Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
STAMFORD, CT—Edris Badreddin, Chief Operating Officer of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX), sold 30,000 shares of the company’s common stock on February 10, 2025. The shares were sold at a weighted average price of $53.1265, resulting in a total transaction value of approximately $1.59 million. This sale was executed under a pre-established Rule 10b5-1 trading plan, which was adopted on February 29, 2024. The transaction comes as SpringWorks stock has shown remarkable strength, with a 51% gain in the past week and trading near its 52-week high of $60. According to InvestingPro analysis, the company maintains strong financial health with a current ratio of 6.16, indicating robust liquidity.
Following the transaction, Badreddin retains ownership of 189,712 shares of SpringWorks Therapeutics. The sale was conducted in multiple transactions with prices ranging from $53.00 to $53.76 per share, as noted in the filing. InvestingPro subscribers have access to 14 additional key insights about SpringWorks, including detailed valuation metrics and growth forecasts. The company’s comprehensive Pro Research Report, available to subscribers, provides in-depth analysis of its market position and future prospects.
In other recent news, SpringWorks Therapeutics has been the focus of several significant developments. The company has seen a positive response from the market following the FDA approval of its drug, GOMEKLI, for the treatment of neurofibromatosis type 1. TD Cowen analysts increased their price target for SpringWorks shares to $66.00, maintaining a "Buy" rating, reflecting positive expectations after GOMEKLI’s approval.
Simultaneously, Merck (NSE:PROR) KGaA is in advanced discussions to potentially acquire SpringWorks Therapeutics. Although no legally binding agreement has been reached, the talks are seen as a promising development for the company.
Analyst firms have also weighed in on SpringWorks. Guggenheim maintained a positive outlook on the company, adjusting the price target to $78, while Evercore ISI initiated coverage with an Outperform rating and a price target of $60.00. These evaluations underline the potential for SpringWorks, especially given its recent FDA approval and the ongoing Merck KGaA acquisition discussions.
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