Saqib Islam Sells 10,672 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 10,672 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $59.92, for a total transaction of $639,466.24. Following the sale, the chief executive officer now owns 1,063,953 shares in the company, valued at $63,752,063.76. The trade was a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00.

SpringWorks Therapeutics Trading Up 7.5 %

SWTX stock opened at $59.93 on Friday. The stock has a market capitalization of $4.46 billion, a P/E ratio of -15.45 and a beta of 0.81. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $62.00. The firm has a 50-day moving average price of $40.70 and a 200-day moving average price of $37.47.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. As a group, equities analysts predict that SpringWorks Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SWTX shares. HC Wainwright reiterated a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday, February 12th. Guggenheim reduced their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Wedbush reiterated an “outperform” rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a research note on Thursday. Finally, Evercore ISI increased their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $71.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new position in SpringWorks Therapeutics in the 4th quarter valued at approximately $56,000. Palisades Investment Partners LLC raised its holdings in SpringWorks Therapeutics by 9.9% in the 4th quarter. Palisades Investment Partners LLC now owns 134,445 shares of the company’s stock valued at $4,857,000 after buying an additional 12,154 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in SpringWorks Therapeutics by 19.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,052 shares of the company’s stock valued at $4,301,000 after buying an additional 19,315 shares during the last quarter. Woodline Partners LP raised its holdings in SpringWorks Therapeutics by 7.9% in the 4th quarter. Woodline Partners LP now owns 1,490,136 shares of the company’s stock valued at $53,839,000 after buying an additional 108,512 shares during the last quarter. Finally, Zimmer Partners LP bought a new position in SpringWorks Therapeutics in the 4th quarter valued at approximately $5,141,000.

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.