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

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Evercore ISI upped their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Guggenheim reduced their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $73.20.

SpringWorks Therapeutics Stock Performance

SpringWorks Therapeutics stock opened at $51.14 on Monday. 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 has a 52-week low of $28.21 and a 52-week high of $62.00. The stock’s 50 day moving average price is $45.77 and its two-hundred day moving average price is $39.15.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results 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 business had revenue of $61.55 million for the quarter, compared to the consensus estimate 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, equities research analysts forecast that SpringWorks Therapeutics will post -2.05 EPS for the current year.

Insider Activity

In other news, COO Badreddin Edris sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.13, for a total value of $1,593,900.00. Following the completion of the transaction, the chief operating officer now owns 189,712 shares of the company’s stock, valued at $10,079,398.56. This represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel Pichl sold 29,750 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 50,762 shares of the company’s stock, valued at $2,759,422.32. This represents a 36.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 440,766 shares of company stock valued at $24,402,956 over the last quarter. 7.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Large investors have recently modified their holdings of the company. Los Angeles Capital Management LLC lifted its holdings in shares of SpringWorks Therapeutics by 30.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company’s stock worth $2,231,000 after purchasing an additional 14,548 shares in the last quarter. Alpha DNA Investment Management LLC bought a new position in shares of SpringWorks Therapeutics in the 3rd quarter worth $411,000. Principal Financial Group Inc. lifted its holdings in shares of SpringWorks Therapeutics by 20.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock worth $39,882,000 after purchasing an additional 185,413 shares in the last quarter. Ally Bridge Group NY LLC bought a new position in shares of SpringWorks Therapeutics in the 3rd quarter worth $7,296,000. Finally, AMI Asset Management Corp bought a new position in shares of SpringWorks Therapeutics in the 4th quarter worth $1,438,000.

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.