Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) COO Sells 30,000 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) COO Badreddin Edris sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $53.13, for a total value of $1,593,900.00. Following the completion of the transaction, the chief operating officer now owns 189,712 shares in the company, valued at approximately $10,079,398.56. This trade represents a 13.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Badreddin Edris also recently made the following trade(s):

• On Tuesday, December 3rd, Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock. The shares were sold at an average price of $41.97, for a total value of $839,400.00.

SpringWorks Therapeutics Stock Down 2.0 %

SWTX stock opened at $57.43 on Friday. The business has a fifty day moving average of $39.03 and a two-hundred day moving average of $36.71. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of -14.80 and a beta of 0.81. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $60.00.

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

Institutional Investors Weigh In On SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boxer Capital Management LLC acquired a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at $123,620,000. Soros Fund Management LLC grew its stake in shares of SpringWorks Therapeutics by 7.4% in the fourth quarter. Soros Fund Management LLC now owns 600,470 shares of the company’s stock valued at $21,695,000 after buying an additional 41,149 shares in the last quarter. Northern Trust Corp grew its stake in shares of SpringWorks Therapeutics by 8.8% in the fourth quarter. Northern Trust Corp now owns 655,678 shares of the company’s stock valued at $23,690,000 after buying an additional 52,908 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of SpringWorks Therapeutics by 42.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 407,683 shares of the company’s stock valued at $14,730,000 after buying an additional 122,128 shares in the last quarter. Finally, Quarry LP grew its stake in shares of SpringWorks Therapeutics by 66.7% in the fourth quarter. Quarry LP now owns 10,000 shares of the company’s stock valued at $361,000 after buying an additional 4,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

SWTX has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday. Guggenheim reduced their price objective 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 lifted their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday, February 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics has a consensus rating of “Buy” and a consensus 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.