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

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

Analysts Set New Price Targets

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

Insider Buying and Selling at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 29,750 shares of the company’s stock in a transaction on Monday, February 10th. The shares were 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 owns 50,762 shares in the company, valued at $2,759,422.32. This represents a 36.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction 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 represents a 57.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 440,766 shares of company stock worth $24,402,956. Insiders own 7.61% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several hedge funds have recently bought and sold shares of SWTX. GSA Capital Partners LLP acquired a new stake in SpringWorks Therapeutics in the 3rd quarter valued at about $209,000. Commerce Bank acquired a new stake in SpringWorks Therapeutics in the 3rd quarter valued at about $207,000. Intech Investment Management LLC acquired a new stake in SpringWorks Therapeutics in the 3rd quarter valued at about $676,000. Massachusetts Financial Services Co. MA lifted its stake in SpringWorks Therapeutics by 20.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 643,192 shares of the company’s stock valued at $20,608,000 after purchasing an additional 108,109 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in SpringWorks Therapeutics by 13.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company’s stock valued at $19,295,000 after purchasing an additional 73,613 shares during the last quarter.

SpringWorks Therapeutics Trading Down 1.5 %

Shares of SpringWorks Therapeutics stock traded down $0.79 during trading hours on Friday, reaching $50.29. 824,672 shares of the company’s stock were exchanged, compared to its average volume of 1,258,450. The company has a 50 day moving average of $46.56 and a two-hundred day moving average of $39.42. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The stock has a market cap 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). 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 analyst estimates of $60.53 million. As a group, analysts expect 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.