347,241 Shares in Summit Therapeutics PLC $SMMT Acquired by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL disclosed a new stake in Summit Therapeutics of 347,241 shares during the 3rd quarter, valued at approximately $7.17 million per its latest 13F filing.
• Analysts hold a consensus rating of "Moderate Buy" with a $29.83 target amid mixed coverage (1 Strong Buy, 8 Buy, 5 Hold, 2 Sell); Summit reported a quarterly EPS loss of $0.29 (miss) and the stock trades around $15.60 with a 52-week high of $36.91.

Tudor Investment Corp ET AL acquired a new stake in Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 347,241 shares of the company's stock, valued at approximately $7,174,000.

A number of other institutional investors have also recently bought and sold shares of SMMT. Vanguard Group Inc. lifted its stake in shares of Summit Therapeutics by 31.2% in the 3rd quarter. Vanguard Group Inc. now owns 11,379,728 shares of the company's stock valued at $235,105,000 after purchasing an additional 2,706,056 shares during the period. Norges Bank acquired a new stake in shares of Summit Therapeutics during the second quarter worth $29,576,000. APEIRON CAPITAL Ltd increased its holdings in Summit Therapeutics by 9.2% in the third quarter. APEIRON CAPITAL Ltd now owns 1,310,941 shares of the company's stock valued at $27,084,000 after purchasing an additional 110,000 shares during the last quarter. Bank of America Corp DE lifted its stake in Summit Therapeutics by 16.1% in the third quarter. Bank of America Corp DE now owns 657,313 shares of the company's stock valued at $13,580,000 after buying an additional 91,166 shares during the period. Finally, TD Asset Management Inc lifted its stake in Summit Therapeutics by 11.1% in the third quarter. TD Asset Management Inc now owns 537,530 shares of the company's stock valued at $11,105,000 after buying an additional 53,520 shares during the period. Institutional investors and hedge funds own 4.61% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Summit Therapeutics in a research report on Thursday, January 22nd. Zacks Research raised shares of Summit Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 5th. Citigroup reissued a "buy" rating on shares of Summit Therapeutics in a research report on Tuesday, February 24th. HC Wainwright decreased their price target on shares of Summit Therapeutics from $40.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, February 24th. Finally, Citizens Jmp restated a "market outperform" rating and issued a $40.00 price objective on shares of Summit Therapeutics in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.83.

Summit Therapeutics Stock Performance

NASDAQ SMMT opened at $15.60 on Tuesday. The stock has a market capitalization of $12.10 billion, a price-to-earnings ratio of -10.76 and a beta of -1.43. The stock's 50 day moving average price is $15.74 and its two-hundred day moving average price is $17.80. Summit Therapeutics PLC has a 52 week low of $13.83 and a 52 week high of $36.91.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.07). On average, equities research analysts forecast that Summit Therapeutics PLC will post -0.3 EPS for the current year.

About Summit Therapeutics

Summit Therapeutics plc is a clinical‐stage biotechnology company dedicated to the discovery and development of precision medicines for serious and life‐threatening diseases. The company applies a targeted approach to drug design, focusing on novel mechanisms of action that differentiate its candidates from existing therapies.

Summit's lead asset, ridinilazole (formerly SMT19969), is being developed to treat Clostridioides difficile infections and has received both Fast Track and Qualified Infectious Disease Product designations from the U.S.

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