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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) COO Badreddin Edris sold 20,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $54.23, for a total value of $1,084,600.00. Following the completion of the sale, the chief operating officer now owns 169,712 shares of the company’s stock, valued at approximately $9,203,481.76. This trade represents a 10.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Badreddin Edris also recently made the following trade(s):

• On Monday, February 10th, Badreddin Edris sold 30,000 shares of SpringWorks Therapeutics stock. The shares were sold at an average price of $53.13, for a total value of $1,593,900.00.

SpringWorks Therapeutics Trading Down 1.5 %

Shares of SpringWorks Therapeutics stock opened at $50.59 on Thursday. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $62.00. The firm has a market capitalization of $3.79 billion, a P/E ratio of -14.54 and a beta of 0.76. The business has a fifty day simple moving average of $43.86 and a two-hundred day simple moving average of $38.66.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The business 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%. 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 hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC grew its stake in shares of SpringWorks Therapeutics by 30.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company’s stock worth $2,231,000 after acquiring an additional 14,548 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new position in SpringWorks Therapeutics in the third quarter worth about $411,000. Principal Financial Group Inc. grew its holdings in shares of SpringWorks Therapeutics by 20.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock valued at $39,882,000 after buying an additional 185,413 shares during the last quarter. Ally Bridge Group NY LLC purchased a new stake in shares of SpringWorks Therapeutics during the third quarter valued at approximately $7,296,000. Finally, AMI Asset Management Corp bought a new stake in shares of SpringWorks Therapeutics during the fourth quarter valued at approximately $1,438,000.

Analyst Ratings Changes

SWTX has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Wedbush reaffirmed an “outperform” rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Evercore ISI boosted 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. Finally, Guggenheim lowered their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $73.20.

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.