Summit Therapeutics PLC (NASDAQ:SMMT - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $24.55, but opened at $23.60. Summit Therapeutics shares last traded at $23.49, with a volume of 589,436 shares trading hands.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Evercore ISI assumed coverage on shares of Summit Therapeutics in a report on Wednesday, March 12th. They set an "outperform" rating and a $30.00 price objective on the stock. UBS Group started coverage on shares of Summit Therapeutics in a research note on Tuesday, July 1st. They set a "buy" rating and a $30.00 price target on the stock. TD Cowen upgraded shares of Summit Therapeutics to a "strong-buy" rating in a research note on Thursday, May 8th. Cantor Fitzgerald restated an "overweight" rating on shares of Summit Therapeutics in a research report on Wednesday, April 23rd. Finally, Leerink Partners assumed coverage on Summit Therapeutics in a research report on Wednesday, June 11th. They set an "underperform" rating and a $12.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Summit Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $34.67.
Read Our Latest Report on SMMT
Summit Therapeutics Trading Down 5.2%
The firm has a fifty day simple moving average of $22.75 and a two-hundred day simple moving average of $21.26. The stock has a market cap of $17.28 billion, a PE ratio of -69.12 and a beta of -1.01.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last posted its quarterly earnings data 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. Equities analysts forecast that Summit Therapeutics PLC will post -0.3 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in shares of Summit Therapeutics by 33.7% in the fourth quarter. Bank of New York Mellon Corp now owns 333,510 shares of the company's stock worth $5,951,000 after buying an additional 84,117 shares during the period. Steward Partners Investment Advisory LLC increased its position in Summit Therapeutics by 56.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,503 shares of the company's stock valued at $45,000 after purchasing an additional 900 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Summit Therapeutics by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,485,072 shares of the company's stock worth $26,501,000 after acquiring an additional 52,359 shares during the period. Bender Robert & Associates purchased a new position in shares of Summit Therapeutics during the 4th quarter worth approximately $205,000. Finally, Rakuten Securities Inc. purchased a new stake in Summit Therapeutics in the fourth quarter worth $71,000. 4.61% of the stock is owned by hedge funds and other institutional investors.
About Summit Therapeutics
(
Get 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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