SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Daniel Lynch Sells 175,000 Shares

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) Director Daniel Lynch sold 175,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the completion of the sale, the director now owns 130,944 shares of the company's stock, valued at $7,131,210.24. This trade represents a 57.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ:SWTX traded down $1.16 during trading on Friday, reaching $57.43. 2,778,360 shares of the stock were exchanged, compared to its average volume of 1,684,477. SpringWorks Therapeutics, Inc. has a 1-year low of $28.21 and a 1-year high of $60.00. The stock has a fifty day moving average of $39.35 and a two-hundred day moving average of $36.86. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of -14.80 and a beta of 0.81.

Institutional Trading of SpringWorks Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank grew its position in 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 acquiring an additional 192 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock worth $36,000 after acquiring an additional 414 shares during the period. Venturi Wealth Management LLC bought a new stake in SpringWorks Therapeutics during the fourth quarter valued at about $45,000. KBC Group NV boosted its stake in shares of SpringWorks Therapeutics by 59.1% in the fourth quarter. KBC Group NV now owns 2,634 shares of the company's stock worth $95,000 after acquiring an additional 978 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company's stock worth $87,000 after buying an additional 474 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SWTX shares. Guggenheim dropped their price target 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. Wedbush reissued an "outperform" rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday, February 10th. Evercore ISI raised their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $70.83.

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.