Tudor Investment Corp ET AL Purchases New Holdings in Summit Therapeutics PLC $SMMT

Tudor Investment Corp ET AL purchased a new stake in Summit Therapeutics PLC (NASDAQ:SMMT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 347,241 shares of the company’s stock, valued at approximately $7,174,000.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Summit Therapeutics by 31.2% during the 3rd quarter. Vanguard Group Inc. now owns 11,379,728 shares of the company’s stock worth $235,105,000 after purchasing an additional 2,706,056 shares during the last quarter. Norges Bank acquired a new stake in shares of Summit Therapeutics in the 2nd quarter valued at approximately $29,576,000. APEIRON CAPITAL Ltd grew its stake in shares of Summit Therapeutics by 9.2% in the third quarter. APEIRON CAPITAL Ltd now owns 1,310,941 shares of the company’s stock valued at $27,084,000 after buying an additional 110,000 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Summit Therapeutics by 16.1% in the third quarter. Bank of America Corp DE now owns 657,313 shares of the company’s stock valued at $13,580,000 after buying an additional 91,166 shares in the last quarter. Finally, TD Asset Management Inc raised its position in Summit Therapeutics by 11.1% during the third quarter. TD Asset Management Inc now owns 537,530 shares of the company’s stock worth $11,105,000 after acquiring an additional 53,520 shares in the last quarter. Institutional investors and hedge funds own 4.61% of the company’s stock.

Summit Therapeutics Trading Up 0.6%

NASDAQ:SMMT opened at $15.60 on Tuesday. The stock has a market cap of $12.10 billion, a P/E ratio of -10.76 and a beta of -1.43. The stock has a 50 day simple moving average of $15.74 and a 200 day simple moving average of $17.80. Summit Therapeutics PLC has a 1-year low of $13.83 and a 1-year high of $36.91.

Summit Therapeutics (NASDAQ:SMMT) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.07). As a group, sell-side analysts forecast that Summit Therapeutics PLC will post -0.3 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on SMMT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Summit Therapeutics in a research note on Thursday, January 22nd. Jefferies Financial Group cut shares of Summit Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the company from $42.00 to $15.00 in a report on Monday, March 16th. Barclays upgraded shares of Summit Therapeutics from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $16.00 to $18.00 in a research note on Wednesday, December 17th. Summit Redstone set a $18.00 price target on Summit Therapeutics in a research report on Wednesday, December 17th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $40.00 price objective on shares of Summit Therapeutics in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Summit Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.83.

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.