SpringWorks Therapeutics Sees Unusually High Options Volume (NASDAQ:SWTX)

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 15,178 call options on the company. This represents an increase of 78% compared to the typical daily volume of 8,532 call options.

SpringWorks Therapeutics Trading Up 0.4 %

SWTX stock traded up $0.15 on Friday, hitting $37.89. The company's stock had a trading volume of 1,452,576 shares, compared to its average volume of 1,391,633. SpringWorks Therapeutics has a 1 year low of $28.21 and a 1 year high of $62.00. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -10.89 and a beta of 0.79. The firm has a 50 day moving average of $47.81 and a two-hundred day moving average of $40.23.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced 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). The business had revenue of $61.55 million for the quarter, compared to analyst estimates 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, equities analysts forecast that SpringWorks Therapeutics will post -2.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Daniel Lynch sold 175,000 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Saqib Islam sold 49,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $54.24, for a total value of $2,657,760.00. Following the sale, the chief executive officer now directly owns 954,869 shares in the company, valued at $51,792,094.56. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 440,766 shares of company stock worth $24,402,956. Company insiders own 7.83% of the company's stock.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank lifted 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 worth $25,000 after acquiring an additional 192 shares during the period. AlphaQuest LLC raised its holdings in SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock worth $36,000 after purchasing an additional 414 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in SpringWorks Therapeutics in the fourth quarter valued at about $45,000. State of Wyoming boosted its holdings in SpringWorks Therapeutics by 39.5% in the 4th quarter. State of Wyoming now owns 1,530 shares of the company's stock valued at $55,000 after purchasing an additional 433 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in SpringWorks Therapeutics during the 4th quarter worth approximately $56,000.

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.