Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Sells $2,558,400.00 in Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.30, for a total value of $2,558,400.00. Following the sale, the chief executive officer now owns 1,002,502 shares of the company’s stock, valued at $53,433,356.60. This trade represents a 4.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

SpringWorks Therapeutics Stock Down 2.0 %

Shares of SWTX stock opened at $57.43 on Friday. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $60.00. The stock has a market cap of $4.27 billion, a P/E ratio of -14.80 and a beta of 0.81. The business has a fifty day simple moving average of $39.03 and a 200-day simple moving average of $36.71.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results 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 business had revenue of $49.10 million during the quarter, compared to analysts’ expectations of $53.28 million. During the same quarter last year, the business posted ($1.27) earnings per share. The business’s revenue for the quarter was up 4810.0% on a year-over-year basis. On average, sell-side analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Evercore ISI upped their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday, February 10th. 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $70.83.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. FMR LLC increased its position in shares of SpringWorks Therapeutics by 0.3% in the third quarter. FMR LLC now owns 11,140,946 shares of the company’s stock valued at $356,956,000 after buying 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 fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock valued at $258,650,000 after acquiring 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 valued at $123,620,000. Maverick Capital Ltd. boosted its stake in shares of SpringWorks Therapeutics by 6.8% during the third quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock valued at $89,018,000 after acquiring an additional 177,824 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of SpringWorks Therapeutics by 24.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock valued at $86,402,000 after acquiring an additional 465,494 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.