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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was the recipient of some unusual options trading activity on Monday. Investors purchased 5,756 call options on the stock. This is an increase of 721% compared to the average daily volume of 701 call options.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SWTX shares. Wedbush reiterated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday, January 13th. Evercore ISI assumed coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price target on the stock. Guggenheim dropped their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, HC Wainwright lowered their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics has an average rating of “Buy” and an average price target of $70.00.

SpringWorks Therapeutics Trading Up 34.8 %

Shares of SWTX stock traded up $14.00 on Monday, reaching $54.28. The company had a trading volume of 6,639,044 shares, compared to its average volume of 1,917,997. The stock has a market cap of $4.04 billion, a PE ratio of -14.02 and a beta of 0.81. The company has a 50-day moving average of $37.86 and a 200-day moving average of $36.16. SpringWorks Therapeutics has a 12 month low of $28.21 and a 12 month high of $55.99.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The firm had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. During the same quarter in the prior year, the firm earned ($1.27) earnings per share. The business’s quarterly revenue was up 4810.0% on a year-over-year basis. Sell-side analysts anticipate that SpringWorks Therapeutics will post -3.03 earnings per share for the current year.

Insider Activity at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the transaction, the chief operating officer now owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. The trade was a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank raised its position in shares of SpringWorks Therapeutics by 7.4% during the fourth quarter. Swiss National Bank now owns 116,800 shares of the company’s stock worth $4,220,000 after purchasing an additional 8,000 shares during the period. AlphaQuest LLC raised its holdings in SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after buying an additional 414 shares during the period. Raymond James Financial Inc. bought a new position in SpringWorks Therapeutics in the fourth quarter valued at approximately $10,527,000. Arizona State Retirement System boosted its holdings in shares of SpringWorks Therapeutics by 7.5% in the fourth quarter. Arizona State Retirement System now owns 17,206 shares of the company’s stock valued at $622,000 after buying an additional 1,206 shares during the period. Finally, M&T Bank Corp increased its position in shares of SpringWorks Therapeutics by 16.0% during the fourth quarter. M&T Bank Corp now owns 20,155 shares of the company’s stock worth $728,000 after acquiring an additional 2,774 shares in the last quarter.

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.