SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Short Interest Down 22.0% in February

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was the recipient of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 7,110,000 shares, a decline 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 volume of 2,210,000 shares, the days-to-cover ratio is presently 3.2 days.

SpringWorks Therapeutics Stock Up 2.8 %

SWTX opened at $51.14 on Monday. SpringWorks Therapeutics has a twelve month low of $28.21 and a twelve month high of $62.00. The company has a 50-day simple moving average of $45.77 and a 200 day simple moving average of $39.15. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -14.70 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate 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. Sell-side analysts anticipate that SpringWorks Therapeutics will post -2.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, insider Bhavesh Ashar sold 1,016 shares of SpringWorks Therapeutics stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total transaction 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 $3,797,023.07. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Pichl sold 29,750 shares of SpringWorks Therapeutics stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the transaction, the insider now directly owns 50,762 shares of the company’s stock, valued at approximately $2,759,422.32. This trade represents a 36.95 % 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 currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Huntington National Bank raised its stake in SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after acquiring an additional 192 shares in the last quarter. AlphaQuest LLC raised its stake in SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after acquiring an additional 414 shares in the last quarter. State of Wyoming raised its stake in SpringWorks Therapeutics by 39.5% during the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock worth $55,000 after acquiring an additional 433 shares in the last quarter. Barclays PLC raised its stake in SpringWorks Therapeutics by 0.3% during the fourth quarter. Barclays PLC now owns 156,123 shares of the company’s stock worth $5,641,000 after acquiring an additional 447 shares in the last quarter. Finally, Virtus ETF Advisers LLC raised its stake in SpringWorks Therapeutics by 7.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 9,037 shares of the company’s stock worth $327,000 after acquiring an additional 622 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Guggenheim reduced 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. 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. 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. Finally, HC Wainwright reissued a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $73.20.

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.