Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Sells 10,672 Shares of Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 10,672 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $59.92, for a total transaction of $639,466.24. Following the completion of the sale, the chief executive officer now directly owns 1,063,953 shares of the company’s stock, valued at approximately $63,752,063.76. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• 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 Trading Down 1.0 %

NASDAQ:SWTX traded down $0.57 during trading hours on Wednesday, reaching $55.73. 2,528,115 shares of the company traded hands, compared to its average volume of 2,646,025. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $60.00. The business’s 50-day moving average price is $39.95 and its two-hundred day moving average price is $37.18. The stock has a market capitalization of $4.15 billion, a P/E ratio of -14.36 and a beta of 0.81.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in shares of SpringWorks Therapeutics during the fourth quarter valued at approximately $56,000. Palisades Investment Partners LLC lifted its holdings in shares of SpringWorks Therapeutics by 9.9% during the fourth quarter. Palisades Investment Partners LLC now owns 134,445 shares of the company’s stock valued at $4,857,000 after purchasing an additional 12,154 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in SpringWorks Therapeutics by 19.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,052 shares of the company’s stock valued at $4,301,000 after acquiring an additional 19,315 shares during the period. Woodline Partners LP boosted its holdings in shares of SpringWorks Therapeutics by 7.9% during the 4th quarter. Woodline Partners LP now owns 1,490,136 shares of the company’s stock valued at $53,839,000 after acquiring an additional 108,512 shares during the last quarter. Finally, Zimmer Partners LP bought a new stake in shares of SpringWorks Therapeutics in the fourth quarter worth approximately $5,141,000.

Analysts Set New Price Targets

SWTX has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a report on Wednesday, February 12th. Guggenheim decreased their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Evercore ISI raised their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Monday, February 10th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics has an average rating of “Buy” and a consensus price target of $70.83.

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.