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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Daniel Lynch sold 175,000 shares of the stock in a transaction dated Monday, February 10th. The shares were 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 in the company, valued at approximately $7,131,210.24. This represents a 57.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

SpringWorks Therapeutics Price Performance

SWTX opened at $59.28 on Thursday. The business’s fifty day moving average is $38.35 and its 200-day moving average is $36.40. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $60.00.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Evercore ISI increased their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wedbush reiterated an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday. HC Wainwright reissued a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Wednesday. Finally, Guggenheim lowered their price target on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $70.83.

Institutional Trading of SpringWorks Therapeutics

Several large investors have recently made changes to their positions in SWTX. Creative Planning bought a new stake in SpringWorks Therapeutics during the third quarter worth $254,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after buying an additional 474 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in SpringWorks Therapeutics by 64.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 14,285 shares of the company’s stock valued at $458,000 after buying an additional 5,582 shares in the last quarter. Principal Financial Group Inc. grew its position in SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after acquiring an additional 464,903 shares during the last quarter. Finally, Assetmark Inc. raised its stake in SpringWorks Therapeutics by 13.7% during the third quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock worth $1,474,000 after acquiring an additional 5,546 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.