Daniel Lynch Sells 175,000 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Daniel Lynch sold 175,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.46, for a total value of $9,530,500.00. Following the completion of the transaction, the director now owns 130,944 shares of the company’s stock, 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 legal filing with the SEC, which is available through this hyperlink.

SpringWorks Therapeutics Stock Performance

Shares of SWTX opened at $59.28 on Thursday. The business has a 50-day moving average of $38.35 and a 200-day moving average of $36.40. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $60.00.

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

Institutional Investors Weigh In On SpringWorks Therapeutics

Large investors have recently modified their holdings of the company. Huntington National Bank lifted its holdings in SpringWorks Therapeutics by 38.2% in the fourth 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. Headlands Technologies LLC acquired a new position in shares of SpringWorks Therapeutics in the 4th quarter valued at about $171,000. Schroder Investment Management Group boosted its position in shares of SpringWorks Therapeutics by 93.6% during the 4th quarter. Schroder Investment Management Group now owns 168,209 shares of the company’s stock valued at $6,113,000 after purchasing an additional 81,314 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in SpringWorks Therapeutics by 10.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 32,997 shares of the company’s stock worth $1,192,000 after purchasing an additional 3,058 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in SpringWorks Therapeutics by 24.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after purchasing an additional 465,494 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. HC Wainwright reiterated a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Monday. Evercore ISI boosted their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Guggenheim decreased their price target 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $70.83.

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.