SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Sells $9,530,500.00 in Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Daniel Lynch sold 175,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the sale, the director now directly owns 130,944 shares of the company’s stock, valued at $7,131,210.24. This represents a 57.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

SpringWorks Therapeutics Price Performance

NASDAQ:SWTX opened at $57.43 on Friday. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -14.80 and a beta of 0.81. The company’s 50-day moving average is $39.03 and its two-hundred day moving average is $36.71. SpringWorks Therapeutics, Inc. has a 1-year low of $28.21 and a 1-year high of $60.00.

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

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Huntington National Bank lifted its holdings in shares of SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after acquiring an additional 192 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after acquiring an additional 414 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of SpringWorks Therapeutics in the 4th quarter worth approximately $45,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SpringWorks Therapeutics by 21.4% in the 3rd 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 last quarter. Finally, KBC Group NV lifted its holdings in shares of SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after acquiring an additional 978 shares during the last quarter.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Guggenheim dropped their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. HC Wainwright reaffirmed a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, February 10th. Finally, Evercore ISI upped their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $70.83.

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.