SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam Sells 29,328 Shares

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 29,328 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $60.30, for a total transaction of $1,768,478.40. Following the sale, the chief executive officer now owns 1,034,625 shares of the company’s stock, valued at approximately $62,387,887.50. The trade was a 2.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Saqib Islam also recently made the following trade(s):

• On Friday, February 14th, Saqib Islam sold 10,672 shares of SpringWorks Therapeutics stock. The shares were sold at an average price of $59.92, for a total value of $639,466.24.
• 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 value of $2,558,400.00.

SpringWorks Therapeutics Stock Down 2.9 %

NASDAQ:SWTX opened at $56.56 on Tuesday. The firm’s fifty day simple moving average is $41.47 and its 200 day simple moving average is $37.84. The stock has a market cap of $4.24 billion, a P/E ratio of -16.25 and a beta of 0.81. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $62.00.

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

Analysts Set New Price Targets

SWTX has been the subject of a number of analyst reports. Guggenheim dropped 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. HC Wainwright reissued a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Friday. Evercore ISI raised their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics presently has an average rating of “Buy” and a consensus target price of $71.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SWTX. Boxer Capital Management LLC purchased a new position in shares of SpringWorks Therapeutics in the 4th quarter valued at approximately $123,620,000. Capital International Investors raised its holdings in SpringWorks Therapeutics by 92.7% in the fourth quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock worth $85,330,000 after purchasing an additional 1,136,079 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in SpringWorks Therapeutics by 24.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock valued at $86,402,000 after buying an additional 465,494 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after buying an additional 464,903 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of SpringWorks Therapeutics by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock worth $258,650,000 after buying an additional 445,593 shares during the period.

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.