Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Sells 29,328 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 29,328 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $60.30, for a total value of $1,768,478.40. Following the completion of the sale, the chief executive officer now owns 1,034,625 shares in the company, valued at $62,387,887.50. The trade was a 2.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 value 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 value of $2,558,400.00.

SpringWorks Therapeutics Stock Down 2.9 %

SWTX opened at $56.56 on Tuesday. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of -16.25 and a beta of 0.81. The firm has a 50 day moving average price of $41.47 and a 200-day moving average price of $37.84. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The company 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%. As a group, analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on SWTX shares. HC Wainwright reissued a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Friday. 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 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. Finally, Wedbush reiterated an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $71.50.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Huntington National Bank grew its stake in shares of 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 boosted its holdings in shares of SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after buying an additional 414 shares during the last quarter. State of Wyoming grew its position in SpringWorks Therapeutics by 39.5% during the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after buying an additional 433 shares during the period. Barclays PLC increased its holdings in SpringWorks Therapeutics by 0.3% during the fourth quarter. Barclays PLC now owns 156,123 shares of the company’s stock valued at $5,641,000 after buying an additional 447 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in SpringWorks Therapeutics by 21.4% in the third 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 period.

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.