TD Asset Management Inc Sells 30,764 Shares of Summit Therapeutics PLC (NASDAQ:SMMT)

TD Asset Management Inc lowered its holdings in Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) by 3.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 807,190 shares of the company's stock after selling 30,764 shares during the period. TD Asset Management Inc owned about 0.11% of Summit Therapeutics worth $15,571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. American Century Companies Inc. bought a new position in Summit Therapeutics in the fourth quarter worth about $231,000. Vanguard Group Inc. boosted its holdings in Summit Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 11,670,576 shares of the company's stock worth $208,261,000 after buying an additional 724,040 shares in the last quarter. Norges Bank acquired a new position in shares of Summit Therapeutics in the 4th quarter valued at $1,784,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Summit Therapeutics during the fourth quarter valued at approximately $193,000. Finally, DnB Asset Management AS boosted its position in shares of Summit Therapeutics by 21.6% in the fourth quarter. DnB Asset Management AS now owns 34,978 shares of the company's stock worth $624,000 after buying an additional 6,208 shares during the period. 4.61% of the stock is currently owned by hedge funds and other institutional investors.

Summit Therapeutics Price Performance

SMMT traded up $0.70 during trading on Friday, reaching $27.07. 1,916,991 shares of the stock were exchanged, compared to its average volume of 2,682,650. Summit Therapeutics PLC has a twelve month low of $8.88 and a twelve month high of $36.91. The stock's 50 day moving average price is $23.32 and its two-hundred day moving average price is $22.25.

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, beating the consensus estimate of ($0.10) by $0.01. On average, research analysts forecast that Summit Therapeutics PLC will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

SMMT has been the subject of a number of research reports. Jefferies Financial Group set a $44.00 price objective on Summit Therapeutics and gave the company a "buy" rating in a research report on Friday, April 25th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Summit Therapeutics in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of Summit Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 29th. JMP Securities reaffirmed a "market outperform" rating and issued a $40.00 target price on shares of Summit Therapeutics in a report on Monday, June 2nd. Finally, TD Cowen raised shares of Summit Therapeutics to a "strong-buy" rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $34.67.

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.