Saqib Islam Sells 29,328 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 29,328 shares of SpringWorks Therapeutics stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,034,625 shares of the company’s stock, valued at approximately $62,387,887.50. The trade was a 2.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Saqib Islam also recently made the following trade(s):

• On Friday, February 14th, Saqib Islam sold 10,672 shares of SpringWorks Therapeutics stock. The shares were 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 stock was sold at an average price of $53.30, for a total value of $2,558,400.00.

SpringWorks Therapeutics Trading Up 0.2 %

SpringWorks Therapeutics stock opened at $54.14 on Thursday. The stock has a 50-day moving average price of $42.16 and a 200 day moving average price of $38.07. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00. The stock 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 issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The firm had revenue of $61.55 million for the quarter, compared to analysts’ expectations of $60.53 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. On average, equities analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. 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 report on Wednesday, January 8th. Evercore ISI upped their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $71.50.

Institutional Trading of SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SWTX. Huntington National Bank lifted its stake in shares of SpringWorks Therapeutics by 38.2% during the 4th 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 SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after purchasing an additional 414 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in SpringWorks Therapeutics during the fourth quarter worth about $45,000. State of Wyoming boosted its stake in SpringWorks Therapeutics by 39.5% in the 4th quarter. State of Wyoming now owns 1,530 shares of the company’s stock worth $55,000 after buying an additional 433 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new stake in SpringWorks Therapeutics in the 4th quarter valued at about $56,000.

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.