Daniel Lynch Sells 47,600 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Daniel Lynch sold 47,600 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $60.22, for a total transaction of $2,866,472.00. Following the sale, the director now owns 82,944 shares of the company’s stock, valued at $4,994,887.68. The trade was a 36.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Daniel Lynch also recently made the following trade(s):

• On Friday, February 14th, Daniel Lynch sold 400 shares of SpringWorks Therapeutics stock. The shares were sold at an average price of $60.00, for a total value of $24,000.00.
• On Monday, February 10th, Daniel Lynch sold 175,000 shares of SpringWorks Therapeutics stock. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00.

SpringWorks Therapeutics Stock Down 4.5 %

NASDAQ SWTX opened at $54.03 on Wednesday. The business has a 50 day moving average price of $41.79 and a 200-day moving average price of $37.96. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -15.53 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its 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). The firm had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. On average, equities research analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Hedge Funds Weigh In On SpringWorks Therapeutics

Several hedge funds have recently made changes to their positions in SWTX. FMR LLC boosted its position in shares of SpringWorks Therapeutics by 0.3% during the 3rd quarter. FMR LLC now owns 11,140,946 shares of the company’s stock valued at $356,956,000 after acquiring an additional 28,555 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of SpringWorks Therapeutics by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock worth $258,650,000 after purchasing an additional 445,593 shares during the last quarter. Boxer Capital Management LLC purchased a new position in shares of SpringWorks Therapeutics during the fourth quarter valued at approximately $123,620,000. Maverick Capital Ltd. raised its stake in SpringWorks Therapeutics by 6.8% in the third quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after buying an additional 177,824 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in shares of SpringWorks Therapeutics by 24.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock valued at $86,402,000 after purchasing an additional 465,494 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SWTX shares. Wedbush reiterated an “outperform” rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. 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, February 12th. HC Wainwright reissued a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Finally, Guggenheim reduced their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Six investment 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.

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.