Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) COO Sells 30,000 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) COO Badreddin Edris sold 30,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.13, for a total value of $1,593,900.00. Following the transaction, the chief operating officer now directly owns 189,712 shares of the company's stock, valued at approximately $10,079,398.56. This trade represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Badreddin Edris also recently made the following trade(s):

• On Tuesday, December 3rd, Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock. The stock was sold at an average price of $41.97, for a total value of $839,400.00.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX traded down $1.16 during mid-day trading on Friday, hitting $57.43. 2,778,360 shares of the stock were exchanged, compared to its average volume of 1,684,477. The company has a market cap of $4.27 billion, a P/E ratio of -14.80 and a beta of 0.81. The stock's fifty day simple moving average is $39.35 and its two-hundred day simple moving average is $36.86. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $60.00.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC lifted its position in SpringWorks Therapeutics by 0.3% in the 3rd quarter. FMR LLC now owns 11,140,946 shares of the company's stock valued at $356,956,000 after acquiring an additional 28,555 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of SpringWorks Therapeutics by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock worth $258,650,000 after acquiring an additional 445,593 shares during the period. Boxer Capital Management LLC acquired a new position in SpringWorks Therapeutics during the 4th quarter worth approximately $123,620,000. Maverick Capital Ltd. increased its position in SpringWorks Therapeutics by 6.8% in the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company's stock valued at $89,018,000 after acquiring an additional 177,824 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in shares of SpringWorks Therapeutics by 24.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock worth $86,402,000 after buying an additional 465,494 shares during the period.

Analyst Upgrades and Downgrades

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