Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
Islam Saqib, the Chief Executive Officer of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX), sold 48,000 shares of the company’s common stock on February 10, 2025. The sale comes as the stock trades near its 52-week high of $60, having delivered an impressive 51% return in the past week alone. The shares were sold at a weighted average price of $53.30, totaling approximately $2.56 million. This transaction was conducted under a pre-established trading plan in accordance with Rule 10b5-1. Following this sale, Saqib retains ownership of 1,002,502 shares in the $4.3 billion market cap company, which maintains impressive gross profit margins of 95%. According to InvestingPro analysis, the stock appears to be trading near its Fair Value, with the company scheduled to report earnings on February 20, 2025. For deeper insights into insider trading patterns and 14 additional ProTips, consider exploring the comprehensive Pro Research Report available on InvestingPro.
In other recent news, SpringWorks Therapeutics has been the subject of multiple analyst notes and significant developments. The company’s shares have seen a positive response following the FDA approval of its drug, GOMEKLI, for the treatment of neurofibromatosis type 1 (NF1) with symptomatic plexiform neurofibromas (PN). This achievement was lauded by TD Cowen analysts, who raised their price target for SpringWorks to $66.00.
Guggenheim maintained a positive outlook on the company while adjusting the price target to $78, and Evercore ISI initiated coverage with an Outperform rating, setting a price target of $60.00.
Adding to these developments, there are ongoing discussions about a potential acquisition of SpringWorks Therapeutics by Germany-based Merck (NSE:PROR) KGaA. However, no legally binding agreement has been reached yet.
These are some of the recent developments involving SpringWorks Therapeutics, a company committed to addressing severe rare diseases and cancer.
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