Daniel Pichl Sells 29,750 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) insider Daniel Pichl sold 29,750 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the completion of the transaction, the insider now owns 50,762 shares of the company’s stock, valued at approximately $2,759,422.32. The trade was a 36.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

SpringWorks Therapeutics Price Performance

SpringWorks Therapeutics stock traded up $4.15 during trading hours on Wednesday, reaching $59.28. The stock had a trading volume of 4,270,393 shares, compared to its average volume of 2,597,517. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -15.28 and a beta of 0.81. The business’s 50 day moving average price is $38.35 and its 200-day moving average price is $36.40. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $60.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The firm had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. During the same quarter in the prior year, the company posted ($1.27) earnings per share. The company’s revenue for the quarter was up 4810.0% compared to the same quarter last year. On average, sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SWTX. Alpha DNA Investment Management LLC acquired a new stake in shares of SpringWorks Therapeutics in the 3rd quarter worth $411,000. Ally Bridge Group NY LLC purchased a new position in shares of SpringWorks Therapeutics during the 3rd quarter worth $7,296,000. AMI Asset Management Corp purchased a new position in shares of SpringWorks Therapeutics during the 4th quarter worth $1,438,000. Los Angeles Capital Management LLC grew its holdings in shares of SpringWorks Therapeutics by 238.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock worth $1,513,000 after purchasing an additional 33,255 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of SpringWorks Therapeutics by 13.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company’s stock worth $19,295,000 after purchasing an additional 73,613 shares during the period.

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.