SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Sells $2,866,472.00 in Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Daniel Lynch sold 47,600 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $60.22, for a total value of $2,866,472.00. Following the completion of the sale, the director now owns 82,944 shares in the company, valued at $4,994,887.68. The trade was a 36.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Daniel Lynch also recently made the following trade(s):

• On Friday, February 14th, Daniel Lynch sold 400 shares of SpringWorks Therapeutics stock. The shares were sold at an average price of $60.00, for a total value of $24,000.00.
• On Monday, February 10th, Daniel Lynch sold 175,000 shares of SpringWorks Therapeutics stock. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00.

SpringWorks Therapeutics Stock Performance

Shares of SWTX traded down $1.69 during mid-day trading on Monday, hitting $56.56. 2,464,010 shares of the company were exchanged, compared to its average volume of 2,740,043. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of -16.25 and a beta of 0.81. SpringWorks Therapeutics, Inc. has a 1-year low of $28.21 and a 1-year high of $62.00. The company has a 50 day moving average of $41.10 and a 200-day moving average of $37.70.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The firm had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. Research analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning purchased a new position in shares of SpringWorks Therapeutics in the third quarter worth about $254,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 worth $87,000 after purchasing an additional 474 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of 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 purchasing an additional 5,582 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after purchasing an additional 464,903 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of 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 purchasing an additional 5,546 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SWTX shares. Evercore ISI boosted their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Guggenheim decreased their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Wedbush restated an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday. Finally, HC Wainwright restated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $71.50.

About SpringWorks Therapeutics

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.