SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Insider Sells $62,169.04 in Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) insider Bhavesh Ashar sold 1,016 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $61.19, for a total value of $62,169.04. Following the transaction, the insider now owns 62,053 shares in the company, valued at approximately $3,797,023.07. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SpringWorks Therapeutics Stock Up 0.2 %

Shares of SWTX stock opened at $54.14 on Thursday. The stock has a market cap of $4.06 billion, a PE ratio of -15.56 and a beta of 0.81. The business has a 50-day simple moving average of $42.16 and a 200-day simple moving average of $38.07. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.38). The company had revenue of $61.55 million during 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%. Sell-side analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SpringWorks Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of SWTX. Huntington National Bank lifted its holdings in shares of SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after buying an additional 192 shares during the period. AlphaQuest LLC increased its stake in shares of SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after purchasing an additional 414 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of SpringWorks Therapeutics in the 4th quarter valued at about $45,000. State of Wyoming increased its stake in shares of SpringWorks Therapeutics by 39.5% in the 4th quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after purchasing an additional 433 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of SpringWorks Therapeutics in the 4th quarter valued at about $56,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on SWTX shares. Guggenheim lowered their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Evercore ISI lifted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. HC Wainwright reaffirmed a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Finally, Wedbush reaffirmed an “outperform” rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target 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.