Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Sells 10,672 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 10,672 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $59.92, for a total value of $639,466.24. Following the completion of the transaction, the chief executive officer now owns 1,063,953 shares in the company, valued at approximately $63,752,063.76. This trade represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Saqib Islam also recently made the following trade(s):

• On Monday, February 10th, Saqib Islam sold 48,000 shares of SpringWorks Therapeutics stock. The shares were sold at an average price of $53.30, for a total value of $2,558,400.00.

SpringWorks Therapeutics Stock Down 1.0 %

NASDAQ:SWTX traded down $0.57 during trading hours on Wednesday, hitting $55.73. 2,528,115 shares of the stock traded hands, compared to its average volume of 2,646,025. The company has a market cap of $4.15 billion, a price-to-earnings ratio of -14.36 and a beta of 0.81. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $60.00. The stock has a 50 day moving average price of $39.95 and a 200 day moving average price of $37.18.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SWTX shares. Wedbush reiterated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, February 10th. Guggenheim decreased 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 reissued a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday, February 12th. Finally, Evercore ISI raised their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $70.83.

Institutional Inflows and Outflows

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

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.