SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Sells $639,466.24 in Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 10,672 shares of the firm’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 transaction, the chief executive officer now owns 1,063,953 shares of the company’s stock, valued at approximately $63,752,063.76. The trade was a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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 Stock Up 7.5 %

Shares of SWTX stock opened at $59.93 on Friday. The company has a market cap of $4.46 billion, a price-to-earnings ratio of -15.45 and a beta of 0.81. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00. The firm has a 50 day moving average of $40.70 and a 200-day moving average of $37.47.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. Analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Institutional Trading of SpringWorks Therapeutics

Several hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. acquired a new stake in SpringWorks Therapeutics in the 4th quarter valued at $56,000. Palisades Investment Partners LLC grew its position in SpringWorks Therapeutics by 9.9% in the 4th quarter. Palisades Investment Partners LLC now owns 134,445 shares of the company’s stock valued at $4,857,000 after purchasing an additional 12,154 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in SpringWorks Therapeutics by 19.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,052 shares of the company’s stock valued at $4,301,000 after purchasing an additional 19,315 shares during the period. Woodline Partners LP grew its position in SpringWorks Therapeutics by 7.9% in the 4th quarter. Woodline Partners LP now owns 1,490,136 shares of the company’s stock valued at $53,839,000 after purchasing an additional 108,512 shares during the period. Finally, Zimmer Partners LP acquired a new stake in SpringWorks Therapeutics in the 4th quarter valued at $5,141,000.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SWTX. 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 report on Wednesday, February 12th. 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 restated a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a report on Wednesday, February 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a research report on Thursday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $71.50.

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.