Insider Selling: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) COO Sells $1,593,900.00 in Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) COO Badreddin Edris sold 30,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $53.13, for a total value of $1,593,900.00. Following the completion of the sale, the chief operating officer now owns 189,712 shares of the company’s stock, valued at approximately $10,079,398.56. This trade represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, December 3rd, Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock. The shares were sold at an average price of $41.97, for a total value of $839,400.00.

SpringWorks Therapeutics Stock Down 2.0 %

SpringWorks Therapeutics stock opened at $57.43 on Friday. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of -14.80 and a beta of 0.81. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $60.00. The business’s 50-day moving average price is $39.03 and its 200 day moving average price is $36.71.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SWTX. Guggenheim cut 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 reissued an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Monday, February 10th. HC Wainwright reissued a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Wednesday. Finally, Evercore ISI increased their price objective on 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 data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $70.83.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of hedge funds have recently bought and sold shares of SWTX. Creative Planning purchased a new position in SpringWorks Therapeutics during the third quarter worth approximately $254,000. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 worth $87,000 after purchasing an additional 474 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in 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 worth $458,000 after purchasing an additional 5,582 shares in the last quarter. Principal Financial Group Inc. boosted its position in SpringWorks Therapeutics by 102.5% during the third 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 in the last quarter. Finally, Assetmark Inc. lifted its position in shares of SpringWorks Therapeutics by 13.7% in the third quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock valued at $1,474,000 after acquiring an additional 5,546 shares in the last quarter.

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.