Stock Traders Purchase Large Volume of SpringWorks Therapeutics Call Options (NASDAQ:SWTX)

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was the recipient of some unusual options trading on Monday. Stock investors bought 5,756 call options on the stock. This is an increase of 721% compared to the average daily volume of 701 call options.

Insider Activity at SpringWorks Therapeutics

In other news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following the transaction, the chief operating officer now directly owns 209,600 shares in the company, valued at $8,796,912. The trade was a 8.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. AlphaQuest LLC raised its position in shares of SpringWorks Therapeutics by 70.2% in the fourth 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 period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after acquiring an additional 474 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of SpringWorks Therapeutics by 1.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock worth $1,486,000 after acquiring an additional 871 shares during the period. KBC Group NV grew its position in shares of SpringWorks Therapeutics by 59.1% in the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock valued at $95,000 after purchasing an additional 978 shares in the last quarter. Finally, Quarry LP raised its stake in shares of SpringWorks Therapeutics by 20.0% during the 3rd quarter. Quarry LP now owns 6,000 shares of the company’s stock valued at $192,000 after purchasing an additional 1,000 shares during the period.

SpringWorks Therapeutics Price Performance

NASDAQ:SWTX opened at $54.00 on Tuesday. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $60.00. The company has a market cap of $4.02 billion, a PE ratio of -13.92 and a beta of 0.81. The firm has a 50-day moving average of $37.86 and a 200-day moving average of $36.16.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.03. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The company had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. During the same quarter last year, the company earned ($1.27) earnings per share. The company’s revenue for the quarter was up 4810.0% on a year-over-year basis. On average, equities research analysts expect that SpringWorks Therapeutics will post -3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SWTX has been the topic of several research analyst reports. Wedbush reissued an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday. Evercore ISI began coverage on shares of SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price target for the company. Guggenheim decreased their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, HC Wainwright decreased their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $70.00.

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.