Siren L.L.C. Takes Position in Summit Therapeutics PLC $SMMT

Key Points

• Siren L.L.C. invested approximately $13.41 million in Summit Therapeutics PLC by purchasing 695,000 shares, representing a 0.09% stake in the company.
• Summit Therapeutics recently reported an EPS of ($0.76), significantly missing the consensus estimate of ($0.10) per share.
• According to analysts, Summit Therapeutics has a consensus rating of "Moderate Buy" with a price target of $33.31, while its shares have experienced various ratings, including one "Strong Buy" and three "Sell" ratings.

Siren L.L.C. bought a new position in shares of Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 695,000 shares of the company's stock, valued at approximately $13,407,000. Siren L.L.C. owned 0.09% of Summit Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Tema Etfs LLC raised its stake in shares of Summit Therapeutics by 268.3% during the first quarter. Tema Etfs LLC now owns 98,111 shares of the company's stock valued at $1,893,000 after acquiring an additional 71,470 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in Summit Therapeutics by 4.8% in the first quarter. CreativeOne Wealth LLC now owns 21,169 shares of the company's stock valued at $408,000 after purchasing an additional 974 shares during the period. AlphaQuest LLC bought a new position in Summit Therapeutics during the 1st quarter worth $49,000. Lord Abbett & CO. LLC bought a new position in Summit Therapeutics during the 1st quarter worth $3,000,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Summit Therapeutics by 204.3% in the first quarter. Russell Investments Group Ltd. now owns 211,004 shares of the company's stock worth $4,070,000 after acquiring an additional 141,664 shares during the period. 4.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SMMT shares. UBS Group assumed coverage on shares of Summit Therapeutics in a research note on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price objective on the stock. Piper Sandler initiated coverage on shares of Summit Therapeutics in a report on Monday, August 18th. They issued a "neutral" rating and a $21.00 target price on the stock. Summit Redstone set a $21.00 target price on Summit Therapeutics in a research note on Tuesday, August 19th. Wall Street Zen downgraded Summit Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, HC Wainwright restated a "buy" rating and set a $50.00 price target on shares of Summit Therapeutics in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $33.31.

Summit Therapeutics Trading Up 0.5%

Shares of SMMT traded up $0.12 on Tuesday, reaching $23.82. The company's stock had a trading volume of 1,600,483 shares, compared to its average volume of 3,606,293. The stock has a market capitalization of $17.69 billion, a PE ratio of -23.58 and a beta of -1.02. The firm has a fifty day moving average of $25.59 and a 200-day moving average of $23.14. Summit Therapeutics PLC has a twelve month low of $11.76 and a twelve month high of $36.91.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last announced its earnings results 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). As a group, equities analysts anticipate that Summit Therapeutics PLC will post -0.3 EPS for the current fiscal year.

Summit Therapeutics Company 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.