SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) COO Badreddin Edris Sells 20,000 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) COO Badreddin Edris sold 20,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the sale, the chief operating officer now owns 209,600 shares in the company, valued at approximately $8,796,912. The trade was a 8.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

SpringWorks Therapeutics Stock Performance

NASDAQ:SWTX opened at $41.75 on Friday. The firm has a 50-day simple moving average of $33.96 and a 200-day simple moving average of $36.72. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $53.92. The firm has a market cap of $3.11 billion, a P/E ratio of -10.76 and a beta of 0.86.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. The company had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. SpringWorks Therapeutics’s revenue for the quarter was up 4810.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.27) earnings per share. On average, research analysts predict that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. HC Wainwright reduced their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Evercore ISI started coverage on shares of SpringWorks Therapeutics in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. boosted their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $69.50.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. grew its stake in SpringWorks Therapeutics by 47.9% in the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after purchasing an additional 383 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of SpringWorks Therapeutics by 21.4% during the third 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 last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of SpringWorks Therapeutics in the 2nd quarter valued at about $123,000. Quantbot Technologies LP purchased a new position in shares of SpringWorks Therapeutics in the 3rd quarter worth approximately $147,000. Finally, Quarry LP grew its position in shares of SpringWorks Therapeutics by 56.3% in the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $188,000 after buying an additional 1,800 shares during the last quarter.

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.