Stock Traders Purchase High Volume of Call Options on SpringWorks Therapeutics (NASDAQ:SWTX)

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was the recipient of unusually large options trading on Thursday. Stock investors bought 13,068 call options on the stock. This is an increase of 223% compared to the typical volume of 4,050 call options.

SpringWorks Therapeutics Stock Up 2.6 %

SWTX stock traded up $1.30 during trading on Thursday, hitting $51.89. The company had a trading volume of 2,779,343 shares, compared to its average volume of 1,228,687. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -14.97 and a beta of 0.76. The firm has a 50-day moving average price of $43.86 and a 200-day moving average price of $38.66. SpringWorks Therapeutics has a 12 month low of $28.21 and a 12 month high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results 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). The firm had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. Equities analysts expect that SpringWorks Therapeutics will post -2.05 EPS for the current year.

Analyst Upgrades and Downgrades

SWTX has been the topic of several recent analyst reports. Guggenheim decreased their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Wedbush restated an “outperform” rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. 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. Finally, Evercore ISI boosted their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $73.20.

Insider Buying and Selling

In related news, CEO Saqib Islam sold 48,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $53.30, for a total value of $2,558,400.00. Following the completion of the transaction, the chief executive officer now owns 1,002,502 shares of the company’s stock, valued at $53,433,356.60. This represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Badreddin Edris sold 30,000 shares of SpringWorks Therapeutics stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 189,712 shares in the company, valued at $10,079,398.56. The trade was a 13.65 % 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 valued at $24,402,956 over the last ninety days. 7.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SWTX. Huntington National Bank lifted its holdings in SpringWorks Therapeutics by 38.2% in the fourth 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 raised its position in shares of SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after acquiring an additional 414 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of SpringWorks Therapeutics in the 4th quarter valued at $45,000. State of Wyoming boosted its position 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 worth $55,000 after purchasing an additional 433 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of SpringWorks Therapeutics in the 4th 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.