Deutsche Bank AG Makes New $3.49 Million Investment in Summit Therapeutics PLC $SMMT

Key Points

• Deutsche Bank initiated a $3.49 million position in Summit Therapeutics during the second quarter by purchasing 239,347 shares. Institutional investors own 4.61% of the company, while corporate insiders hold 83.50%.
• Analyst sentiment is mixed: Summit has an average “Hold” rating and a consensus price target of $24.07, with ratings ranging from “Strong Buy” to “Sell.” The stock recently traded at $14.23, well below its 52-week high of $29.23.
• Insiders made substantial purchases, including CEO Robert Duggan’s $49.99 million acquisition and CFO Manmeet Singh Soni’s $722,500 purchase. However, the company missed its latest quarterly EPS estimate and faces cash-burn and funding risks as it expands its clinical pipeline.

Deutsche Bank AG bought a new position in shares of Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 239,347 shares of the company's stock, valued at approximately $3,487,000.

Other hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Summit Therapeutics by 1.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,411 shares of the company's stock worth $1,273,000 after purchasing an additional 694 shares during the period. Fifth Third Bancorp lifted its position in Summit Therapeutics by 24.4% during the first quarter. Fifth Third Bancorp now owns 3,732 shares of the company's stock worth $71,000 after purchasing an additional 732 shares during the period. Sei Investments Co. lifted its position in Summit Therapeutics by 3.3% during the third quarter. Sei Investments Co. now owns 27,163 shares of the company's stock worth $561,000 after purchasing an additional 860 shares during the period. Levin Capital Strategies L.P. grew its stake in Summit Therapeutics by 2.7% during the fourth quarter. Levin Capital Strategies L.P. now owns 37,676 shares of the company's stock worth $659,000 after buying an additional 1,000 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its stake in Summit Therapeutics by 1.1% during the fourth quarter. State of Wisconsin Investment Board now owns 92,882 shares of the company's stock worth $1,625,000 after buying an additional 1,047 shares in the last quarter. 4.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SMMT has been the subject of a number of research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Summit Therapeutics in a report on Friday, July 17th. KeyCorp reiterated an "overweight" rating on shares of Summit Therapeutics in a research report on Monday, June 1st. Jefferies Financial Group set a $15.00 target price on shares of Summit Therapeutics in a research report on Friday, July 24th. Piper Sandler decreased their target price on shares of Summit Therapeutics from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Friday, May 1st. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Summit Therapeutics in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Summit Therapeutics has an average rating of "Hold" and an average price target of $24.07.

Insider Activity

In related news, CFO Manmeet Singh Soni bought 50,000 shares of the company's stock in a transaction on Thursday, June 4th. The shares were purchased at an average cost of $14.45 per share, for a total transaction of $722,500.00. Following the completion of the purchase, the chief financial officer directly owned 3,123,603 shares in the company, valued at $45,136,063.35. The trade was a 1.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert W. Duggan bought 3,810,000 shares of the stock in a transaction on Friday, June 12th. The stock was purchased at an average price of $13.12 per share, for a total transaction of $49,987,200.00. Following the completion of the purchase, the chief executive officer owned 573,883,879 shares of the company's stock, valued at approximately $7,529,356,492.48. This trade represents a 0.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 7,870,000 shares of company stock valued at $103,616,900 over the last three months. Corporate insiders own 83.50% of the company's stock.

Key Headlines Impacting Summit Therapeutics

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

• Positive Sentiment: Partner Akeso reported positive topline results from the Phase 3 HARMONi-GI1 trial in advanced biliary tract cancer. Ivonescimab plus chemotherapy delivered a statistically significant overall-survival benefit versus durvalumab plus chemotherapy, potentially strengthening the drug’s commercial opportunity beyond non-small-cell lung cancer. HARMONi-GI1 biliary tract cancer results
• Positive Sentiment: The HARMONi-GI1 findings were described as outperforming AstraZeneca’s Imfinzi, raising expectations for ivonescimab’s competitive positioning in gastrointestinal cancers. Ivonescimab outperforms Imfinzi
• Positive Sentiment: Results from the global Phase 3 HARMONi trial, published in The Lancet Oncology, showed a statistically significant and clinically meaningful progression-free-survival improvement for ivonescimab plus chemotherapy in EGFR-mutated non-small-cell lung cancer. This adds peer-reviewed support for Summit’s lead program while investors await pivotal global data and potential FDA decisions. Global HARMONi trial publication
• Positive Sentiment: Seeking Alpha upgraded Summit to Buy, citing improving sentiment and approaching clinical and regulatory catalysts. The upgrade may be contributing to greater buying interest despite the stock’s high volatility. Summit Therapeutics rating upgrade
• Neutral Sentiment: HC Wainwright reaffirmed a Neutral rating, indicating that some analysts remain cautious while awaiting additional efficacy, regulatory, and commercial evidence.
• Negative Sentiment: Summit’s cash may cover only four to five quarters, while aggressive pipeline expansion and elevated operating expenses increase cash-burn and going-concern risks. The company also recently reported a quarterly loss slightly wider than analysts expected.

Summit Therapeutics Stock Performance

Summit Therapeutics stock opened at $14.23 on Thursday. The firm has a market cap of $11.35 billion, a price-to-earnings ratio of -12.71 and a beta of -1.23. Summit Therapeutics PLC has a 52-week low of $12.07 and a 52-week high of $29.23. The firm has a 50 day moving average price of $14.11 and a two-hundred day moving average price of $16.18.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). As a group, equities research analysts predict that Summit Therapeutics PLC will post -1.2 EPS for the current fiscal year.

Summit Therapeutics Profile

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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