SpringWorks Therapeutics Sees Unusually High Options Volume (NASDAQ:SWTX)

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was the recipient of some unusual options trading activity on Thursday. Investors acquired 13,068 call options on the company. This is an increase of approximately 223% compared to the typical daily volume of 4,050 call options.

Insider Activity

In other news, Director Daniel Lynch sold 175,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the sale, the director now owns 130,944 shares in the company, valued at approximately $7,131,210.24. The trade was a 57.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel Pichl sold 29,750 shares of the stock in a transaction dated Monday, February 10th. The stock was 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 approximately $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. In the last 90 days, insiders have sold 440,766 shares of company stock valued at $24,402,956. Corporate insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

Several hedge funds have recently made changes to their positions in SWTX. FMR LLC increased its stake in SpringWorks Therapeutics by 0.3% during the third quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after acquiring an additional 28,555 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of SpringWorks Therapeutics by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock worth $258,650,000 after purchasing an additional 445,593 shares during the period. Boxer Capital Management LLC purchased a new position in shares of SpringWorks Therapeutics in the 4th quarter worth approximately $123,620,000. Maverick Capital Ltd. increased its position in shares of SpringWorks Therapeutics by 6.8% during the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock valued at $89,018,000 after purchasing an additional 177,824 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in SpringWorks Therapeutics by 24.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock valued at $86,402,000 after buying an additional 465,494 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SWTX. Evercore ISI raised their target price 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. Guggenheim dropped their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Wedbush reissued an “outperform” rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $73.20.

SpringWorks Therapeutics Stock Up 1.4 %

Shares of SWTX opened at $51.32 on Friday. The business has a 50-day simple moving average of $44.14 and a two-hundred day simple moving average of $38.75. SpringWorks Therapeutics has a 52 week low of $28.21 and a 52 week high of $62.00. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of -14.75 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly 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). The business had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $60.53 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. On average, equities analysts anticipate that SpringWorks Therapeutics will post -2.05 earnings per share for the current fiscal year.

About SpringWorks Therapeutics

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.