Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SpringWorks Therapeutics Inc shares valued at $2,027,357 were sold by Islam Saqib on Dec 02 ’24. At $41.37 per share, Islam Saqib sold 49,000 shares. The insider’s holdings dropped to 1,014,368 shares worth approximately $42.92 million following the completion of this transaction.
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Also, Islam Saqib sold 49,000 shares, netting a total of over 1,988,033 in proceeds. Following the sale of shares at $40.57 each, the insider now holds 1,063,368 shares.
Before that, Edris Badreddin had sold 20,000 shares from its account. In a trade valued at $812,954, the Chief Operating Officer traded SpringWorks Therapeutics Inc shares for $40.65 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $9.71 million.
As published in their initiating research note from Evercore ISI on November 20, 2024, SpringWorks Therapeutics Inc [SWTX] has been an Outperform and the price target has been revised to $60. Analysts at Guggenheim started covering the stock with ‘”a Buy”‘ outlook in a report released in early February. As of December 01, 2022, BofA Securities has initiated its “Buy” rating for SWTX. Earlier on January 19, 2021, 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 2.64%. Over the course of the year, SpringWorks Therapeutics Inc shares have jumped approximately 15.92%. Shares of the company reached a 52-week high of $53.92 on 03/08/24 and a 52-week low of $28.21 on 10/24/24. A 50-day SMA is recorded $33.59, while a 200-day SMA reached $39.71. Nevertheless, trading volume fell to 1.19 million shares from 1.02 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 41.35, which, if violated, would cause prices to drop to 40.38. In the upper region, resistance lies at 44.10. The next price resistance is at 45.88. RSI (Relative Strength Index) is 73.01 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.04, which suggests the price will increase in the coming days. Percent R is at 24.35%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Which companies own the most shares of SpringWorks Therapeutics Inc (SWTX)?
On October 29, 2020, H.C. Wainwright assigned a price target of “a Buy” to the stock and reiterated coverage with a $73.
