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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 7,110,000 shares, a drop of 22.0% from the February 13th total of 9,110,000 shares. Approximately 10.3% of the shares of the company are sold short. Based on an average daily trading volume, of 2,210,000 shares, the days-to-cover ratio is presently 3.2 days.

Analyst Ratings Changes

Several brokerages have recently commented on SWTX. Evercore ISI boosted their target price 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 dropped their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Wedbush restated an “outperform” rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Finally, HC Wainwright restated a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $73.20.

SpringWorks Therapeutics Price Performance

SWTX stock traded down $0.38 during trading on Tuesday, reaching $49.46. 397,107 shares of the company were exchanged, compared to its average volume of 1,252,987. The company has a 50-day moving average of $45.99 and a two-hundred day moving average of $39.21. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of -14.20 and a beta of 0.76. 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 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). The company had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. On average, analysts forecast that SpringWorks Therapeutics will post -2.05 EPS for the current year.

Insider Transactions at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 29,750 shares of the business’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 completion of the sale, the insider now owns 50,762 shares of the company’s stock, valued at $2,759,422.32. The trade was a 36.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Saqib Islam sold 49,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the completion of the sale, the chief executive officer now directly owns 954,869 shares of the company’s stock, valued at $51,792,094.56. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 440,766 shares of company stock worth $24,402,956. 7.61% of the stock is owned by insiders.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new stake in SpringWorks Therapeutics during the 4th quarter worth approximately $56,000. Palisades Investment Partners LLC grew its holdings in SpringWorks Therapeutics by 9.9% during the 4th quarter. Palisades Investment Partners LLC now owns 134,445 shares of the company’s stock worth $4,857,000 after acquiring an additional 12,154 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in SpringWorks Therapeutics by 19.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,052 shares of the company’s stock worth $4,301,000 after acquiring an additional 19,315 shares during the last quarter. Woodline Partners LP grew its holdings in SpringWorks Therapeutics by 7.9% during the 4th quarter. Woodline Partners LP now owns 1,490,136 shares of the company’s stock worth $53,839,000 after acquiring an additional 108,512 shares during the last quarter. Finally, Zimmer Partners LP bought a new stake in SpringWorks Therapeutics during the 4th quarter worth approximately $5,141,000.

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.