SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Sells 29,328 Shares

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 29,328 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $60.30, for a total value of $1,768,478.40. Following the sale, the chief executive officer now owns 1,034,625 shares in the company, valued at approximately $62,387,887.50. This trade represents a 2.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Saqib Islam also recently made the following trade(s):

• On Friday, February 14th, Saqib Islam sold 10,672 shares of SpringWorks Therapeutics stock. The stock was sold at an average price of $59.92, for a total value of $639,466.24.
• On Monday, February 10th, Saqib Islam sold 48,000 shares of SpringWorks Therapeutics stock. The shares were sold at an average price of $53.30, for a total value of $2,558,400.00.

SpringWorks Therapeutics Trading Down 2.9 %

Shares of NASDAQ SWTX traded down $1.69 during mid-day trading on Monday, reaching $56.56. The company had a trading volume of 2,464,010 shares, compared to its average volume of 2,740,043. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of -16.25 and a beta of 0.81. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00. The business’s 50-day moving average is $41.10 and its 200-day moving average is $37.70.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its 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). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The company had revenue of $61.55 million during the quarter, compared to the consensus estimate of $60.53 million. As a group, equities research analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Friday. 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 report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and issued a $81.00 price objective on shares of SpringWorks Therapeutics in a research report on Thursday. Finally, Guggenheim dropped their target price 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $71.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Alpha DNA Investment Management LLC purchased a new stake in shares of SpringWorks Therapeutics in the 3rd quarter worth $411,000. Ally Bridge Group NY LLC bought a new stake in shares of SpringWorks Therapeutics in the third quarter valued at about $7,296,000. AMI Asset Management Corp purchased a new stake in SpringWorks Therapeutics in the fourth quarter worth about $1,438,000. Los Angeles Capital Management LLC grew its holdings in SpringWorks Therapeutics by 238.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock worth $1,513,000 after acquiring an additional 33,255 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in SpringWorks Therapeutics by 20.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock valued at $39,882,000 after purchasing an additional 185,413 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.