SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Insider Bhavesh Ashar Sells 1,016 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) insider Bhavesh Ashar sold 1,016 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total transaction of $62,169.04. Following the sale, the insider now directly owns 62,053 shares of the company’s stock, valued at approximately $3,797,023.07. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ SWTX traded down $1.69 during mid-day 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 stock has a market cap of $4.24 billion, a price-to-earnings ratio of -16.25 and a beta of 0.81. The firm’s 50 day simple moving average is $41.10 and its two-hundred day simple moving average is $37.70. 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 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). The company had revenue of $61.55 million during the quarter, compared to the consensus estimate of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. Equities analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its stake in shares of SpringWorks Therapeutics by 0.3% in the third quarter. FMR LLC now owns 11,140,946 shares of the company’s stock valued at $356,956,000 after purchasing an additional 28,555 shares during the period. Vanguard Group Inc. increased its position in SpringWorks Therapeutics by 6.6% in the 4th 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. Boxer Capital Management LLC bought a new stake in SpringWorks Therapeutics during the 4th quarter valued at $123,620,000. Maverick Capital Ltd. boosted its position in SpringWorks Therapeutics by 6.8% during the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after acquiring an additional 177,824 shares during the period. Finally, Pictet Asset Management Holding SA grew its stake in shares of SpringWorks Therapeutics by 24.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after purchasing an additional 465,494 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SWTX shares. HC Wainwright restated a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday. Guggenheim lowered their price objective on 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 lifted their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics has a consensus 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.