SpringWorks Therapeutics Target of Unusually Large Options Trading (NASDAQ:SWTX)

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was the recipient of unusually large options trading activity on Friday. Traders acquired 12,381 call options on the company. This represents an increase of 105% compared to the average volume of 6,048 call options.

Analyst Ratings Changes

A number of research firms have recently issued reports on SWTX. Wedbush reissued an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. HC Wainwright reissued a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Guggenheim reduced their price target on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Evercore ISI boosted their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics currently has a consensus rating of “Buy” and an average target price of $73.20.

SpringWorks Therapeutics Stock Down 2.3 %

Shares of SWTX opened at $49.89 on Friday. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The firm’s 50 day moving average price is $46.70 and its 200 day moving average price is $39.48. The company has a market cap of $3.74 billion, a P/E ratio of -14.34 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The business had revenue of $61.55 million for the quarter, compared to analysts’ expectations of $60.53 million. Research analysts forecast that SpringWorks Therapeutics will post -2.05 earnings per share for the current year.

Insider Buying and Selling

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $54.23, for a total value of $1,084,600.00. Following the transaction, the chief operating officer now directly owns 169,712 shares in the company, valued at $9,203,481.76. The trade was a 10.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel Pichl sold 29,750 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the completion of the transaction, the insider now owns 50,762 shares in the company, valued at $2,759,422.32. The trade was a 36.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 440,766 shares of company stock worth $24,402,956. 7.61% of the stock is owned by insiders.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several large investors have recently added to or reduced their stakes in SWTX. Huntington National Bank increased its position in shares of SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after purchasing an additional 192 shares during the last quarter. AlphaQuest LLC increased its position in shares of SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after purchasing an additional 414 shares during the last quarter. State of Wyoming increased its position in shares of SpringWorks Therapeutics by 39.5% in the 4th quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after purchasing an additional 433 shares during the last quarter. Barclays PLC increased its position in shares of SpringWorks Therapeutics by 0.3% in the 4th quarter. Barclays PLC now owns 156,123 shares of the company’s stock valued at $5,641,000 after purchasing an additional 447 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its position in shares of SpringWorks Therapeutics by 7.4% in the 4th quarter. Virtus ETF Advisers LLC now owns 9,037 shares of the company’s stock valued at $327,000 after purchasing an additional 622 shares during the last quarter.

SpringWorks Therapeutics Company Profile

SpringWorks Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is OGSIVEO (nirogacestat), an oral small molecule gamma secretase inhibitor that is in Phase III DeFi trial for the treatment of desmoid tumors; and Nirogacestat, is also in Phase 2 clinical development as a monotherapy for the treatment of ovarian granulosa cell tumors (GCT), a subtype of ovarian cancer.