Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Sells 175,000 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Daniel Lynch sold 175,000 shares of SpringWorks Therapeutics stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the transaction, the director now directly owns 130,944 shares of the company’s stock, valued at $7,131,210.24. The trade was a 57.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

SpringWorks Therapeutics Price Performance

SpringWorks Therapeutics stock opened at $58.59 on Friday. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of -15.10 and a beta of 0.81. The firm has a 50-day moving average of $38.69 and a two-hundred day moving average of $36.56. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $60.00.

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

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Alpha DNA Investment Management LLC purchased a new position in shares of SpringWorks Therapeutics during the third quarter valued at $411,000. Ally Bridge Group NY LLC bought a new position in SpringWorks Therapeutics during the 3rd quarter worth about $7,296,000. AMI Asset Management Corp purchased a new position in SpringWorks Therapeutics during the 4th quarter valued at about $1,438,000. Los Angeles Capital Management LLC raised its holdings in shares of SpringWorks Therapeutics by 238.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock valued at $1,513,000 after purchasing an additional 33,255 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of SpringWorks Therapeutics by 13.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company’s stock valued at $19,295,000 after purchasing an additional 73,613 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SWTX shares. Guggenheim dropped their price target on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wedbush reissued an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Wednesday. Finally, Evercore ISI raised 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average 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.