SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Sells $9,530,500.00 in Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Daniel Lynch sold 175,000 shares of SpringWorks Therapeutics stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00. Following the transaction, the director now directly owns 130,944 shares in the company, valued at $7,131,210.24. The trade was a 57.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

SpringWorks Therapeutics Trading Up 7.5 %

Shares of SWTX traded up $4.15 during mid-day trading on Wednesday, hitting $59.28. The company’s stock had a trading volume of 4,270,393 shares, compared to its average volume of 2,597,517. The company’s 50-day moving average is $38.35 and its 200-day moving average is $36.40. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $60.00. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -15.28 and a beta of 0.81.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Wednesday. Guggenheim reduced their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Wedbush restated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Monday. Finally, Evercore ISI increased their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $70.83.

Institutional Investors Weigh In On SpringWorks Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pictet Asset Management Holding SA boosted its holdings in shares of SpringWorks Therapeutics by 24.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock valued at $86,402,000 after buying an additional 465,494 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after purchasing an additional 464,903 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of SpringWorks Therapeutics by 6.6% in the fourth 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 last quarter. Raymond James Financial Inc. acquired a new stake in shares of SpringWorks Therapeutics in the fourth quarter worth approximately $10,527,000. Finally, Walleye Capital LLC raised its holdings in SpringWorks Therapeutics by 2,439.4% in the third quarter. Walleye Capital LLC now owns 286,093 shares of the company’s stock valued at $9,166,000 after buying an additional 274,827 shares during the period.

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.