Bhavesh Ashar Sells 1,016 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) insider Bhavesh Ashar sold 1,016 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total value of $62,169.04. Following the sale, the insider now directly owns 62,053 shares of the company’s stock, valued at approximately $3,797,023.07. This trade represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

SpringWorks Therapeutics Trading Down 4.5 %

NASDAQ SWTX opened at $54.03 on Wednesday. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $62.00. The stock has a market cap of $4.05 billion, a P/E ratio of -15.53 and a beta of 0.81. The stock’s fifty day moving average price is $41.79 and its 200-day moving average price is $37.96.

SpringWorks Therapeutics (NASDAQ:SWTX) last released 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). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The company had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $60.53 million. As a group, analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors have recently modified their holdings of SWTX. Creative Planning purchased a new stake in shares of SpringWorks Therapeutics in the third quarter worth $254,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after buying an additional 474 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of SpringWorks Therapeutics by 64.1% during 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 during the last quarter. Principal Financial Group Inc. boosted its position in shares of SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after buying an additional 464,903 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of SpringWorks Therapeutics by 13.7% during the third quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock valued at $1,474,000 after buying an additional 5,546 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently commented on SWTX. HC Wainwright restated a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a report on Friday, February 21st. 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. Wedbush reiterated an “outperform” rating and issued a $81.00 price objective on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Finally, Evercore ISI increased their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $71.50.

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.