Profund Advisors LLC Grows Position in Summit Therapeutics PLC $SMMT

Profund Advisors LLC grew its holdings in shares of Summit Therapeutics PLC (NASDAQ:SMMT) by 48.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,761 shares of the company’s stock after acquiring an additional 33,828 shares during the quarter. Profund Advisors LLC’s holdings in Summit Therapeutics were worth $1,815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amalgamated Bank increased its position in shares of Summit Therapeutics by 7.7% in the third quarter. Amalgamated Bank now owns 8,552 shares of the company’s stock worth $177,000 after purchasing an additional 609 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 purchasing an additional 694 shares during the last quarter. Sei Investments Co. lifted its position in Summit Therapeutics by 3.3% during the third quarter. Sei Investments Co. now owns 27,163 shares of the company’s stock valued at $561,000 after purchasing an additional 860 shares during the last quarter. Levin Capital Strategies L.P. grew its stake in Summit Therapeutics by 2.7% in the 4th quarter. Levin Capital Strategies L.P. now owns 37,676 shares of the company’s stock worth $659,000 after buying an additional 1,000 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Summit Therapeutics by 1.0% in the 2nd quarter. Cerity Partners LLC now owns 114,844 shares of the company’s stock worth $2,444,000 after buying an additional 1,190 shares during the last quarter. Hedge funds and other institutional investors own 4.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Truist Financial upgraded shares of Summit Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Citigroup began coverage on shares of Summit Therapeutics in a research report on Wednesday, April 8th. They issued a “buy” rating for the company. Zacks Research upgraded Summit Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Citizens Jmp reaffirmed a “market outperform” rating and set a $40.00 price target on shares of Summit Therapeutics in a research note on Friday, January 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Summit Therapeutics in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.58.

Summit Therapeutics Stock Performance

SMMT stock opened at $17.89 on Thursday. The company has a market capitalization of $13.89 billion, a PE ratio of -11.18 and a beta of -1.25. Summit Therapeutics PLC has a one year low of $13.83 and a one year high of $30.98. The company’s 50 day moving average price is $18.89 and its two-hundred day moving average price is $17.62.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03. On average, research analysts predict that Summit Therapeutics PLC will post -1.17 EPS for the current year.

Summit Therapeutics Company 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.