Millennium Management LLC acquired a new stake in shares of SpringWorks Therapeutics (NASDAQ:SWTX) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 403,613 shares of the company’s stock, valued at approximately $8,750,000. Millennium Management LLC owned approximately 0.94% of SpringWorks Therapeutics as of its most recent SEC filing.

Separately, Orbimed Advisors LLC bought a new position in SpringWorks Therapeutics in the 3rd quarter valued at about $160,569,000. 72.13% of the stock is owned by institutional investors and hedge funds.

SWTX has been the topic of a number of recent analyst reports. HC Wainwright started coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, December 4th. They set a “buy” rating and a $33.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of SpringWorks Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating and a $32.00 price objective for the company. Cowen initiated coverage on shares of SpringWorks Therapeutics in a report on Tuesday, October 8th. They issued an “outperform” rating for the company. Wedbush assumed coverage on shares of SpringWorks Therapeutics in a research note on Tuesday, October 8th. They set an “outperform” rating and a $33.00 price objective on the stock. Finally, Goldman Sachs Group assumed coverage on SpringWorks Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating and a $37.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $33.75.

In other SpringWorks Therapeutics news, major shareholder Bain Capital Life Sciences Inv bought 150,000 shares of SpringWorks Therapeutics stock in a transaction dated Tuesday, September 17th. The stock was bought at an average price of $18.00 per share, for a total transaction of $2,700,000.00. Also, Director Stephen P. Squinto bought 275,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was acquired at an average cost of $18.00 per share, with a total value of $4,950,000.00.

SWTX opened at $24.52 on Monday. The stock has a fifty day moving average price of $20.41. SpringWorks Therapeutics has a one year low of $17.02 and a one year high of $28.62.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Tuesday, November 12th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($1.30). On average, research analysts forecast that SpringWorks Therapeutics will post -2.44 earnings per share for the current fiscal year.

SpringWorks Therapeutics Profile

SpringWorks Therapeutics, Inc, a clinical-stage biopharmaceutical company, acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its advanced product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase 3 clinical trials for the treatment of desmoid tumors.

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