Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Sells 29,328 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 29,328 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $60.30, for a total transaction of $1,768,478.40. Following the completion of the sale, the chief executive officer now owns 1,034,625 shares in the company, valued at $62,387,887.50. This represents a 2.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Saqib Islam also recently made the following trade(s):

• On Friday, February 14th, Saqib Islam sold 10,672 shares of SpringWorks Therapeutics stock. The shares were sold at an average price of $59.92, for a total transaction of $639,466.24.
• On Monday, February 10th, Saqib Islam sold 48,000 shares of SpringWorks Therapeutics stock. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX traded down $1.69 during mid-day trading on Monday, hitting $56.56. The stock had a trading volume of 2,464,010 shares, compared to its average volume of 2,740,043. The company has a 50 day moving average of $41.10 and a two-hundred day moving average of $37.70. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $62.00. The firm has a market cap of $4.24 billion, a PE ratio of -16.25 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The firm had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. Equities research analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SWTX has been the subject of several analyst reports. Evercore ISI increased their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a research note on Thursday. 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 note on Wednesday, January 8th. Finally, HC Wainwright restated a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Friday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $71.50.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Huntington National Bank boosted its holdings in shares of SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after acquiring an additional 192 shares during the last quarter. AlphaQuest LLC lifted its position in SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after purchasing an additional 414 shares during the period. State of Wyoming boosted its holdings in SpringWorks Therapeutics by 39.5% in the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after purchasing an additional 433 shares during the last quarter. Barclays PLC grew its position in SpringWorks Therapeutics by 0.3% during the 4th quarter. Barclays PLC now owns 156,123 shares of the company’s stock worth $5,641,000 after purchasing an additional 447 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after buying an additional 474 shares during the last quarter.

About SpringWorks Therapeutics

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.