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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) was the target of some unusual options trading on Wednesday. Traders purchased 15,178 call options on the company. This represents an increase of approximately 78% compared to the average daily volume of 8,532 call options.

SpringWorks Therapeutics Price Performance

Shares of SWTX stock traded down $0.86 during trading hours on Monday, reaching $37.06. The stock had a trading volume of 1,189,490 shares, compared to its average volume of 1,390,837. SpringWorks Therapeutics has a twelve month low of $28.21 and a twelve month high of $62.00. The firm has a market capitalization of $2.78 billion, a PE ratio of -10.65 and a beta of 0.79. The firm has a 50-day simple moving average of $47.81 and a 200-day simple moving average of $40.29.

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). 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 for the quarter, compared to the consensus estimate of $60.53 million. On average, equities analysts anticipate that SpringWorks Therapeutics will post -2.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Evercore ISI increased 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. HC Wainwright reiterated a "buy" rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Guggenheim decreased their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, Wedbush restated an "outperform" rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $73.20.

Insider Activity

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 49,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $54.24, for a total value of $2,657,760.00. Following the transaction, the chief executive officer now owns 954,869 shares in the company, valued at $51,792,094.56. The trade was a 4.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Pichl sold 29,750 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.36, for a total value of $1,617,210.00. Following the sale, the insider now owns 50,762 shares of the company's stock, valued at $2,759,422.32. This represents a 36.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 440,766 shares of company stock worth $24,402,956. 7.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

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