SpringWorks Therapeutics Target of Unusually Large Options Trading (NASDAQ:SWTX)

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) was the target of unusually large options trading on Friday. Traders bought 12,381 call options on the stock. This represents an increase of 105% compared to the typical volume of 6,048 call options.

SpringWorks Therapeutics Price Performance

SWTX stock traded down $1.06 on Tuesday, reaching $47.45. 504,121 shares of the company traded hands, compared to its average volume of 1,271,468. The firm has a fifty day simple moving average of $46.93 and a 200-day simple moving average of $39.52. The company has a market cap of $3.56 billion, a P/E ratio of -13.66 and a beta of 0.76. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) 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). The firm had revenue of $61.55 million for the quarter, compared to analysts' expectations of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. On average, sell-side analysts forecast that SpringWorks Therapeutics will post -2.05 EPS for the current year.

Insider Buying and Selling

In related news, COO Badreddin Edris sold 30,000 shares of SpringWorks Therapeutics stock in a transaction on Monday, February 10th. The shares were sold at an average price of $53.13, for a total value of $1,593,900.00. Following the transaction, the chief operating officer now owns 189,712 shares in the company, valued at $10,079,398.56. This trade represents a 13.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bhavesh Ashar sold 1,016 shares of the company's stock in a transaction dated 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 owns 62,053 shares of the company's stock, valued at approximately $3,797,023.07. The trade was 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 ninety days. 7.61% of the stock is owned by corporate insiders.

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Hedge Funds Weigh In On SpringWorks Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in SpringWorks Therapeutics by 0.3% during the 3rd quarter. FMR LLC now owns 11,140,946 shares of the company's stock valued at $356,956,000 after purchasing an additional 28,555 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of SpringWorks Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock valued at $258,650,000 after buying an additional 445,593 shares during the last quarter. Boxer Capital Management LLC bought a new stake in SpringWorks Therapeutics in the 4th quarter worth about $123,620,000. Maverick Capital Ltd. raised its position in SpringWorks Therapeutics by 6.8% in the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company's stock worth $89,018,000 after buying an additional 177,824 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in SpringWorks Therapeutics by 24.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock valued at $86,402,000 after acquiring an additional 465,494 shares during the period.

Wall Street Analyst Weigh In

SWTX has been the topic of a number of analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. HC Wainwright reiterated a "buy" rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a report on Friday, February 21st. 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 report on Wednesday, January 8th. Finally, Evercore ISI boosted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus 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.