SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam Sells 49,000 Shares

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 49,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the sale, the chief executive officer now directly owns 954,869 shares in the company, valued at $51,792,094.56. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Thursday, February 20th, Saqib Islam sold 29,328 shares of SpringWorks Therapeutics stock. The stock was sold at an average price of $60.30, for a total transaction of $1,768,478.40.
• On Friday, February 14th, Saqib Islam sold 10,672 shares of SpringWorks Therapeutics stock. The stock was sold at an average price of $59.92, for a total transaction 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 transaction of $2,558,400.00.

SpringWorks Therapeutics Stock Performance

SWTX stock opened at $50.59 on Thursday. The company’s 50-day simple moving average is $43.86 and its 200 day simple moving average is $38.66. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00. The company has a market capitalization of $3.79 billion, a PE ratio of -14.54 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate 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 business had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. On average, analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Analyst Upgrades and Downgrades

SWTX has been the topic of several analyst reports. Wedbush reaffirmed an “outperform” rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Guggenheim decreased their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. HC Wainwright reiterated a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Finally, Evercore ISI upped their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $73.20.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC grew its stake in shares of SpringWorks Therapeutics by 30.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company’s stock valued at $2,231,000 after acquiring an additional 14,548 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new position in shares of SpringWorks Therapeutics in the third quarter valued at about $411,000. Principal Financial Group Inc. grew its stake in SpringWorks Therapeutics by 20.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock worth $39,882,000 after buying an additional 185,413 shares in the last quarter. Ally Bridge Group NY LLC acquired a new stake in SpringWorks Therapeutics during the third quarter worth about $7,296,000. Finally, AMI Asset Management Corp acquired a new stake in SpringWorks Therapeutics during the fourth quarter worth about $1,438,000.

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.