SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Insider Sells $1,617,210.00 in Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) insider Daniel Pichl sold 29,750 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the sale, the insider now directly owns 50,762 shares of the company’s stock, valued at $2,759,422.32. This represents a 36.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

SpringWorks Therapeutics Stock Up 7.5 %

Shares of SWTX stock opened at $59.28 on Thursday. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $60.00. The business’s fifty day simple moving average is $38.35 and its 200-day simple moving average is $36.40.

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

Institutional Trading of SpringWorks Therapeutics

Several large investors have recently bought and sold shares of the stock. Huntington National Bank increased its holdings in shares of 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 purchasing an additional 192 shares during the period. AlphaQuest LLC raised its position in SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after buying an additional 414 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in SpringWorks Therapeutics during the 4th quarter valued at approximately $45,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of SpringWorks Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after acquiring an additional 474 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of SpringWorks Therapeutics by 59.1% in the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after acquiring an additional 978 shares during the period.

Analyst Ratings Changes

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