SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Short Interest Down 36.7% in February

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was the recipient of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 9,110,000 shares, a decrease of 36.7% from the January 31st total of 14,400,000 shares. Based on an average daily trading volume, of 1,980,000 shares, the short-interest ratio is currently 4.6 days.

Insider Activity at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 29,750 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $54.36, for a total value of $1,617,210.00. Following the sale, the insider now owns 50,762 shares in the company, valued at approximately $2,759,422.32. This represents a 36.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bhavesh Ashar sold 1,016 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.19, for a total value of $62,169.04. Following the completion of the sale, the insider now owns 62,053 shares in the company, valued at approximately $3,797,023.07. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 371,766 shares of company stock worth $20,660,596 over the last quarter. Insiders own 7.61% of the company’s stock.

Hedge Funds Weigh In On SpringWorks Therapeutics

Hedge funds have recently modified their holdings of the business. Huntington National Bank grew its holdings in shares of SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after purchasing an additional 192 shares during the period. AlphaQuest LLC grew its holdings in shares of SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after purchasing an additional 414 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of SpringWorks Therapeutics during the 4th quarter worth $45,000. State of Wyoming grew its holdings in shares of SpringWorks Therapeutics by 39.5% during the 4th quarter. State of Wyoming now owns 1,530 shares of the company’s stock worth $55,000 after purchasing an additional 433 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new position in shares of SpringWorks Therapeutics during the 4th quarter worth $56,000.

SpringWorks Therapeutics Stock Down 7.8 %

Shares of SWTX opened at $53.28 on Tuesday. SpringWorks Therapeutics has a 52-week low of $28.21 and a 52-week high of $62.00. The company has a market capitalization of $3.99 billion, a PE ratio of -15.31 and a beta of 0.81. The stock has a fifty day simple moving average of $43.29 and a two-hundred day simple moving average of $38.47.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. As a group, equities analysts anticipate that SpringWorks Therapeutics will post -2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.