DnB Asset Management AS, an investment management firm, has reportedly increased its holdings in SpringWorks Therapeutics, Inc. by 44.6% during the second quarter of this year. According to a recent filing with the Securities and Exchange Commission (SEC), DnB Asset Management AS now owns 14,811 shares of the company’s stock, after purchasing an additional 4,568 shares during that period. At the end of the quarter, these holdings were estimated to be worth $388,000.
The growth in holdings by DnB Asset Management AS indicates a positive sentiment towards SpringWorks Therapeutics and its business performance. As an investment management firm, their decision to increase their stake in the company showcases their confidence in its potential for growth and success.
In related news, it was reported that director Julie Hambleton sold 2,418 shares of SpringWorks Therapeutics’ stock on July 19th for approximately $70,871.58. The shares were sold at an average price of $29.31 per share. Following this transaction, Hambleton now holds 4,648 shares directly in the company with a total value of $136,232.88.
This information was disclosed as part of a legal filing with the SEC and is readily accessible through their official website. It is worth noting that corporate insiders currently own 7.43% of SpringWorks Therapeutics’ stock.
SpringWorks Therapeutics is a pharmaceutical company focused on developing innovative therapies for patients with severe diseases and unmet medical needs. Their dedication to addressing unmet needs in healthcare has garnered attention from both investors like DnB Asset Management AS and corporate insiders who remain invested in the company’s success.
The recent increase in DnB Asset Management AS’s holdings signifies their confidence in SpringWorks Therapeutics’ business strategy and potential for future growth. Investors keen on exploring opportunities within this sector may find it beneficial to research and analyze SpringWorks Therapeutics as a potential investment option.
As with any investment, it is important for individuals to conduct their own due diligence and consider their risk tolerance before making any financial decisions. Staying informed about the latest developments and news surrounding companies like SpringWorks Therapeutics can provide valuable insights for investors seeking to make informed choices in the dynamic world of finance and pharmaceuticals.
Please note that the referenced date for this article is September 20, 2023, and it is crucial to consult reliable sources for the most up-to-date information regarding SpringWorks Therapeutics’ financial performance and investment-related data.
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Growing Interest and Promising Prospects: Hedge Fund and Institutional Investor Activity Surrounding SpringWorks Therapeutics
As of September 20, 2023, there have been notable movements in terms of hedge fund and institutional investor activity surrounding SpringWorks Therapeutics. One such instance is Amundi, which significantly increased its position in the company during the fourth quarter by 37.3%. As a result, Amundi now owns 3,678 shares of SpringWorks Therapeutics valued at $102,000 after acquiring an additional 1,000 shares in the last quarter.
Assetmark Inc., another institutional investor, also saw a substantial rise in its stake in SpringWorks Therapeutics during the same period. With a 36.6% increase, Assetmark now possesses 4,517 shares of the company’s stock worth approximately $117,000 after purchasing an additional 1,210 shares in the last quarter.
American Century Companies Inc. made its entry into SpringWorks Therapeutics’ shareholder list during the first quarter with a position estimated at $164,000. Similarly, Dark Forest Capital Management LP also initiated a new position during this time, investing approximately $229,000 in shares of SpringWorks Therapeutics.
Furthermore, Arizona State Retirement System joined these institutional investors by establishing its own position during the first quarter with an investment estimated at $256,000. These moves demonstrate various firms’ growing interest in and confidence towards SpringWorks Therapeutics.
Market analysts have recently provided their insights on SpringWorks Therapeutics through research reports. HC Wainwright reiterated their “buy” rating on the company’s shares and set a price objective of $66.00 per share; this was noted in a research note published on Thursday, August 24th. Moreover, The Goldman Sachs Group boosted their price objective for SpringWorks Therapeutics from $43.00 to $49.00 while affirming their “buy” rating for the company on Thursday, July 20th.
On Wednesday’s opening session (September 20th), NASDAQ:SWTX commenced at $25.51. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -5.11, and a beta of 0.58. A glance at the stock’s performance reveals a 50-day moving average of $28.06 and a 200-day moving average of $27.21. SpringWorks Therapeutics, Inc. has experienced a 52-week low of $21.04 and a 52-week high of $34.16.
Regarding financials, SpringWorks Therapeutics last released its quarterly earnings data on Wednesday, August 2nd. The company reported earnings per share (EPS) of ($1.25) for the quarter, surpassing analysts’ consensus estimates by $0.01 with an anticipated EPS result of ($1.26). Comparatively, in the same period the previous year, the business recorded ($1.41) earnings per share.
Analysts collectively project that SpringWorks Therapeutics, Inc.’s current fiscal year will yield an EPS figure amounting to -5.19.
In conclusion, notable hedge funds and institutional investors have recently made significant moves in terms of buying and selling shares in SpringWorks Therapeutics during recent quarters. This increased attention from various firms is accompanied by positive research reports and price target upgrades from reputable institutions such as HC Wainwright and The Goldman Sachs Group.
When examining the stock’s trading dynamics, it is clear that NASDAQ:SWTX opened at $25.51 on September 20th with stable performance indicators over both shorter-term and longer-term periods.
Furthermore, SpringWorks Therapeutics’ most recent quarterly earnings demonstrated favorable results compared to analysts’ predictions in terms of earnings per share.
It remains to be seen how these actions by institutional investors and research reports will impact SpringWorks Therapeutics in the near future; however, current indications suggest promising prospects for the company moving forward.
