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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Daniel Lynch sold 47,600 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $60.22, for a total value of $2,866,472.00. Following the completion of the transaction, the director now owns 82,944 shares of the company’s stock, valued at $4,994,887.68. This represents a 36.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was 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 shares were sold at an average price of $54.46, for a total transaction of $9,530,500.00.

SpringWorks Therapeutics Stock Performance

NASDAQ SWTX opened at $54.03 on Wednesday. The business’s fifty day moving average is $41.79 and its 200 day moving average is $37.96. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The company has a market capitalization of $4.05 billion, a PE ratio of -15.53 and a beta of 0.81.

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

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of hedge funds have recently modified their holdings of SWTX. Huntington National Bank lifted its stake in shares of SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after buying an additional 192 shares in the last quarter. AlphaQuest LLC raised its holdings in SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after acquiring an additional 414 shares during the period. State of Wyoming raised its holdings in SpringWorks Therapeutics by 39.5% during the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after acquiring an additional 433 shares during the period. Barclays PLC lifted its position in shares of SpringWorks Therapeutics by 0.3% in the fourth quarter. Barclays PLC now owns 156,123 shares of the company’s stock valued at $5,641,000 after acquiring an additional 447 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after acquiring an additional 474 shares during the period.

Analysts Set New Price Targets

SWTX has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. HC Wainwright reissued a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Evercore ISI boosted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Guggenheim reduced 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 report on Wednesday, January 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics presently has an average rating of “Buy” and an average price target of $71.50.

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.