The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. SpringWorks Therapeutics Inc shares valued at $1,988,033 were sold by Islam Saqib on Sep 03 ’24. At $40.57 per share, Islam Saqib sold 49,000 shares. The insider’s holdings dropped to 1,063,368 shares worth approximately $32.73 million following the completion of this transaction.
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Also, Edris Badreddin sold 20,000 shares, netting a total of over 812,954 in proceeds. Following the sale of shares at $40.65 each, the insider now holds 229,600 shares.
Before that, Badreddin Edris had added 50,000 shares to its account. In a trade valued at $2,089,000, the Officer bought SpringWorks Therapeutics Inc shares for $41.78 each.
As published in their initiating research note from Guggenheim on February 05, 2024, SpringWorks Therapeutics Inc [SWTX] has been a Buy and the price target has been revised to $75. Analysts at BofA Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. As of January 19, 2021, H.C. Wainwright has reiterated its “Buy” rating for SWTX. Earlier on October 29, 2020, H.C. Wainwright resumed its rating. Their recommendation was “a Buy” for SWTX stock.
Analyzing SWTX Stock Performance
During the last five days, there has been a surge of approximately 1.42%. Over the course of the year, SpringWorks Therapeutics Inc shares have dropped approximately -15.67%. Shares of the company reached a 52-week high of $53.92 on 03/08/24 and a 52-week low of $29.65 on 10/17/24. A 50-day SMA is recorded $35.78, while a 200-day SMA reached $41.17. Nevertheless, trading volume fell to 0.92 million shares from 1.09 million shares the previous day.
Support And Resistance Levels for SpringWorks Therapeutics Inc (SWTX)
According to the 24-hour chart, there is a support level at 29.90, which, if violated, would cause prices to drop to 29.03. In the upper region, resistance lies at 31.40. The next price resistance is at 32.03. RSI (Relative Strength Index) is 36.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.97, which suggests the price will decrease in the coming days. Percent R is at 75.16%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
