Insider Selling: 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 that occurred on 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 completion of the transaction, the insider now directly owns 50,762 shares in the company, valued at approximately $2,759,422.32. This represents a 36.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

SpringWorks Therapeutics Price Performance

Shares of SWTX opened at $57.43 on Friday. The business’s 50 day simple moving average is $39.03 and its 200-day simple moving average is $36.71. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $60.00. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -14.80 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate 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 company 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 posted ($1.27) EPS. SpringWorks Therapeutics’s quarterly revenue was up 4810.0% compared to the same quarter last year. On average, sell-side analysts expect that SpringWorks Therapeutics, Inc. will post -3.03 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on SWTX. Guggenheim lowered their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Evercore ISI boosted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Monday, February 10th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $70.83.

Institutional Trading of SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SWTX. Creative Planning purchased a new stake in SpringWorks Therapeutics during the 3rd quarter valued at $254,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after buying an additional 474 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in SpringWorks Therapeutics by 64.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,285 shares of the company’s stock valued at $458,000 after buying an additional 5,582 shares during the period. Principal Financial Group Inc. raised its holdings in SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after buying an additional 464,903 shares during the period. Finally, Assetmark Inc. grew its position in 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 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.