Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Insider Sells 1,016 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) insider Bhavesh Ashar sold 1,016 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.19, for a total value of $62,169.04. Following the completion of the transaction, the insider now directly owns 62,053 shares in the company, valued at $3,797,023.07. This trade represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

SpringWorks Therapeutics Trading Down 4.5 %

Shares of SWTX opened at $54.03 on Wednesday. The business’s 50 day moving average is $41.79 and its 200 day moving average is $37.96. The company has a market capitalization of $4.05 billion, a PE ratio of -15.53 and a beta of 0.81. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.38). The business had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. Equities research analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Institutional Trading of SpringWorks Therapeutics

A number of large investors have recently added to or reduced their stakes in SWTX. Creative Planning bought a new stake in SpringWorks Therapeutics in the 3rd quarter worth approximately $254,000. Mirae Asset Global Investments Co. Ltd. increased its stake in SpringWorks Therapeutics by 21.4% in the 3rd 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 last quarter. China Universal Asset Management Co. Ltd. increased its stake in SpringWorks Therapeutics by 64.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,285 shares of the company’s stock worth $458,000 after acquiring an additional 5,582 shares during the last quarter. Principal Financial Group Inc. increased its stake in SpringWorks Therapeutics by 102.5% in the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after acquiring an additional 464,903 shares during the last quarter. Finally, Assetmark Inc. increased its stake in SpringWorks Therapeutics by 13.7% in the 3rd quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock worth $1,474,000 after acquiring an additional 5,546 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently commented on SWTX shares. Evercore ISI raised their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. HC Wainwright reaffirmed a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Guggenheim decreased their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $81.00 price objective on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics presently has an average rating of “Buy” and an average target price of $71.50.

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.