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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) insider Daniel Pichl sold 29,750 shares of the firm'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 transaction, the insider now directly owns 50,762 shares of the company's stock, valued at $2,759,422.32. The trade was a 36.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

SpringWorks Therapeutics Trading Down 2.0 %

Shares of NASDAQ:SWTX traded down $1.16 during midday trading on Friday, reaching $57.43. The company had a trading volume of 2,778,360 shares, compared to its average volume of 1,684,477. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $60.00. The company's 50 day moving average price is $39.35 and its 200 day moving average price is $36.86. The stock has a market cap of $4.27 billion, a P/E ratio of -14.80 and a beta of 0.81.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SWTX. Wedbush reaffirmed an "outperform" rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday, February 10th. HC Wainwright reiterated a "buy" rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Wednesday. Evercore ISI increased their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, Guggenheim reduced their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $70.83.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SWTX. Boxer Capital Management LLC purchased a new stake in SpringWorks Therapeutics in the fourth quarter worth approximately $123,620,000. Soros Fund Management LLC increased its holdings in shares of SpringWorks Therapeutics by 7.4% during the fourth quarter. Soros Fund Management LLC now owns 600,470 shares of the company's stock valued at $21,695,000 after acquiring an additional 41,149 shares in the last quarter. Northern Trust Corp boosted its position in shares of SpringWorks Therapeutics by 8.8% during the fourth quarter. Northern Trust Corp now owns 655,678 shares of the company's stock valued at $23,690,000 after buying an additional 52,908 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of SpringWorks Therapeutics by 42.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 407,683 shares of the company's stock valued at $14,730,000 after buying an additional 122,128 shares during the last quarter. Finally, Quarry LP boosted its position in SpringWorks Therapeutics by 66.7% in the fourth quarter. Quarry LP now owns 10,000 shares of the company's stock worth $361,000 after purchasing an additional 4,000 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.