Summit Therapeutics PLC $SMMT Shares Acquired by Griffin Asset Management Inc.

Griffin Asset Management Inc. grew its stake in Summit Therapeutics PLC (NASDAQ:SMMTFree Report) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 119,382 shares of the company’s stock after buying an additional 2,172 shares during the quarter. Griffin Asset Management Inc.’s holdings in Summit Therapeutics were worth $2,540,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. APEIRON CAPITAL Ltd acquired a new position in shares of Summit Therapeutics in the 2nd quarter valued at about $25,556,000. Ball & Co Wealth Management Inc. acquired a new position in shares of Summit Therapeutics in the 2nd quarter valued at about $31,000. IFP Advisors Inc lifted its holdings in shares of Summit Therapeutics by 4,264.0% in the 2nd quarter. IFP Advisors Inc now owns 4,364 shares of the company’s stock valued at $93,000 after buying an additional 4,264 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Summit Therapeutics by 15.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,548 shares of the company’s stock valued at $650,000 after buying an additional 4,030 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Summit Therapeutics in the 2nd quarter valued at about $772,000. Institutional investors and hedge funds own 4.61% of the company’s stock.

Summit Therapeutics Price Performance

Shares of Summit Therapeutics stock opened at $21.35 on Monday. The business has a 50 day simple moving average of $23.15 and a two-hundred day simple moving average of $23.31. Summit Therapeutics PLC has a 12 month low of $15.55 and a 12 month high of $36.91. The stock has a market capitalization of $15.86 billion, a P/E ratio of -21.14 and a beta of -1.13.

Summit Therapeutics (NASDAQ:SMMTGet Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.66). As a group, research analysts anticipate that Summit Therapeutics PLC will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SMMT. Guggenheim began coverage on Summit Therapeutics in a report on Wednesday, September 3rd. They issued a “buy” rating and a $40.00 price target for the company. Barclays began coverage on Summit Therapeutics in a report on Wednesday, September 17th. They issued an “underweight” rating and a $13.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Summit Therapeutics in a report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Summit Therapeutics in a report on Tuesday, September 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price target on shares of Summit Therapeutics in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.29.

Check Out Our Latest Stock Analysis on SMMT

Insider Buying and Selling

In other news, CEO Robert W. Duggan bought 333,394 shares of Summit Therapeutics stock in a transaction on Wednesday, September 10th. The stock was acquired at an average price of $17.68 per share, with a total value of $5,894,405.92. Following the completion of the acquisition, the chief executive officer directly owned 556,088,090 shares of the company’s stock, valued at $9,831,637,431.20. The trade was a 0.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mahkam Zanganeh bought 333,394 shares of Summit Therapeutics stock in a transaction on Wednesday, September 10th. The shares were purchased at an average cost of $17.68 per share, with a total value of $5,894,405.92. Following the acquisition, the chief executive officer directly owned 556,088,090 shares of the company’s stock, valued at approximately $9,831,637,431.20. The trade was a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 676,788 shares of company stock valued at $11,969,512 in the last three months. Insiders own 84.90% of the company’s stock.

Summit Therapeutics Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Summit Therapeutics (NASDAQ:SMMT)

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