SpringWorks Therapeutics’ (NASDAQ:SWTX) Quiet Period To Expire on October 23rd

SpringWorks Therapeutics’ (NASDAQ:SWTX) quiet period will expire on Wednesday, October 23rd. SpringWorks Therapeutics had issued 9,000,000 shares in its initial public offering on September 13th. The total size of the offering was $162,000,000 based on an initial share price of $18.00. During SpringWorks Therapeutics’ quiet period, insiders and underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

SWTX has been the topic of a number of recent research reports. Cowen initiated coverage on SpringWorks Therapeutics in a research report on Tuesday, October 8th. They set an “outperform” rating on the stock. Goldman Sachs Group initiated coverage on SpringWorks Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating and a $37.00 price objective on the stock. Wedbush initiated coverage on SpringWorks Therapeutics in a research report on Tuesday, October 8th. They set an “outperform” rating and a $33.00 price objective on the stock. Finally, JPMorgan Chase & Co. initiated coverage on SpringWorks Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating and a $32.00 price objective on the stock.

Shares of SWTX stock opened at $21.84 on Wednesday. SpringWorks Therapeutics has a 1 year low of $17.66 and a 1 year high of $28.62.

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

About SpringWorks Therapeutics

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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