Traders Purchase High Volume of Call Options on SpringWorks Therapeutics (NASDAQ:SWTX)

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was the target of some unusual options trading on Friday. Stock investors purchased 12,381 call options on the stock. This represents an increase of 105% compared to the typical volume of 6,048 call options.

Analysts Set New Price Targets

A number of analysts have recently commented on SWTX shares. Evercore ISI boosted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Guggenheim dropped their target price 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 reaffirmed an “outperform” rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $74.00 price objective 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 MarketBeat, the company has a consensus rating of “Buy” and an average target price of $73.20.

SpringWorks Therapeutics Stock Performance

NASDAQ:SWTX opened at $49.89 on Friday. The stock’s 50-day simple moving average is $46.70 and its 200 day simple moving average is $39.47. SpringWorks Therapeutics has a 52-week low of $28.21 and a 52-week high of $62.00. 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 issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) 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 the consensus estimate of $60.53 million. As a group, equities analysts predict that SpringWorks Therapeutics will post -2.05 earnings per share for the current fiscal year.

Insider Activity at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 30,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the sale, the chief operating officer now directly owns 189,712 shares in the company, valued at $10,079,398.56. This trade represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Saqib Islam sold 48,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,002,502 shares in the company, valued at $53,433,356.60. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 440,766 shares of company stock worth $24,402,956. 7.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SWTX. California State Teachers Retirement System increased its holdings in SpringWorks Therapeutics by 5.0% in the 4th quarter. California State Teachers Retirement System now owns 56,220 shares of the company’s stock worth $2,031,000 after purchasing an additional 2,699 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth about $56,000. Palisades Investment Partners LLC increased its stake in shares of SpringWorks Therapeutics by 9.9% in the fourth quarter. Palisades Investment Partners LLC now owns 134,445 shares of the company’s stock valued at $4,857,000 after buying an additional 12,154 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in SpringWorks Therapeutics by 19.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,052 shares of the company’s stock valued at $4,301,000 after buying an additional 19,315 shares during the last quarter. Finally, Woodline Partners LP boosted its position in SpringWorks Therapeutics by 7.9% during the 4th quarter. Woodline Partners LP now owns 1,490,136 shares of the company’s stock worth $53,839,000 after buying an additional 108,512 shares during the period.

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.