Julie Hambleton Sells 1,106 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX – Get Rating) Director Julie Hambleton sold 1,106 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $31.50, for a total transaction of $34,839.00. Following the transaction, the director now owns 4,818 shares of the company’s stock, valued at approximately $151,767. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

SpringWorks Therapeutics Trading Down 2.7 %

Shares of SpringWorks Therapeutics stock opened at $29.03 on Friday. The company has a 50-day moving average of $30.03 and a two-hundred day moving average of $27.07. SpringWorks Therapeutics, Inc. has a 12-month low of $13.60 and a 12-month high of $65.92. The stock has a market cap of $1.81 billion, a PE ratio of -5.55 and a beta of 0.63.

SpringWorks Therapeutics (NASDAQ:SWTX – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.18). During the same period last year, the business posted ($1.15) earnings per share. On average, sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -5.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SWTX. Macquarie Group Ltd. raised its stake in shares of SpringWorks Therapeutics by 24,111.8% during the 4th quarter. Macquarie Group Ltd. now owns 32,928 shares of the company’s stock worth $856,000 after buying an additional 32,792 shares during the last quarter. Sphera Funds Management LTD. raised its position in SpringWorks Therapeutics by 5.0% during the fourth quarter. Sphera Funds Management LTD. now owns 316,625 shares of the company’s stock worth $8,235,000 after acquiring an additional 15,000 shares during the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of SpringWorks Therapeutics by 11.2% in the fourth quarter. State of Wisconsin Investment Board now owns 59,892 shares of the company’s stock valued at $1,558,000 after purchasing an additional 6,018 shares in the last quarter. Norges Bank purchased a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at about $9,304,000. Finally, Algert Global LLC acquired a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at approximately $474,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SWTX. JPMorgan Chase & Co. boosted their price target on shares of SpringWorks Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 7th. Bank of America assumed coverage on SpringWorks Therapeutics in a research report on Thursday, December 1st. They set a “buy” rating and a $45.00 target price on the stock. HC Wainwright raised their price target on SpringWorks Therapeutics from $99.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, March 7th. The Goldman Sachs Group upped their price objective on SpringWorks Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, January 26th. Finally, Wedbush set a $45.00 price objective on SpringWorks Therapeutics in a research report on Thursday, November 24th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $59.40.

SpringWorks Therapeutics Company Profile

(Get Rating)

SpringWorks Therapeutics, Inc acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase III clinical trial for the treatment of desmoid tumors.