Daniel Lynch Sells 47,600 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Daniel Lynch sold 47,600 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $60.22, for a total transaction of $2,866,472.00. Following the completion of the sale, the director now owns 82,944 shares of the company’s stock, valued at $4,994,887.68. This trade represents a 36.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Daniel Lynch also recently made the following trade(s):

• On Friday, February 14th, Daniel Lynch sold 400 shares of SpringWorks Therapeutics stock. The shares were sold at an average price of $60.00, for a total value of $24,000.00.
• On Monday, February 10th, Daniel Lynch sold 175,000 shares of SpringWorks Therapeutics stock. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00.

SpringWorks Therapeutics Stock Performance

SWTX opened at $56.56 on Tuesday. The stock has a fifty day moving average of $41.47 and a 200-day moving average of $37.84. The company has a market capitalization of $4.24 billion, a P/E ratio of -16.25 and a beta of 0.81. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $62.00.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday. Guggenheim dropped their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Wedbush restated an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Finally, Evercore ISI upped their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $71.50.

Institutional Investors Weigh In On SpringWorks Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Boxer Capital Management LLC acquired a new stake in SpringWorks Therapeutics during the fourth quarter worth approximately $123,620,000. Capital International Investors raised its holdings in SpringWorks Therapeutics by 92.7% in the 4th quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock valued at $85,330,000 after acquiring an additional 1,136,079 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of 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 valued at $86,402,000 after acquiring an additional 465,494 shares during the period. Principal Financial Group Inc. grew its holdings in shares of SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after purchasing an additional 464,903 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of SpringWorks Therapeutics by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock worth $258,650,000 after purchasing an additional 445,593 shares during the period.

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.