SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Sells $2,558,400.00 in Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 48,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.30, for a total value of $2,558,400.00. Following the transaction, the chief executive officer now owns 1,002,502 shares of the company’s stock, valued at $53,433,356.60. The trade was a 4.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

SpringWorks Therapeutics Stock Up 7.5 %

NASDAQ:SWTX traded up $4.15 during mid-day trading on Wednesday, hitting $59.28. 4,270,393 shares of the company traded hands, compared to its average volume of 2,597,517. The stock’s fifty day moving average price is $38.35 and its 200-day moving average price is $36.40. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $60.00. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of -15.28 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.03. The business had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. SpringWorks Therapeutics’s revenue for the quarter was up 4810.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.27) earnings per share. Equities analysts predict that SpringWorks Therapeutics, Inc. will post -3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SWTX. Evercore ISI raised their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday. Guggenheim cut their price objective on 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 restated a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $70.83.

Hedge Funds Weigh In On SpringWorks Therapeutics

Hedge funds have recently made changes to their positions in the business. Creative Planning purchased a new stake in SpringWorks Therapeutics during the third quarter valued at approximately $254,000. Mirae Asset Global Investments Co. Ltd. boosted its position in SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after acquiring an additional 474 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in SpringWorks Therapeutics by 64.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,285 shares of the company’s stock valued at $458,000 after acquiring an additional 5,582 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after purchasing an additional 464,903 shares during the last quarter. Finally, Assetmark Inc. raised its stake in SpringWorks Therapeutics by 13.7% in the 3rd quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock worth $1,474,000 after acquiring an additional 5,546 shares during the last quarter.

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.