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

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

Insider Transactions at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 29,750 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $2,759,422.32. This trade represents a 36.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel Lynch sold 175,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the transaction, the director now directly owns 130,944 shares of the company’s stock, valued at approximately $7,131,210.24. This trade represents a 57.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 440,766 shares of company stock worth $24,402,956. Company insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

Institutional investors have recently modified their holdings of the stock. Huntington National Bank boosted its position in SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after acquiring an additional 192 shares during the last quarter. AlphaQuest LLC boosted its position in SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after acquiring an additional 414 shares during the last quarter. State of Wyoming boosted its position in SpringWorks Therapeutics by 39.5% during the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock worth $55,000 after acquiring an additional 433 shares during the last quarter. Barclays PLC boosted its position in SpringWorks Therapeutics by 0.3% during the fourth quarter. Barclays PLC now owns 156,123 shares of the company’s stock worth $5,641,000 after acquiring an additional 447 shares during the last quarter. Finally, Virtus ETF Advisers LLC boosted its position in SpringWorks Therapeutics by 7.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 9,037 shares of the company’s stock worth $327,000 after acquiring an additional 622 shares during the last quarter.

Analyst Ratings Changes

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

SpringWorks Therapeutics Stock Performance

SWTX opened at $49.89 on Friday. The company has a fifty day moving average of $46.70 and a two-hundred day moving average of $39.48. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The stock has a market capitalization of $3.74 billion, a price-to-earnings 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 (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The company had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. On average, equities research analysts forecast that SpringWorks Therapeutics will post -2.05 earnings per share for the current year.

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.