1,130,537 Summit Therapeutics PLC $SMMT Shares Bought by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its Summit Therapeutics stake by 212.3% in the third quarter, buying 1,130,537 shares and ending the period with 1,662,969 shares valued at about $28.2 million.
• Several other institutional investors opened positions in Summit during the second quarter, including BlackRock, which acquired shares valued at approximately $138.8 million. Institutional investors and hedge funds collectively owned 4.61% of the company.
• Analyst views are mixed but lean positive: MarketBeat reported a “Moderate Buy” consensus and an average price target of $28.61. Summit shares opened at $16.33, within a 12-month range of $12.07 to $29.23.

Candriam S.C.A. grew its stake in Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) by 212.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,662,969 shares of the company's stock after purchasing an additional 1,130,537 shares during the period. Candriam S.C.A. owned about 0.21% of Summit Therapeutics worth $28,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of Summit Therapeutics during the 2nd quarter valued at approximately $6,284,000. BlackRock Inc. acquired a new position in shares of Summit Therapeutics in the 2nd quarter valued at $138,838,000. Public Employees Retirement System of Ohio purchased a new stake in Summit Therapeutics during the second quarter worth $561,000. Bank of America Corp DE purchased a new stake in Summit Therapeutics during the second quarter worth $12,603,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Summit Therapeutics during the second quarter worth $4,342,000. Institutional investors and hedge funds own 4.61% of the company's stock.

Summit Therapeutics Price Performance

Summit Therapeutics stock opened at $16.33 on Monday. The stock has a market capitalization of $13.06 billion, a PE ratio of -15.26 and a beta of -1.49. The business has a 50 day simple moving average of $16.25 and a 200-day simple moving average of $16.15. Summit Therapeutics PLC has a 12 month low of $12.07 and a 12 month high of $29.23.

Summit Therapeutics News Summary

Here are the key news stories impacting Summit Therapeutics this week:

• Positive Sentiment: HC Wainwright maintained its Buy rating and raised its earnings estimates across several periods, forecasting narrower losses for FY2026 (a loss of $1.04 per share versus $1.06 previously) and FY2027 (a loss of $0.98 versus $1.05). Its quarterly estimates were also generally revised toward smaller losses. These are forecasts, not reported results. Summit Therapeutics analyst estimate report
• Positive Sentiment: A separate report grouped Summit among healthcare stocks analysts are bullish on, reinforcing the favorable analyst tone. Analysts Are Bullish on These Healthcare Stocks
• Neutral Sentiment: Another article notes SMMT moved above its 200-day moving average, a potentially constructive technical signal, but its headline raises the question of selling and provides no clear investment recommendation. Summit Therapeutics stock breaks above 200-day moving average

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Summit Therapeutics in a report on Thursday, October 15th. Summit Redstone set a $25.00 price objective on shares of Summit Therapeutics in a research report on Wednesday, September 9th. UBS Group reissued a "neutral" rating on shares of Summit Therapeutics in a research note on Wednesday, September 23rd. Sanford C. Bernstein reissued a "market perform" rating on shares of Summit Therapeutics in a research note on Monday, October 5th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Summit Therapeutics in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $28.61.

Summit Therapeutics Profile

Summit Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. Its lead candidate is ivonescimab, a bispecific antibody designed to target both PD-1 and VEGF, two pathways involved in tumor growth and the immune response. The company is evaluating the treatment in clinical trials for multiple types of cancer.

Summit licensed rights to develop and commercialize ivonescimab from China-based Akeso in 2022. Summit's licensed territory covers markets outside China, including the United States, Canada, Europe and Japan.

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