Badreddin Edris Sells 20,000 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) COO Badreddin Edris sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $54.23, for a total transaction of $1,084,600.00. Following the completion of the sale, the chief operating officer now directly owns 169,712 shares in the company, valued at $9,203,481.76. This represents a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Badreddin Edris also recently made the following trade(s):

• On Monday, February 10th, Badreddin Edris sold 30,000 shares of SpringWorks Therapeutics stock. The stock was sold at an average price of $53.13, for a total transaction of $1,593,900.00.

SpringWorks Therapeutics Stock Up 1.4 %

SWTX opened at $51.32 on Friday. The firm has a market capitalization of $3.85 billion, a P/E ratio of -14.75 and a beta of 0.76. The firm’s 50 day moving average is $44.14 and its 200-day moving average is $38.75. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The firm had revenue of $61.55 million for the quarter, compared to analysts’ expectations of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. Equities analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. 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 report on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. HC Wainwright reaffirmed a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Finally, Guggenheim reduced their price target 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $73.20.

Institutional Trading of SpringWorks Therapeutics

A number of hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new stake in shares of SpringWorks Therapeutics during the fourth quarter valued at approximately $56,000. Palisades Investment Partners LLC increased its stake in shares of SpringWorks Therapeutics by 9.9% in the fourth quarter. Palisades Investment Partners LLC now owns 134,445 shares of the company’s stock worth $4,857,000 after buying an additional 12,154 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of SpringWorks Therapeutics by 19.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,052 shares of the company’s stock worth $4,301,000 after buying an additional 19,315 shares during the last quarter. Woodline Partners LP increased its stake in shares of SpringWorks Therapeutics by 7.9% in the fourth quarter. Woodline Partners LP now owns 1,490,136 shares of the company’s stock worth $53,839,000 after buying an additional 108,512 shares during the last quarter. Finally, Zimmer Partners LP bought a new stake in shares of SpringWorks Therapeutics in the fourth quarter worth $5,141,000.

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.