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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was the target of a large decline in short interest in February. As of February 15th, there was short interest totalling 9,110,000 shares, a decline of 36.7% from the January 31st total of 14,400,000 shares. Based on an average daily volume of 1,980,000 shares, the days-to-cover ratio is currently 4.6 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SWTX. HC Wainwright reaffirmed a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Guggenheim cut their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Evercore ISI lifted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics has a consensus rating of “Buy” and an average price target of $73.20.

Insiders Place Their Bets

In other news, CEO Saqib Islam sold 48,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the sale, the chief executive officer now directly owns 1,002,502 shares of the company’s stock, valued at approximately $53,433,356.60. This represents a 4.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bhavesh Ashar sold 1,016 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.19, for a total value of $62,169.04. Following the completion of the transaction, the insider now directly owns 62,053 shares of the company’s stock, valued at approximately $3,797,023.07. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 391,766 shares of company stock worth $21,499,996 in the last quarter. 7.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SWTX. Alpha DNA Investment Management LLC acquired a new position in SpringWorks Therapeutics in the 3rd quarter valued at approximately $411,000. Principal Financial Group Inc. increased its holdings in SpringWorks Therapeutics by 20.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock valued at $39,882,000 after purchasing an additional 185,413 shares during the period. Los Angeles Capital Management LLC increased its holdings in SpringWorks Therapeutics by 30.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company’s stock valued at $2,231,000 after purchasing an additional 14,548 shares during the period. Ally Bridge Group NY LLC bought a new position in SpringWorks Therapeutics during the 3rd quarter worth $7,296,000. Finally, AMI Asset Management Corp acquired a new position in SpringWorks Therapeutics during the 4th quarter worth about $1,438,000.

SpringWorks Therapeutics Trading Down 7.8 %

NASDAQ:SWTX traded down $4.48 on Monday, hitting $53.28. The company had a trading volume of 2,849,938 shares, compared to its average volume of 2,712,348. The firm has a 50 day moving average of $43.29 and a two-hundred day moving average of $38.47. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -15.31 and a beta of 0.81. SpringWorks Therapeutics has a 52 week low of $28.21 and a 52 week high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share 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 firm had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. As a group, equities analysts forecast that SpringWorks Therapeutics will post -2.05 EPS for the current year.

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.