SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Short Interest Update

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) saw a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 9,110,000 shares, a decline of 36.7% from the January 31st total of 14,400,000 shares. Based on an average daily volume of 1,980,000 shares, the short-interest ratio is currently 4.6 days.

SpringWorks Therapeutics Stock Down 1.5 %

SWTX stock traded down $0.79 during trading on Wednesday, reaching $50.59. 3,366,903 shares of the company's stock were exchanged, compared to its average volume of 1,220,710. The firm has a market cap of $3.79 billion, a PE ratio of -14.54 and a beta of 0.76. The company's fifty day moving average price is $43.58 and its 200-day moving average price is $38.58. SpringWorks Therapeutics has a 1-year low of $28.21 and a 1-year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.38). The company had revenue of $61.55 million for 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%. As a group, sell-side analysts expect that SpringWorks Therapeutics will post -2.05 earnings per share for the current fiscal year.

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Insider Transactions at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, 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 transaction of $62,169.04. Following the sale, the insider now directly owns 62,053 shares of the company's stock, valued at approximately $3,797,023.07. This represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Lynch sold 47,600 shares of SpringWorks Therapeutics stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $60.22, for a total transaction of $2,866,472.00. Following the completion of the transaction, the director now directly owns 82,944 shares of the company's stock, valued at $4,994,887.68. This trade represents a 36.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 371,766 shares of company stock valued at $20,660,596. Insiders own 7.61% of the company's stock.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank lifted its stake in SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company's stock valued at $25,000 after purchasing an additional 192 shares during the last quarter. AlphaQuest LLC lifted its position in shares of SpringWorks Therapeutics by 70.2% during 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 last quarter. State of Wyoming lifted its position in shares of SpringWorks Therapeutics by 39.5% during the 4th quarter. State of Wyoming now owns 1,530 shares of the company's stock valued at $55,000 after acquiring an additional 433 shares during the last quarter. Barclays PLC boosted its stake in shares of SpringWorks Therapeutics by 0.3% during the 4th quarter. Barclays PLC now owns 156,123 shares of the company's stock worth $5,641,000 after acquiring an additional 447 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company's stock worth $87,000 after acquiring an additional 474 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on SWTX shares. HC Wainwright restated a "buy" rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Wedbush restated an "outperform" rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Guggenheim cut their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Finally, Evercore ISI boosted their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company 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.