Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Sells 175,000 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Daniel Lynch sold 175,000 shares of SpringWorks Therapeutics stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the completion of the transaction, the director now directly owns 130,944 shares of the company’s stock, valued at $7,131,210.24. This trade represents a 57.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

SpringWorks Therapeutics Stock Up 7.5 %

NASDAQ:SWTX traded up $4.15 on Wednesday, reaching $59.28. 4,270,393 shares of the company’s stock were exchanged, compared to its average volume of 2,597,517. The business has a fifty day moving average of $38.35 and a 200-day moving average of $36.40. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $60.00. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -15.28 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.03. The company had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The firm’s revenue was up 4810.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.27) earnings per share. As a group, equities analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SWTX has been the subject of a number of research reports. Evercore ISI upped their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a report on Wednesday. Wedbush restated an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday. Finally, Guggenheim reduced their price target on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $70.83.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its stake in shares of SpringWorks Therapeutics by 0.3% during the 3rd quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after buying an additional 28,555 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of SpringWorks Therapeutics by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock worth $258,650,000 after purchasing an additional 445,593 shares during the period. Maverick Capital Ltd. lifted 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 in the last quarter. Pictet Asset Management Holding SA raised its position 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 valued at $86,402,000 after purchasing an additional 465,494 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of SpringWorks Therapeutics by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock valued at $53,526,000 after purchasing an additional 109,189 shares in 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.