Saqib Islam Sells 48,000 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 48,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $53.30, for a total value of $2,558,400.00. Following the sale, the chief executive officer now directly owns 1,002,502 shares in the company, valued at approximately $53,433,356.60. The trade was a 4.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ:SWTX opened at $57.43 on Friday. The company has a market cap of $4.27 billion, a P/E ratio of -14.80 and a beta of 0.81. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $60.00. The business’s 50-day simple moving average is $39.03 and its 200 day simple moving average is $36.71.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its 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 business had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The company’s revenue was up 4810.0% on a year-over-year basis. During the same period last year, the business posted ($1.27) EPS. Analysts predict that SpringWorks Therapeutics, Inc. will post -3.03 earnings per share for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Hedge funds have recently modified their holdings of the stock. Huntington National Bank raised its holdings in shares of SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after buying an additional 192 shares during the period. AlphaQuest LLC raised its holdings in shares of SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after buying an additional 414 shares during the period. Venturi Wealth Management LLC purchased a new stake in SpringWorks Therapeutics during the 4th quarter worth approximately $45,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 purchasing an additional 474 shares during the last quarter. Finally, KBC Group NV increased its holdings in SpringWorks Therapeutics by 59.1% during the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after purchasing an additional 978 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Evercore ISI raised their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. HC Wainwright reissued a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Wednesday. Wedbush reissued an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, February 10th. Finally, Guggenheim reduced their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics has an average rating of “Buy” and a consensus price target of $70.83.

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.