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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) COO Badreddin Edris sold 30,000 shares of SpringWorks Therapeutics stock in a transaction on Monday, February 10th. The shares were sold at an average price of $53.13, for a total value of $1,593,900.00. Following the completion of the transaction, the chief operating officer now owns 189,712 shares of the company’s stock, valued at approximately $10,079,398.56. The trade was a 13.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 shares were sold at an average price of $41.97, for a total value of $839,400.00.

SpringWorks Therapeutics Trading Up 7.5 %

Shares of SpringWorks Therapeutics stock opened at $59.28 on Thursday. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $60.00. The firm has a fifty day moving average of $38.35 and a two-hundred day moving average of $36.40.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.03. The firm had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The company’s quarterly revenue was up 4810.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.27) earnings per share. Sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -3.03 earnings per share for the current year.

Institutional Trading of SpringWorks Therapeutics

Hedge funds have recently modified their holdings of the company. Creative Planning bought a new stake in SpringWorks Therapeutics in the third quarter valued at approximately $254,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of SpringWorks Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after buying an additional 474 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in SpringWorks Therapeutics by 64.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,285 shares of the company’s stock worth $458,000 after buying an additional 5,582 shares during the period. Principal Financial Group Inc. lifted its holdings in SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after acquiring an additional 464,903 shares in the last quarter. Finally, Assetmark Inc. grew its stake in SpringWorks Therapeutics by 13.7% in the third quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock valued at $1,474,000 after acquiring an additional 5,546 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wedbush reissued an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Monday. Guggenheim lowered their price target 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. HC Wainwright reaffirmed a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Wednesday. Finally, Evercore ISI boosted their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target 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.