Saqib Islam Sells 29,328 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) CEO Saqib Islam sold 29,328 shares of SpringWorks Therapeutics stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $60.30, for a total value of $1,768,478.40. Following the transaction, the chief executive officer now owns 1,034,625 shares of the company’s stock, valued at approximately $62,387,887.50. This represents a 2.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Friday, February 14th, Saqib Islam sold 10,672 shares of SpringWorks Therapeutics stock. The shares were 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 shares were sold at an average price of $53.30, for a total transaction of $2,558,400.00.

SpringWorks Therapeutics Stock Performance

NASDAQ SWTX opened at $54.03 on Wednesday. The business has a fifty day moving average price of $41.79 and a 200 day moving average price of $37.96. The company has a market cap of $4.05 billion, a P/E ratio of -15.53 and a beta of 0.81. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The business had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. As a group, sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of large investors have recently made changes to their positions in SWTX. Boxer Capital Management LLC purchased a new position in SpringWorks Therapeutics during the fourth quarter worth approximately $123,620,000. Capital International Investors increased its stake in shares of SpringWorks Therapeutics by 92.7% in the 4th quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock worth $85,330,000 after acquiring an additional 1,136,079 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of SpringWorks Therapeutics by 24.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after acquiring an additional 465,494 shares during the period. Principal Financial Group Inc. boosted its position in shares of SpringWorks Therapeutics by 102.5% during the 3rd 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, Vanguard Group Inc. grew its holdings 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 valued at $258,650,000 after purchasing an additional 445,593 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SWTX. HC Wainwright restated a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Guggenheim dropped their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Wedbush reaffirmed an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Finally, Evercore ISI lifted their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.