Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Insider Sells 29,750 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) insider Daniel Pichl sold 29,750 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.36, for a total value of $1,617,210.00. Following the completion of the transaction, the insider now directly owns 50,762 shares in the company, valued at $2,759,422.32. This trade represents a 36.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

SpringWorks Therapeutics Price Performance

Shares of SWTX stock opened at $57.43 on Friday. SpringWorks Therapeutics, Inc. has a 1-year low of $28.21 and a 1-year high of $60.00. The stock’s 50-day moving average is $39.03 and its 200 day moving average is $36.71. The company has a market cap of $4.27 billion, a P/E ratio of -14.80 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.03. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The company had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. During the same quarter last year, the company earned ($1.27) earnings per share. The firm’s revenue for the quarter was up 4810.0% compared to the same quarter last year. On average, analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.03 EPS for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Alpha DNA Investment Management LLC bought a new stake in SpringWorks Therapeutics during the third quarter valued at about $411,000. Ally Bridge Group NY LLC bought a new stake in SpringWorks Therapeutics during the third quarter valued at about $7,296,000. AMI Asset Management Corp purchased a new stake in SpringWorks Therapeutics in the fourth quarter valued at about $1,438,000. Los Angeles Capital Management LLC raised its stake in SpringWorks Therapeutics by 238.3% in the third quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock valued at $1,513,000 after buying an additional 33,255 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in SpringWorks Therapeutics by 13.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company’s stock valued at $19,295,000 after buying an additional 73,613 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have commented on SWTX shares. HC Wainwright reaffirmed a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday. Guggenheim dropped their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI increased their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Wedbush reissued an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, February 10th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $70.83.

SpringWorks Therapeutics Company Profile

SpringWorks Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is OGSIVEO (nirogacestat), an oral small molecule gamma secretase inhibitor that is in Phase III DeFi trial for the treatment of desmoid tumors; and Nirogacestat, is also in Phase 2 clinical development as a monotherapy for the treatment of ovarian granulosa cell tumors (GCT), a subtype of ovarian cancer.