Public Employees Retirement System of Ohio Takes Position in Summit Therapeutics PLC $SMMT

Public Employees Retirement System of Ohio bought a new stake in Summit Therapeutics PLC (NASDAQ:SMMT) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 38,501 shares of the company’s stock, valued at approximately $561,000.

Several other large investors have also made changes to their positions in SMMT. AQR Capital Management LLC lifted its holdings in Summit Therapeutics by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 65,623 shares of the company’s stock valued at $1,266,000 after purchasing an additional 3,134 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Summit Therapeutics by 1.1% in 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 in the last quarter. Creative Planning grew its stake in Summit Therapeutics by 6.7% during the second quarter. Creative Planning now owns 21,390 shares of the company’s stock worth $455,000 after buying an additional 1,336 shares during the last quarter. Legal & General Group Plc grew its stake in Summit Therapeutics by 33.8% during the second quarter. Legal & General Group Plc now owns 26,367 shares of the company’s stock worth $561,000 after buying an additional 6,662 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Summit Therapeutics during the second quarter worth approximately $132,000. Institutional investors own 4.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SMMT. Guggenheim reiterated a “buy” rating on shares of Summit Therapeutics in a research note on Wednesday, August 26th. Summit Redstone set a $25.00 price target on Summit Therapeutics in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Summit Therapeutics in a report on Tuesday, September 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Summit Therapeutics in a report on Friday, July 17th. Finally, KeyCorp reiterated an “overweight” rating on shares of Summit Therapeutics in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.91.

Summit Therapeutics Trading Down 3.1%

Shares of SMMT stock opened at $17.00 on Friday. Summit Therapeutics PLC has a 1 year low of $12.07 and a 1 year high of $29.23. The firm’s 50 day moving average is $14.46 and its 200-day moving average is $16.22. The firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of -15.18 and a beta of -1.24.

Summit Therapeutics (NASDAQ:SMMT) last released its quarterly earnings results on Thursday, July 23rd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). On average, equities research analysts forecast that Summit Therapeutics PLC will post -1.2 earnings per share for the current fiscal year.

About Summit Therapeutics

Summit Therapeutics plc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for the treatment of cancer. The company’s lead program is ivonescimab, an investigational bispecific antibody designed to combine immune checkpoint inhibition against PD-1 with selective inhibition of vascular endothelial growth factor A (VEGF-A). Summit is evaluating ivonescimab in clinical studies involving patients with non-small cell lung cancer and other solid tumors.

Summit has entered into a licensing and collaboration agreement with Akeso, a biotechnology company that discovered and developed ivonescimab.