SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) director Julie Hambleton has sold a total of $186,047 worth of company stock, according to a recent SEC filing. The transactions were carried out on June 3, 2024, and involved multiple sales at prices ranging from $39.4132 to $42.0905 per share.
The sales were conducted under a pre-arranged trading plan in accordance with Rule 10b5-1, which allows company insiders to set up a predetermined plan for buying or selling stocks at a time when they are not in possession of non-public information. This plan had been adopted on March 1, 2024.
The SEC filing detailed several transactions with varying numbers of shares sold. In one instance, Hambleton sold 2,946 shares at a weighted average price of $39.4132, with sales prices fluctuating between $39.02 and $40.01. Another transaction involved the sale of 751 shares at an average of $40.5665 each, with individual sales prices ranging from $40.02 to $40.96. Additionally, 931 shares were sold at an average price of $41.4924, with a spread from $41.02 to $42.00. The smallest batch consisted of 20 shares sold at an average price of $42.0905, with a price range between $42.06 and $42.17.
After these sales, the SEC filing indicated that Hambleton still owned 4,095 shares of SpringWorks Therapeutics. The transactions and the remaining holdings highlight the ongoing changes in insider ownership of the company's stock, which is often monitored by investors for insights into executive confidence in the company's prospects.
SpringWorks Therapeutics, based in Stamford, Connecticut, operates in the biotechnology industry, focusing on developing novel treatments for severe rare diseases and cancer. As with any trading activity by company insiders, these sales are publicly reported to provide transparency and maintain fair dealing in the market.
InvestingPro Insights
Following the recent insider stock sales by SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) director Julie Hambleton, investors may be curious about the financial health and market performance of the company. According to InvestingPro data, SpringWorks Therapeutics holds a market capitalization of $3.02 billion, with a notable gross profit margin of 93.86% over the last twelve months as of Q1 2024. Despite a challenging environment, the company has managed to maintain a significant gross profit, indicative of strong operational efficiency within its niche market.
InvestingPro Tips suggest that SpringWorks Therapeutics is in a solid financial position, holding more cash than debt on its balance sheet. This is an encouraging sign for investors, as it implies the company has a buffer to sustain operations and invest in growth. Furthermore, analysts have revised their earnings upwards for the upcoming period, which may be a reflection of the company's potential to improve its financial standing and market position.
However, it's noteworthy that SpringWorks Therapeutics is currently trading at a high revenue valuation multiple, and analysts do not anticipate the company will be profitable this year. This information could be crucial for investors weighing the risk-reward profile of the stock. Additionally, while the stock has experienced a large price uptick over the last six months, with a total return of 34.45%, it is still trading at 75.54% of its 52-week high, suggesting room for potential growth if the company's strategies pay off.
For investors seeking deeper insights, there are over 4 additional InvestingPro Tips available, which can be accessed through the company's dedicated page on the InvestingPro platform. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a comprehensive analysis that could further inform investment decisions.
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