SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Sells $1,768,478.40 in Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 29,328 shares of SpringWorks Therapeutics stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 1,034,625 shares of the company’s stock, valued at approximately $62,387,887.50. This represents a 2.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 transaction 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 transaction of $2,558,400.00.

SpringWorks Therapeutics Trading Down 4.5 %

Shares of SWTX stock opened at $54.03 on Wednesday. The company has a market cap of $4.05 billion, a P/E ratio of -15.53 and a beta of 0.81. The firm has a fifty day moving average price of $41.79 and a 200 day moving average price of $37.96. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data 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). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The business had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. On average, equities 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 institutional investors and hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank raised its holdings in SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after purchasing an additional 192 shares in the last quarter. AlphaQuest LLC grew its position in shares of SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after buying an additional 414 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in SpringWorks Therapeutics during the 4th quarter worth $45,000. State of Wyoming lifted its position in SpringWorks Therapeutics by 39.5% in 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 last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in SpringWorks Therapeutics in the fourth quarter valued at $56,000.

Wall Street Analyst Weigh In

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