Short Interest in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Decreases By 36.7%

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was the target of a large decrease in short interest in February. As of February 15th, there was short interest totalling 9,110,000 shares, a decrease 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.

Wall Street Analyst Weigh In

SWTX has been the subject of a number of analyst reports. Evercore ISI lifted 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. Guggenheim lowered 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 objective on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Finally, Wedbush reaffirmed an “outperform” rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $73.20.

SpringWorks Therapeutics Stock Up 8.1 %

SpringWorks Therapeutics stock opened at $57.76 on Friday. The firm has a 50 day moving average price of $42.97 and a 200-day moving average price of $38.33. The company has a market capitalization of $4.33 billion, a P/E ratio of -16.60 and a beta of 0.81. SpringWorks Therapeutics has a twelve month low of $28.21 and a twelve month high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates 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%. Equities analysts expect that SpringWorks Therapeutics will post -2.05 EPS for the current fiscal year.

Insider Transactions at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total transaction of $839,400.00. Following the sale, the chief operating officer now owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. This trade represents a 8.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Saqib Islam sold 48,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.30, for a total value of $2,558,400.00. Following the sale, the chief executive officer now directly owns 1,002,502 shares in the company, valued at $53,433,356.60. The trade was a 4.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 391,766 shares of company stock valued at $21,499,996. Corporate insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

Hedge funds have recently made changes to their positions in the stock. Huntington National Bank raised its stake in shares of SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after acquiring an additional 192 shares during the last quarter. AlphaQuest LLC raised its stake in shares of SpringWorks Therapeutics by 70.2% during the fourth 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 bought a new position in shares of SpringWorks Therapeutics during the fourth quarter valued at about $45,000. State of Wyoming increased its position 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 valued at $55,000 after buying an additional 433 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new position in shares of SpringWorks Therapeutics during the fourth quarter valued at about $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.