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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) saw unusually large options trading on Thursday. Investors bought 13,068 call options on the company. This represents an increase of approximately 223% compared to the average daily volume of 4,050 call options.

SpringWorks Therapeutics Stock Down 2.2 %

SWTX traded down $1.11 during trading on Monday, hitting $48.44. The company's stock had a trading volume of 2,462,774 shares, compared to its average volume of 1,244,752. The firm's 50 day moving average price is $44.65 and its two-hundred day moving average price is $38.89. SpringWorks Therapeutics has a 12 month low of $28.21 and a 12 month high of $62.00. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of -13.92 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The business had revenue of $61.55 million during the quarter, compared to the consensus estimate of $60.53 million. On average, sell-side analysts forecast that SpringWorks Therapeutics will post -2.05 earnings per share for the current year.

Remove Ads

Wall Street Analyst Weigh In

A number of analysts have commented on SWTX shares. Evercore ISI raised their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. HC Wainwright restated a "buy" rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Guggenheim cut their target price 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. Finally, Wedbush restated an "outperform" rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $73.20.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, insider Bhavesh Ashar sold 1,016 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 62,053 shares in the company, valued at approximately $3,797,023.07. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saqib Islam sold 49,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 954,869 shares of the company's stock, valued at $51,792,094.56. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 440,766 shares of company stock worth $24,402,956. 7.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors have recently bought and sold shares of the business. Huntington National Bank increased 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 valued at $25,000 after buying an additional 192 shares during the period. AlphaQuest LLC increased its stake in shares of 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 buying an additional 414 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at $45,000. State of Wyoming increased its stake in shares of 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 buying an additional 433 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth $56,000.

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.