Universal Beteiligungs und Servicegesellschaft mbH Buys New Stake in Summit Therapeutics PLC (NASDAQ:SMMT)

Universal Beteiligungs und Servicegesellschaft mbH 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 SEC. The institutional investor bought 15,980 shares of the company's stock, valued at approximately $308,000.

Other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in shares of Summit Therapeutics by 79.2% in the 4th quarter. Wells Fargo & Company MN now owns 95,265 shares of the company's stock valued at $1,700,000 after acquiring an additional 42,090 shares during the period. Dimensional Fund Advisors LP raised its holdings in Summit Therapeutics by 358.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 205,337 shares of the company's stock worth $3,664,000 after purchasing an additional 160,592 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Summit Therapeutics by 10.5% during the 4th quarter. Bank of America Corp DE now owns 431,568 shares of the company's stock worth $7,701,000 after acquiring an additional 40,908 shares in the last quarter. Vanguard Group Inc. lifted its position in Summit Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 11,670,576 shares of the company's stock valued at $208,261,000 after acquiring an additional 724,040 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Summit Therapeutics in the fourth quarter worth $8,801,000. Hedge funds and other institutional investors own 4.61% of the company's stock.

Analyst Upgrades and Downgrades

SMMT has been the subject of a number of research reports. Leerink Partnrs raised Summit Therapeutics to a "strong sell" rating in a research report on Wednesday, June 11th. The Goldman Sachs Group lifted their price target on Summit Therapeutics from $37.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Jefferies Financial Group set a $44.00 price objective on shares of Summit Therapeutics and gave the company a "buy" rating in a report on Friday, April 25th. UBS Group began coverage on Summit Therapeutics in a research report on Tuesday, July 1st. They set a "buy" rating and a $30.00 price objective for the company. Finally, TD Cowen upgraded Summit Therapeutics to a "strong-buy" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Summit Therapeutics has an average rating of "Moderate Buy" and an average price target of $34.67.

Summit Therapeutics Stock Performance

Summit Therapeutics stock traded up $2.25 during trading on Monday, reaching $29.32. The company had a trading volume of 2,909,612 shares, compared to its average volume of 2,778,545. The firm has a market capitalization of $21.78 billion, a price-to-earnings ratio of -86.23 and a beta of -1.06. The stock's 50 day moving average price is $23.35 and its two-hundred day moving average price is $22.38. Summit Therapeutics PLC has a 12-month low of $8.88 and a 12-month high of $36.91.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. As a group, research analysts expect that Summit Therapeutics PLC will post -0.3 earnings per share for the current year.

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.