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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) saw unusually large options trading activity on Friday. Traders acquired 12,381 call options on the stock. This represents an increase of 105% compared to the average daily volume of 6,048 call options.

Insider Transactions at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, Director Daniel Lynch sold 175,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $7,131,210.24. This trade represents a 57.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bhavesh Ashar sold 1,016 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $61.19, for a total value of $62,169.04. Following the completion of the transaction, the insider now owns 62,053 shares in the company, valued at approximately $3,797,023.07. This represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 440,766 shares of company stock worth $24,402,956 over the last three months. 7.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Several institutional investors have recently bought and sold shares of SWTX. Huntington National Bank raised its stake in shares of SpringWorks Therapeutics by 38.2% in the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after buying an additional 192 shares during the period. AlphaQuest LLC raised 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 acquiring an additional 414 shares during the period. State of Wyoming lifted its holdings in SpringWorks Therapeutics by 39.5% during the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after purchasing an additional 433 shares during the last quarter. Barclays PLC boosted its position in 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 purchasing an additional 447 shares during the period. Finally, Virtus ETF Advisers LLC increased its stake in shares of SpringWorks Therapeutics by 7.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 9,037 shares of the company’s stock worth $327,000 after purchasing an additional 622 shares in the last quarter.

SpringWorks Therapeutics Trading Down 2.3 %

Shares of SpringWorks Therapeutics stock opened at $49.89 on Friday. The firm has a market capitalization of $3.74 billion, a P/E ratio of -14.34 and a beta of 0.76. The business’s fifty day simple moving average is $46.70 and its 200 day simple moving average is $39.47. SpringWorks Therapeutics has a 12 month low of $28.21 and a 12 month high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced 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 return on equity of 46.74% and a negative net margin of 134.73%. The company had revenue of $61.55 million during the quarter, compared to the consensus estimate of $60.53 million. Analysts predict that SpringWorks Therapeutics will post -2.05 EPS for the current fiscal year.

Analysts Set New Price Targets

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