Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Sells 10,672 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) CEO Saqib Islam sold 10,672 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $59.92, for a total transaction of $639,466.24. Following the completion of the transaction, the chief executive officer now owns 1,063,953 shares in the company, valued at approximately $63,752,063.76. This represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 transaction of $2,558,400.00.

SpringWorks Therapeutics Price Performance

Shares of SWTX traded down $1.64 during midday trading on Friday, reaching $58.29. The stock had a trading volume of 3,531,485 shares, compared to its average volume of 2,747,973. SpringWorks Therapeutics, Inc. has a 1-year low of $28.21 and a 1-year high of $62.00. The company's fifty day simple moving average is $41.10 and its two-hundred day simple moving average is $37.64. The company has a market cap of $4.34 billion, a price-to-earnings ratio of -15.02 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The firm had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. On average, sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -3.17 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on SWTX. HC Wainwright reiterated a "buy" rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a report on Friday. Evercore ISI increased their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Wedbush reiterated an "outperform" rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a report on Thursday. Finally, Guggenheim reduced 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $71.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Alpha DNA Investment Management LLC purchased a new position in shares of SpringWorks Therapeutics in the 3rd quarter valued at $411,000. Ally Bridge Group NY LLC purchased a new position in shares of SpringWorks Therapeutics in the 3rd quarter valued at $7,296,000. AMI Asset Management Corp purchased a new position in shares of SpringWorks Therapeutics in the 4th quarter valued at $1,438,000. Los Angeles Capital Management LLC grew its position in shares of SpringWorks Therapeutics by 238.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company's stock valued at $1,513,000 after buying an additional 33,255 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of SpringWorks Therapeutics by 13.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company's stock valued at $19,295,000 after buying an additional 73,613 shares during the last quarter.

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.