SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam Sells 48,000 Shares

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 48,000 shares of the firm’s stock in a transaction dated 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 directly owns 1,002,502 shares in the company, valued at approximately $53,433,356.60. The trade was a 4.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

SpringWorks Therapeutics Trading Up 7.5 %

Shares of SpringWorks Therapeutics stock traded up $4.15 during mid-day trading on Wednesday, reaching $59.28. 4,270,393 shares of the stock were exchanged, compared to its average volume of 2,597,517. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -15.28 and a beta of 0.81. The firm has a 50-day simple moving average of $38.35 and a 200 day simple moving average of $36.40. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $60.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.03. The business 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 quarterly revenue was up 4810.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.27) EPS. On average, research analysts predict that SpringWorks Therapeutics, Inc. will post -3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SWTX. HC Wainwright restated a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday. Evercore ISI boosted 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. Wedbush restated an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a report on Monday. Finally, Guggenheim dropped their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $70.83.

Hedge Funds Weigh In On SpringWorks Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Huntington National Bank lifted its position in SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after purchasing an additional 192 shares during the period. AlphaQuest LLC increased its stake in shares of SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after acquiring an additional 414 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in SpringWorks Therapeutics in the 4th quarter valued at $45,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 worth $87,000 after acquiring an additional 474 shares during the last quarter. Finally, KBC Group NV boosted 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 buying an additional 978 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.