Daniel Pichl Sells 29,750 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) insider Daniel Pichl sold 29,750 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the completion of the transaction, the insider now directly owns 50,762 shares of the company’s stock, valued at approximately $2,759,422.32. This represents a 36.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

SpringWorks Therapeutics Stock Down 1.2 %

Shares of NASDAQ:SWTX opened at $58.59 on Friday. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of -15.10 and a beta of 0.81. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $60.00. The company’s fifty day simple moving average is $38.69 and its 200 day simple moving average is $36.56.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SWTX shares. HC Wainwright reissued a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Wednesday. Guggenheim reduced their price target 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. Evercore ISI increased their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wedbush restated an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Monday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics presently has a consensus rating of “Buy” and an average price target of $70.83.

Institutional Trading of SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SWTX. Alpha DNA Investment Management LLC acquired a new position in shares of SpringWorks Therapeutics during the 3rd quarter worth about $411,000. Ally Bridge Group NY LLC bought a new stake in SpringWorks Therapeutics during the third quarter worth $7,296,000. AMI Asset Management Corp bought a new stake in SpringWorks Therapeutics during the fourth quarter worth $1,438,000. Los Angeles Capital Management LLC lifted its stake in SpringWorks Therapeutics by 238.3% in the third quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock valued at $1,513,000 after acquiring an additional 33,255 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of SpringWorks Therapeutics by 13.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company’s stock valued at $19,295,000 after acquiring an additional 73,613 shares during the period.

SpringWorks Therapeutics Company Profile

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.