SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam Sells 48,000 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 48,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $53.30, for a total value of $2,558,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,002,502 shares in the company, valued at $53,433,356.60. This represents a 4.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

SpringWorks Therapeutics Trading Up 7.5 %

SWTX opened at $59.28 on Thursday. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $60.00. The business’s fifty day moving average is $38.35 and its two-hundred day moving average is $36.40.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) 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 business had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. During the same period in the previous year, the firm earned ($1.27) EPS. The business’s revenue for the quarter was up 4810.0% compared to the same quarter last year. Analysts forecast that SpringWorks Therapeutics, Inc. will post -3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on SWTX shares. Wedbush reissued an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday. Guggenheim reduced their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Evercore ISI upped 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics presently has an average rating of “Buy” and a consensus target price of $70.83.

Institutional Trading of SpringWorks Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of SWTX. Huntington National Bank increased its stake in shares of SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after purchasing an additional 192 shares in the last quarter. 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 during the last quarter. Venturi Wealth Management LLC purchased a new position in SpringWorks Therapeutics during the fourth quarter worth $45,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after acquiring an additional 474 shares during the last quarter. Finally, KBC Group NV lifted its position 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 valued at $95,000 after acquiring an additional 978 shares in the last quarter.

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.