Legato Capital Management LLC acquired a new stake in shares of Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,070 shares of the company's stock, valued at approximately $233,000.
A number of other large investors have also recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Summit Therapeutics during the first quarter valued at $308,000. Atle Fund Management AB grew its holdings in shares of Summit Therapeutics by 3.9% during the first quarter. Atle Fund Management AB now owns 105,077 shares of the company's stock valued at $2,027,000 after buying an additional 3,900 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in Summit Therapeutics during the first quarter valued at $894,000. Florida Financial Advisors LLC acquired a new position in Summit Therapeutics during the first quarter valued at $252,000. Finally, CWM LLC lifted its position in Summit Therapeutics by 3,455.3% during the first quarter. CWM LLC now owns 1,671 shares of the company's stock valued at $32,000 after purchasing an additional 1,624 shares during the period. 4.61% of the stock is owned by hedge funds and other institutional investors.
Summit Therapeutics Stock Performance
Shares of Summit Therapeutics stock opened at $28.67 on Friday. Summit Therapeutics PLC has a fifty-two week low of $8.88 and a fifty-two week high of $36.91. The firm has a 50-day simple moving average of $23.17 and a two-hundred day simple moving average of $22.02. The company has a market cap of $21.29 billion, a P/E ratio of -84.32 and a beta of -1.01.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. Equities research analysts forecast that Summit Therapeutics PLC will post -0.3 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on SMMT. Wall Street Zen upgraded shares of Summit Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 29th. Cantor Fitzgerald restated an "overweight" rating on shares of Summit Therapeutics in a research report on Wednesday, April 23rd. Leerink Partnrs upgraded shares of Summit Therapeutics to a "strong sell" rating in a research report on Wednesday, June 11th. TD Cowen upgraded shares of Summit Therapeutics to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, Leerink Partners began coverage on shares of Summit Therapeutics in a research report on Wednesday, June 11th. They set an "underperform" rating and a $12.00 target price for the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.67.
Get Our Latest Analysis on SMMT
Summit Therapeutics Company Profile
(
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.
Further Reading
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