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

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. HC Wainwright reiterated a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Evercore ISI increased their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Guggenheim reduced their price target 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, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $73.20.

SpringWorks Therapeutics Stock Down 1.5 %

Shares of NASDAQ:SWTX traded down $0.79 on Friday, reaching $50.29. The company had a trading volume of 824,672 shares, compared to its average volume of 1,258,450. SpringWorks Therapeutics has a twelve month low of $28.21 and a twelve month high of $62.00. The stock has a 50-day moving average price of $46.56 and a 200 day moving average price of $39.42. The stock has a market capitalization of $3.77 billion, a P/E ratio of -14.46 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) 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 the consensus estimate 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, sell-side analysts predict that SpringWorks Therapeutics will post -2.05 earnings per share for the current fiscal year.

Insider Transactions at SpringWorks Therapeutics

In other news, Director Daniel Lynch sold 175,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00. Following the completion of the sale, the director now owns 130,944 shares in the company, valued at $7,131,210.24. This represents a 57.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bhavesh Ashar sold 1,016 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total value of $62,169.04. Following the completion of the sale, the insider now owns 62,053 shares of the company’s stock, valued at $3,797,023.07. The trade was a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 440,766 shares of company stock valued at $24,402,956 in the last three months. 7.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC increased its stake in shares of SpringWorks Therapeutics by 30.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company’s stock worth $2,231,000 after purchasing an additional 14,548 shares during the period. Alpha DNA Investment Management LLC bought a new position in shares of SpringWorks Therapeutics in the third quarter worth about $411,000. Principal Financial Group Inc. increased its stake in SpringWorks Therapeutics by 20.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock valued at $39,882,000 after acquiring an additional 185,413 shares during the period. Ally Bridge Group NY LLC bought a new position in SpringWorks Therapeutics during the third quarter valued at about $7,296,000. Finally, AMI Asset Management Corp bought a new position in SpringWorks Therapeutics during the fourth quarter valued at about $1,438,000.

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.