Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Sells 47,600 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Daniel Lynch sold 47,600 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $60.22, for a total transaction of $2,866,472.00. Following the completion of the transaction, the director now directly owns 82,944 shares of the company’s stock, valued at $4,994,887.68. This trade represents a 36.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Daniel Lynch also recently made the following trade(s):

• On Friday, February 14th, Daniel Lynch sold 400 shares of SpringWorks Therapeutics stock. The shares were sold at an average price of $60.00, for a total value of $24,000.00.
• On Monday, February 10th, Daniel Lynch sold 175,000 shares of SpringWorks Therapeutics stock. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00.

SpringWorks Therapeutics Stock Down 2.9 %

Shares of SpringWorks Therapeutics stock traded down $1.69 during midday trading on Monday, hitting $56.56. The company had a trading volume of 2,464,010 shares, compared to its average volume of 2,740,043. The company has a fifty day simple moving average of $41.10 and a 200 day simple moving average of $37.70. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of -16.25 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.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The company had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $60.53 million. As a group, analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new position in shares of SpringWorks Therapeutics in the fourth quarter valued at about $56,000. Palisades Investment Partners LLC boosted its position in SpringWorks Therapeutics by 9.9% in the fourth 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 increased 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 worth $4,301,000 after buying an additional 19,315 shares during the period. Woodline Partners LP increased 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 worth $53,839,000 after buying an additional 108,512 shares during the period. Finally, Zimmer Partners LP purchased a new position in SpringWorks Therapeutics during the 4th quarter worth approximately $5,141,000.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SWTX shares. Guggenheim reduced their target price on shares of 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 boosted 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. Wedbush reissued an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a report on Friday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $71.50.

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.