Bhavesh Ashar Sells 1,016 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) insider Bhavesh Ashar sold 1,016 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 62,053 shares of the company’s stock, valued at $3,797,023.07. This trade represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

SpringWorks Therapeutics Stock Down 2.9 %

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

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On SpringWorks Therapeutics

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

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.