Summit Therapeutics PLC (NASDAQ:SMMT) Shares Sold by Headlands Technologies LLC

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

Several other hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Summit Therapeutics by 20.6% in 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 buying an additional 1,118,270 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Summit Therapeutics by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 3,200,847 shares of the company's stock worth $57,133,000 after buying an additional 101,039 shares during the period. Rock Springs Capital Management LP lifted its holdings in shares of Summit Therapeutics by 1.3% in the 4th quarter. Rock Springs Capital Management LP now owns 1,054,000 shares of the company's stock worth $18,809,000 after buying an additional 14,000 shares during the period. Northern Trust Corp lifted its holdings in shares of Summit Therapeutics by 1.6% in the 4th quarter. Northern Trust Corp now owns 871,402 shares of the company's stock worth $15,550,000 after buying an additional 14,075 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Summit Therapeutics in the 4th quarter worth $8,801,000. Institutional investors own 4.61% of the company's stock.

Summit Therapeutics Trading Up 1.4%

Shares of SMMT stock traded up $0.38 during mid-day trading on Friday, reaching $26.83. The stock had a trading volume of 802,263 shares, compared to its average volume of 3,634,203. The business's fifty day moving average is $24.36 and its 200-day moving average is $22.73. The firm has a market cap of $19.93 billion, a price-to-earnings ratio of -26.59 and a beta of -1.06. Summit Therapeutics PLC has a 1-year low of $11.29 and a 1-year high of $36.91.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.66). On average, analysts forecast that Summit Therapeutics PLC will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group assumed coverage on Summit Therapeutics in a report on Tuesday, July 1st. They issued a "buy" rating and a $30.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating on shares of Summit Therapeutics in a research note on Wednesday, April 23rd. Leerink Partnrs upgraded Summit Therapeutics to a "strong sell" rating in a research note on Wednesday, June 11th. The Goldman Sachs Group upped their price objective on Summit Therapeutics from $37.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Leerink Partners initiated coverage on Summit Therapeutics in a research note on Wednesday, June 11th. They set an "underperform" rating and a $12.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Summit Therapeutics presently has a consensus rating of "Moderate Buy" and an average 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.