SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Insider Sells $1,617,210.00 in Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) insider Daniel Pichl sold 29,750 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.36, for a total value of $1,617,210.00. Following the transaction, the insider now directly owns 50,762 shares of the company’s stock, valued at $2,759,422.32. This represents a 36.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SpringWorks Therapeutics Stock Up 7.5 %

NASDAQ:SWTX traded up $4.15 during trading hours on Wednesday, reaching $59.28. The company had a trading volume of 4,270,393 shares, compared to its average volume of 2,597,517. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $60.00. The stock has a 50-day moving average of $38.35 and a two-hundred day moving average of $36.40. The firm has a market capitalization of $4.41 billion, a PE ratio of -15.28 and a beta of 0.81.

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

Analyst Ratings Changes

Several research firms recently weighed in on SWTX. Guggenheim cut their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Wedbush restated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday. HC Wainwright restated a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Wednesday. Finally, Evercore ISI boosted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $70.83.

Institutional Investors Weigh In On SpringWorks Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning acquired a new position in SpringWorks Therapeutics during the 3rd quarter valued at about $254,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of SpringWorks Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after acquiring an additional 474 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of SpringWorks Therapeutics by 64.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,285 shares of the company’s stock valued at $458,000 after acquiring an additional 5,582 shares during the period. Principal Financial Group Inc. raised its position in shares of SpringWorks Therapeutics by 102.5% in the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after acquiring an additional 464,903 shares during the period. Finally, Assetmark Inc. raised its position in shares of SpringWorks Therapeutics by 13.7% in the 3rd quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock valued at $1,474,000 after acquiring an additional 5,546 shares during the period.

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.