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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was the target of unusually large options trading activity on Wednesday. Investors bought 15,178 call options on the stock. This is an increase of approximately 78% compared to the average daily volume of 8,532 call options.

Insider Buying and Selling

In related news, insider Daniel Pichl sold 29,750 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 50,762 shares in the company, valued at $2,759,422.32. The trade was a 36.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Lynch sold 175,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.46, for a total value of $9,530,500.00. Following the completion of the transaction, the director now directly owns 130,944 shares in the company, valued at approximately $7,131,210.24. This represents a 57.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 440,766 shares of company stock valued at $24,402,956. Company insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Huntington National Bank boosted its stake in shares of SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after purchasing an additional 192 shares in the last quarter. AlphaQuest LLC lifted its stake in SpringWorks Therapeutics by 70.2% in the 4th 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 last quarter. State of Wyoming boosted its position in SpringWorks Therapeutics by 39.5% in the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after buying an additional 433 shares in the last quarter. Barclays PLC grew its stake in shares of 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 buying an additional 447 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its holdings in shares of 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 buying an additional 622 shares in the last quarter.

SpringWorks Therapeutics Trading Up 0.4 %

Shares of SpringWorks Therapeutics stock opened at $37.89 on Friday. The company has a 50 day moving average of $48.16 and a 200-day moving average of $40.14. The company has a market cap of $2.84 billion, a PE ratio of -10.89 and a beta of 0.79. SpringWorks Therapeutics has a 1-year low of $28.21 and a 1-year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. Research analysts forecast that SpringWorks Therapeutics will post -2.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.