GAMMA Investing LLC lifted its holdings in Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) by 2,629.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,914 shares of the company's stock after buying an additional 15,331 shares during the quarter. GAMMA Investing LLC's holdings in Summit Therapeutics were worth $307,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of Summit Therapeutics by 79.2% in the fourth quarter. Wells Fargo & Company MN now owns 95,265 shares of the company's stock valued at $1,700,000 after buying an additional 42,090 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Summit Therapeutics by 252.8% in the fourth quarter. Principal Financial Group Inc. now owns 205,150 shares of the company's stock valued at $3,661,000 after buying an additional 147,003 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Summit Therapeutics by 358.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 205,337 shares of the company's stock valued at $3,664,000 after buying an additional 160,592 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Summit Therapeutics by 10.5% in the fourth quarter. Bank of America Corp DE now owns 431,568 shares of the company's stock valued at $7,701,000 after buying an additional 40,908 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Summit Therapeutics by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 11,670,576 shares of the company's stock valued at $208,261,000 after buying an additional 724,040 shares in the last quarter. 4.61% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have commented on SMMT. Evercore ISI began coverage on Summit Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating and a $30.00 target price on the stock. Leerink Partners began coverage on Summit Therapeutics in a research report on Wednesday, June 11th. They set an "underperform" rating and a $12.00 target price on the stock. Wall Street Zen downgraded Summit Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday. JMP Securities reiterated a "market outperform" rating and set a $40.00 target price on shares of Summit Therapeutics in a research report on Monday, June 2nd. Finally, Citigroup upgraded Summit Therapeutics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $23.00 to $35.00 in a research report on Wednesday, March 26th. Three analysts have rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Summit Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.09.
Read Our Latest Report on SMMT
Summit Therapeutics Trading Up 2.0%
Shares of NASDAQ:SMMT traded up $0.40 on Friday, hitting $20.56. The company had a trading volume of 2,998,974 shares, compared to its average volume of 3,626,690. Summit Therapeutics PLC has a 52-week low of $6.78 and a 52-week high of $36.91. The business has a 50 day moving average of $23.76 and a 200 day moving average of $20.99. The company has a market cap of $15.27 billion, a PE ratio of -60.47 and a beta of -1.06.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. As a group, equities analysts predict that Summit Therapeutics PLC will post -0.3 EPS for the current year.
About Summit Therapeutics
(
Free Report)
Summit Therapeutics Inc, a biopharmaceutical company, focuses on discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies in the United States, and the United Kingdom. The company's lead development candidate is Ivonescimab, a bispecific antibody for immunotherapy through blockade of PD-1 with the anti-angiogenesis; and anti-infectives portfolio includes SMT-738, a novel class of precision antibiotics for the treatment of multidrug resistant infections, which primarily includes carbapenem-resistant Enterobacteriaceae infections.
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