SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam Sells 49,000 Shares

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 49,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the completion of the transaction, the chief executive officer now owns 954,869 shares in the company, valued at approximately $51,792,094.56. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, February 20th, Saqib Islam sold 29,328 shares of SpringWorks Therapeutics stock. The shares were sold at an average price of $60.30, for a total transaction of $1,768,478.40.
• On Friday, February 14th, Saqib Islam sold 10,672 shares of SpringWorks Therapeutics stock. The stock was 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 shares were sold at an average price of $53.30, for a total value of $2,558,400.00.

SpringWorks Therapeutics Trading Up 1.4 %

SWTX stock opened at $51.32 on Friday. The stock has a 50-day moving average price of $44.14 and a two-hundred day moving average price of $38.75. The company has a market cap of $3.85 billion, a PE ratio of -14.75 and a beta of 0.76. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on SWTX. Wedbush reaffirmed an “outperform” rating and issued a $81.00 price objective on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. HC Wainwright restated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Evercore ISI increased their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Guggenheim lowered their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $73.20.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of institutional investors have recently added to or reduced their stakes in SWTX. FMR LLC grew its stake in SpringWorks Therapeutics by 0.3% during the 3rd quarter. FMR LLC now owns 11,140,946 shares of the company’s stock valued at $356,956,000 after purchasing an additional 28,555 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of SpringWorks Therapeutics by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock valued at $258,650,000 after buying an additional 445,593 shares during the last quarter. Boxer Capital Management LLC acquired a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth approximately $123,620,000. Maverick Capital Ltd. increased its stake in shares of SpringWorks Therapeutics by 6.8% in the third quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after buying an additional 177,824 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in SpringWorks Therapeutics by 24.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after acquiring an additional 465,494 shares in 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.