Summit Therapeutics PLC (NASDAQ:SMMT - Get Free Report) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $14.28 and traded as high as $15.73. Summit Therapeutics shares last traded at $15.11, with a volume of 4,959,993 shares changing hands.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. HC Wainwright reaffirmed a "neutral" rating on shares of Summit Therapeutics in a research note on Thursday, August 6th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Summit Therapeutics in a report on Friday, July 24th. KeyCorp reissued an "overweight" rating on shares of Summit Therapeutics in a research note on Monday, June 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Summit Therapeutics in a report on Friday, July 17th. Finally, Sanford C. Bernstein started coverage on shares of Summit Therapeutics in a research report on Thursday, May 21st. They issued an "underperform" rating and a $7.70 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Summit Therapeutics has a consensus rating of "Hold" and an average price target of $25.37.
Check Out Our Latest Research Report on SMMT
Summit Therapeutics Trading Up 1.6%
The firm has a market cap of $12.05 billion, a price-to-earnings ratio of -13.49 and a beta of -1.23. The stock has a 50-day moving average of $14.28 and a two-hundred day moving average of $16.33.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Sell-side analysts expect that Summit Therapeutics PLC will post -1.2 EPS for the current fiscal year.
Insider Transactions at Summit Therapeutics
In other news, CEO Robert W. Duggan purchased 3,810,000 shares of Summit Therapeutics stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average price of $13.12 per share, for a total transaction of $49,987,200.00. Following the transaction, the chief executive officer owned 573,883,879 shares in the company, valued at $7,529,356,492.48. The trade was a 0.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Manmeet Singh Soni acquired 50,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average cost of $14.45 per share, with a total value of $722,500.00. Following the purchase, the chief financial officer directly owned 3,123,603 shares in the company, valued at approximately $45,136,063.35. This trade represents a 1.63% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 7,870,000 shares of company stock valued at $103,616,900 over the last ninety days. Corporate insiders own 83.50% of the company's stock.
Institutional Trading of Summit Therapeutics
Large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of Summit Therapeutics by 5.0% in the first quarter. AQR Capital Management LLC now owns 65,623 shares of the company's stock worth $1,266,000 after buying an additional 3,134 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Summit Therapeutics by 1.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,411 shares of the company's stock valued at $1,273,000 after buying an additional 694 shares during the period. Creative Planning lifted its stake in Summit Therapeutics by 6.7% in the 2nd quarter. Creative Planning now owns 21,390 shares of the company's stock worth $455,000 after acquiring an additional 1,336 shares in the last quarter. Legal & General Group Plc lifted its stake in Summit Therapeutics by 33.8% in the 2nd quarter. Legal & General Group Plc now owns 26,367 shares of the company's stock worth $561,000 after acquiring an additional 6,662 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Summit Therapeutics in the 2nd quarter worth about $132,000. 4.61% of the stock is owned by institutional investors and hedge funds.
About Summit Therapeutics
(
Get Free Report)
Summit Therapeutics plc is a clinical‐stage biotechnology company dedicated to the discovery and development of precision medicines for serious and life‐threatening diseases. The company applies a targeted approach to drug design, focusing on novel mechanisms of action that differentiate its candidates from existing therapies.
Summit's lead asset, ridinilazole (formerly SMT19969), is being developed to treat Clostridioides difficile infections and has received both Fast Track and Qualified Infectious Disease Product designations from the U.S.
Further Reading
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