UBS Group AG Sells 493,064 Shares of Summit Therapeutics PLC $SMMT

UBS Group AG lessened its position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) by 36.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 870,719 shares of the company’s stock after selling 493,064 shares during the period. UBS Group AG’s holdings in Summit Therapeutics were worth $15,229,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in shares of Summit Therapeutics by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 65,623 shares of the company’s stock valued at $1,266,000 after acquiring an additional 3,134 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Summit Therapeutics by 1.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,411 shares of the company’s stock valued at $1,273,000 after acquiring an additional 694 shares in the last quarter. Creative Planning grew its holdings in shares of Summit Therapeutics by 6.7% in the 2nd quarter. Creative Planning now owns 21,390 shares of the company’s stock valued at $455,000 after acquiring an additional 1,336 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Summit Therapeutics by 33.8% in the 2nd quarter. Legal & General Group Plc now owns 26,367 shares of the company’s stock valued at $561,000 after acquiring an additional 6,662 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Summit Therapeutics in the 2nd quarter valued at about $132,000. Institutional investors own 4.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SMMT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Summit Therapeutics in a report on Tuesday, April 21st. Stifel Nicolaus started coverage on Summit Therapeutics in a report on Wednesday, April 8th. They issued a “buy” rating and a $45.00 price objective for the company. Piper Sandler decreased their price objective on Summit Therapeutics from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Wall Street Zen upgraded Summit Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Jefferies Financial Group cut Summit Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the company from $42.00 to $15.00 in a report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.58.

Summit Therapeutics Stock Performance

Shares of NASDAQ:SMMT opened at $18.79 on Thursday. Summit Therapeutics PLC has a 52-week low of $13.83 and a 52-week high of $30.98. The company has a market capitalization of $14.58 billion, a P/E ratio of -11.74 and a beta of -1.25. The company has a 50-day simple moving average of $18.72 and a 200 day simple moving average of $17.70.

Summit Therapeutics (NASDAQ:SMMT) last issued its earnings results on Thursday, April 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.03. As a group, equities analysts forecast that Summit Therapeutics PLC will post -1.17 earnings per share for the current year.

Summit Therapeutics Profile

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.