SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) COO Badreddin Edris Sells 30,000 Shares

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) COO Badreddin Edris sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the completion of the sale, the chief operating officer now directly owns 189,712 shares of the company’s stock, valued at approximately $10,079,398.56. This represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Badreddin Edris also recently made the following trade(s):

• On Tuesday, December 3rd, Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock. The stock was sold at an average price of $41.97, for a total transaction of $839,400.00.

SpringWorks Therapeutics Stock Up 7.5 %

SWTX 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 stock’s 50 day moving average price is $38.35 and its two-hundred day moving average price is $36.40.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm posted ($1.27) earnings per share. SpringWorks Therapeutics’s revenue was up 4810.0% compared to the same quarter last year. On average, sell-side analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SWTX shares. Guggenheim reduced their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Evercore ISI boosted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Wednesday. Finally, Wedbush restated an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a report on Monday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics presently has a consensus rating of “Buy” and an average target price of $70.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SWTX. Pictet Asset Management Holding SA raised its holdings in shares of SpringWorks Therapeutics by 24.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after buying an additional 465,494 shares in the last quarter. Principal Financial Group Inc. raised its stake in SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after acquiring an additional 464,903 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of SpringWorks Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock valued at $258,650,000 after acquiring an additional 445,593 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at $10,527,000. Finally, Walleye Capital LLC grew its holdings in shares of SpringWorks Therapeutics by 2,439.4% in the 3rd quarter. Walleye Capital LLC now owns 286,093 shares of the company’s stock worth $9,166,000 after purchasing an additional 274,827 shares during the last quarter.

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.