SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Sells $2,657,760.00 in Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 49,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the sale, the chief executive officer now owns 954,869 shares in the company, valued at $51,792,094.56. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Saqib Islam also recently made the following trade(s):

• On Thursday, February 20th, Saqib Islam sold 29,328 shares of SpringWorks Therapeutics stock. The stock was sold at an average price of $60.30, for a total transaction of $1,768,478.40.
• 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 stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ SWTX opened at $50.59 on Thursday. The company has a 50 day simple moving average of $43.86 and a 200 day simple moving average of $38.66. The firm has a market cap of $3.79 billion, a PE ratio of -14.54 and a beta of 0.76. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data 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 during 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%. As a group, research analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on SWTX. Wedbush reissued an “outperform” rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Evercore ISI increased their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Guggenheim dropped their target price 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. Finally, 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. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics has a consensus rating of “Buy” and a consensus target price of $73.20.

Institutional Trading of SpringWorks Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank increased its position in 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 purchasing an additional 192 shares during the period. AlphaQuest LLC increased its position in SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after purchasing an additional 414 shares during the period. Venturi Wealth Management LLC acquired a new stake in SpringWorks Therapeutics during the 4th quarter valued at approximately $45,000. State of Wyoming increased its position in SpringWorks Therapeutics by 39.5% during the 4th quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after purchasing an additional 433 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in SpringWorks Therapeutics during the 4th quarter valued at approximately $56,000.

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.