SpringWorks Therapeutics’ (NASDAQ:SWTX) Quiet Period To Expire on October 23rd

SpringWorks Therapeutics’ (NASDAQ:SWTX) quiet period will end on Wednesday, October 23rd. SpringWorks Therapeutics had issued 9,000,000 shares in its public offering on September 13th. The total size of the offering was $162,000,000 based on an initial share price of $18.00. During SpringWorks Therapeutics’ quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of analysts have recently weighed in on SWTX shares. Wedbush started coverage on SpringWorks Therapeutics in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $33.00 price objective for the company. Cowen started coverage on SpringWorks Therapeutics in a research report on Tuesday, October 8th. They issued an “outperform” rating for the company. Goldman Sachs Group started coverage on SpringWorks Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on SpringWorks Therapeutics in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $32.00 price objective for the company.

SpringWorks Therapeutics stock opened at $21.84 on Wednesday. SpringWorks Therapeutics has a 1-year low of $17.66 and a 1-year high of $28.62.

In other SpringWorks Therapeutics news, Director Stephen P. Squinto acquired 275,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was purchased at an average price of $18.00 per share, with a total value of $4,950,000.00. Also, major shareholder Bain Capital Life Sciences Inv acquired 150,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was acquired at an average cost of $18.00 per share, with a total value of $2,700,000.00.

About SpringWorks Therapeutics

SpringWorks Therapeutics, Inc, a clinical-stage biopharmaceutical company, acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its advanced product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase 3 clinical trials for the treatment of desmoid tumors.

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