World Equity Group Inc. cut its stake in Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) by 48.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,772 shares of the company's stock after selling 14,062 shares during the period. World Equity Group Inc.'s holdings in Summit Therapeutics were worth $285,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Summit Therapeutics by 4.5% during the fourth quarter. Rhumbline Advisers now owns 125,202 shares of the company's stock worth $2,234,000 after purchasing an additional 5,394 shares during the last quarter. Principal Financial Group Inc. lifted its position in Summit Therapeutics by 252.8% in the 4th quarter. Principal Financial Group Inc. now owns 205,150 shares of the company's stock worth $3,661,000 after buying an additional 147,003 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Summit Therapeutics by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 21,577 shares of the company's stock worth $385,000 after buying an additional 1,132 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Summit Therapeutics by 18.6% in the fourth quarter. New York State Common Retirement Fund now owns 29,377 shares of the company's stock worth $524,000 after buying an additional 4,600 shares in the last quarter. Finally, HealthInvest Partners AB grew its position in Summit Therapeutics by 17.6% during the fourth quarter. HealthInvest Partners AB now owns 101,177 shares of the company's stock valued at $1,806,000 after acquiring an additional 15,164 shares during the last quarter. Institutional investors own 4.61% of the company's stock.
Summit Therapeutics Stock Performance
Shares of SMMT stock opened at $20.56 on Friday. Summit Therapeutics PLC has a fifty-two week low of $6.78 and a fifty-two week high of $36.91. The firm has a market cap of $15.27 billion, a P/E ratio of -60.47 and a beta of -1.06. The business's 50 day moving average price is $23.76 and its 200-day moving average price is $20.99.
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. As a group, equities analysts predict that Summit Therapeutics PLC will post -0.3 EPS for the current year.
Analysts Set New Price Targets
SMMT has been the subject of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating on shares of Summit Therapeutics in a report on Wednesday, April 23rd. Leerink Partners assumed coverage on shares of Summit Therapeutics in a research note on Wednesday, June 11th. They issued an "underperform" rating and a $12.00 price target for the company. Evercore ISI assumed coverage on Summit Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $30.00 price objective on the stock. Summit Redstone set a $35.00 price objective on Summit Therapeutics in a report on Wednesday, March 26th. Finally, Jefferies Financial Group set a $44.00 target price on Summit Therapeutics and gave the company a "buy" rating in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $35.09.
View Our Latest Report on Summit Therapeutics
About Summit Therapeutics
(
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.
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