Headlands Technologies LLC Sells 9,881 Shares of Summit Therapeutics PLC (NASDAQ:SMMT)

Headlands Technologies LLC reduced its stake in Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) by 57.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,289 shares of the company's stock after selling 9,881 shares during the period. Headlands Technologies LLC's holdings in Summit Therapeutics were worth $141,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in Summit Therapeutics by 20.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,557,927 shares of the company's stock worth $116,995,000 after purchasing an additional 1,118,270 shares in the last quarter. Geode Capital Management LLC grew its holdings in Summit Therapeutics by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 3,200,847 shares of the company's stock worth $57,133,000 after purchasing an additional 101,039 shares during the period. Rock Springs Capital Management LP grew its holdings in Summit Therapeutics by 1.3% during the fourth quarter. Rock Springs Capital Management LP now owns 1,054,000 shares of the company's stock worth $18,809,000 after purchasing an additional 14,000 shares during the period. Northern Trust Corp grew its position in shares of Summit Therapeutics by 1.6% in the fourth quarter. Northern Trust Corp now owns 871,402 shares of the company's stock valued at $15,550,000 after purchasing an additional 14,075 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Summit Therapeutics during the 4th quarter worth $8,801,000. 4.61% of the stock is currently owned by institutional investors.

Summit Therapeutics Stock Up 4.6%

NASDAQ:SMMT traded up $1.18 during midday trading on Wednesday, reaching $26.86. The stock had a trading volume of 5,371,662 shares, compared to its average volume of 3,655,296. Summit Therapeutics PLC has a 12-month low of $10.98 and a 12-month high of $36.91. The firm has a fifty day simple moving average of $24.23 and a two-hundred day simple moving average of $22.71. The stock has a market cap of $19.95 billion, a P/E ratio of -26.59 and a beta of -1.06.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.66). On average, sell-side analysts anticipate that Summit Therapeutics PLC will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SMMT shares. UBS Group started coverage on shares of Summit Therapeutics in a research report on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price target for the company. Wall Street Zen upgraded Summit Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 29th. JMP Securities reissued a "market outperform" rating and issued a $40.00 price objective on shares of Summit Therapeutics in a research note on Monday, June 2nd. HC Wainwright reissued a "buy" rating and issued a $44.00 price objective on shares of Summit Therapeutics in a research note on Tuesday, July 1st. Finally, Leerink Partners assumed coverage on shares of Summit Therapeutics in a research report on Wednesday, June 11th. They set an "underperform" rating and a $12.00 price target on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Summit Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

Summit Therapeutics Profile

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.