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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) insider Bhavesh Ashar sold 1,016 shares of SpringWorks Therapeutics stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total transaction of $62,169.04. Following the completion of the transaction, the insider now directly owns 62,053 shares in the company, valued at approximately $3,797,023.07. This represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

SpringWorks Therapeutics Trading Down 2.9 %

Shares of SWTX stock opened at $56.56 on Tuesday. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $62.00. The firm’s fifty day simple moving average is $41.47 and its 200 day simple moving average is $37.84. The firm has a market capitalization of $4.24 billion, a P/E ratio of -16.25 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its 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). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The company had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. Equities research analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wedbush reissued an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Guggenheim dropped their price target on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. HC Wainwright reissued a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Friday. Finally, Evercore ISI lifted 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $71.50.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of SWTX. GF Fund Management CO. LTD. bought a new stake in SpringWorks Therapeutics in the 4th quarter valued at $56,000. Palisades Investment Partners LLC increased its holdings in SpringWorks Therapeutics by 9.9% in the 4th quarter. Palisades Investment Partners LLC now owns 134,445 shares of the company’s stock valued at $4,857,000 after buying an additional 12,154 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in SpringWorks Therapeutics by 19.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,052 shares of the company’s stock valued at $4,301,000 after buying an additional 19,315 shares during the period. Woodline Partners LP increased its holdings in SpringWorks Therapeutics by 7.9% in the 4th quarter. Woodline Partners LP now owns 1,490,136 shares of the company’s stock valued at $53,839,000 after buying an additional 108,512 shares during the period. Finally, Zimmer Partners LP bought a new stake in SpringWorks Therapeutics in the 4th quarter valued at $5,141,000.

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.