Summit Therapeutics PLC $SMMT Shares Acquired by IFP Advisors Inc

IFP Advisors Inc lifted its position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) by 4,264.0% during the second quarter, HoldingsChannel reports. The firm owned 4,364 shares of the company’s stock after purchasing an additional 4,264 shares during the quarter. IFP Advisors Inc’s holdings in Summit Therapeutics were worth $93,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its position in shares of Summit Therapeutics by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,502 shares of the company’s stock worth $29,000 after purchasing an additional 751 shares in the last quarter. CWM LLC lifted its position in shares of Summit Therapeutics by 3,455.3% during the first quarter. CWM LLC now owns 1,671 shares of the company’s stock worth $32,000 after purchasing an additional 1,624 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of Summit Therapeutics during the first quarter worth $49,000. Exchange Traded Concepts LLC lifted its position in shares of Summit Therapeutics by 11.4% during the first quarter. Exchange Traded Concepts LLC now owns 6,328 shares of the company’s stock worth $122,000 after purchasing an additional 647 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Summit Therapeutics by 81.7% during the first quarter. Advisors Asset Management Inc. now owns 11,167 shares of the company’s stock worth $215,000 after purchasing an additional 5,021 shares in the last quarter. 4.61% of the stock is owned by institutional investors and hedge funds.

Summit Therapeutics Price Performance

Shares of SMMT stock opened at $20.99 on Monday. The firm has a market cap of $15.59 billion, a P/E ratio of -20.78 and a beta of -1.13. Summit Therapeutics PLC has a 1-year low of $15.55 and a 1-year high of $36.91. The firm has a fifty day moving average of $22.48 and a two-hundred day moving average of $23.40.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.66). On average, sell-side analysts expect that Summit Therapeutics PLC will post -0.3 EPS for the current year.

Insider Buying and Selling at Summit Therapeutics

In other Summit Therapeutics news, CEO Robert W. Duggan bought 5,000 shares of the stock in a transaction on Thursday, September 11th. The stock was purchased at an average price of $18.07 per share, for a total transaction of $90,350.00. Following the completion of the purchase, the chief executive officer directly owned 556,093,090 shares in the company, valued at approximately $10,048,602,136.30. This trade represents a 0.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mahkam Zanganeh bought 5,000 shares of the stock in a transaction on Thursday, September 11th. The shares were acquired at an average price of $18.07 per share, with a total value of $90,350.00. Following the purchase, the chief executive officer owned 556,093,090 shares of the company’s stock, valued at $10,048,602,136.30. The trade was a 0.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 676,788 shares of company stock valued at $11,969,512. 84.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SMMT shares. Citigroup reissued a “buy” rating on shares of Summit Therapeutics in a research report on Thursday, September 25th. Summit Redstone set a $13.00 target price on shares of Summit Therapeutics in a research report on Tuesday, September 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Summit Therapeutics in a research report on Monday, September 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Summit Therapeutics in a research note on Wednesday, October 8th. Finally, JMP Securities reiterated a “market outperform” rating and set a $40.00 price objective on shares of Summit Therapeutics in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.29.

Summit Therapeutics Company 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.