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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Director Daniel Lynch sold 47,600 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly 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 filing with the SEC, which is accessible through this link.

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 transaction 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 Performance

NASDAQ SWTX opened at $56.56 on Tuesday. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00. The stock’s 50 day moving average price is $41.47 and its two-hundred day moving average price is $37.84. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of -16.25 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data 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 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 forecast that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Wall Street Analyst Weigh In

SWTX has been the subject of several recent analyst reports. Evercore ISI increased their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. HC Wainwright reissued a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday. Guggenheim dropped their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $71.50.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boxer Capital Management LLC acquired a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at about $123,620,000. Capital International Investors boosted its position in SpringWorks Therapeutics by 92.7% during the fourth quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock valued at $85,330,000 after purchasing an additional 1,136,079 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in SpringWorks Therapeutics by 24.2% in the fourth 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 in the last quarter. Principal Financial Group Inc. increased 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 worth $29,427,000 after purchasing an additional 464,903 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of SpringWorks Therapeutics by 6.6% during the 4th 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 in the last quarter.

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.