SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Sells $1,768,478.40 in Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 29,328 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $60.30, for a total transaction of $1,768,478.40. Following the completion of the sale, the chief executive officer now directly owns 1,034,625 shares of the company’s stock, valued at approximately $62,387,887.50. This trade represents a 2.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Price Performance

Shares of NASDAQ SWTX opened at $54.14 on Thursday. The stock has a fifty day moving average price of $42.16 and a 200 day moving average price of $38.07. SpringWorks Therapeutics, Inc. has a 1-year low of $28.21 and a 1-year high of $62.00. The company has a market cap of $4.06 billion, a PE ratio of -15.56 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. Analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Boxer Capital Management LLC purchased a new position in shares of SpringWorks Therapeutics during the 4th quarter worth approximately $123,620,000. Capital International Investors boosted its stake in shares of SpringWorks Therapeutics by 92.7% in the fourth quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock valued at $85,330,000 after buying an additional 1,136,079 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in SpringWorks Therapeutics by 24.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after acquiring an additional 465,494 shares during the period. Principal Financial Group Inc. raised its position in SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after acquiring an additional 464,903 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in SpringWorks Therapeutics by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock valued at $258,650,000 after acquiring an additional 445,593 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Guggenheim cut their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Wedbush reiterated an “outperform” rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Finally, Evercore ISI lifted 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, February 12th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $71.50.

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.