SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Short Interest Update

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was the recipient of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 9,110,000 shares, a drop of 36.7% from the January 31st total of 14,400,000 shares. Based on an average daily trading volume, of 1,980,000 shares, the short-interest ratio is presently 4.6 days.

SpringWorks Therapeutics Stock Down 7.8 %

Shares of NASDAQ:SWTX traded down $4.48 during midday trading on Monday, reaching $53.28. The company had a trading volume of 2,849,938 shares, compared to its average volume of 2,712,348. The business’s 50 day moving average price is $43.29 and its 200 day moving average price is $38.47. SpringWorks Therapeutics has a 1-year low of $28.21 and a 1-year high of $62.00. The stock has a market cap of $3.99 billion, a PE ratio of -15.31 and a beta of 0.81.

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

Insiders Place Their Bets

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 29,328 shares of SpringWorks Therapeutics stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $60.30, for a total transaction of $1,768,478.40. Following the transaction, the chief executive officer now directly owns 1,034,625 shares in the company, valued at approximately $62,387,887.50. The trade was a 2.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Badreddin Edris sold 20,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the sale, the chief operating officer now owns 209,600 shares of the company’s stock, valued at $8,796,912. This trade represents a 8.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 391,766 shares of company stock worth $21,499,996. Insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

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

Wall Street Analysts Forecast Growth

SWTX has been the subject of several research analyst reports. Guggenheim reduced their price target 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. HC Wainwright reissued a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Evercore ISI upped 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. Finally, Wedbush reissued an “outperform” rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics presently has an average rating of “Buy” and a consensus target price 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.