Summit Therapeutics PLC $SMMT Shares Bought by Baker BROS. Advisors LP

Baker BROS. Advisors LP grew its holdings in Summit Therapeutics PLC (NASDAQ:SMMT) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,391,063 shares of the company’s stock after buying an additional 2,668,089 shares during the period. Summit Therapeutics accounts for about 3.7% of Baker BROS. Advisors LP’s portfolio, making the stock its 9th biggest holding. Baker BROS. Advisors LP owned approximately 4.72% of Summit Therapeutics worth $636,480,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 during the last quarter. Sei Investments Co. lifted its holdings in Summit Therapeutics by 3.3% during the 3rd quarter. Sei Investments Co. now owns 27,163 shares of the company’s stock worth $561,000 after purchasing an additional 860 shares during the last quarter. Levin Capital Strategies L.P. lifted its holdings in Summit Therapeutics by 2.7% during the 4th quarter. Levin Capital Strategies L.P. now owns 37,676 shares of the company’s stock worth $659,000 after purchasing an additional 1,000 shares during the last quarter. State of Wisconsin Investment Board lifted its holdings in Summit Therapeutics by 1.1% during the 4th quarter. State of Wisconsin Investment Board now owns 92,882 shares of the company’s stock worth $1,625,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in Summit Therapeutics by 1.0% during the 2nd quarter. Cerity Partners LLC now owns 114,844 shares of the company’s stock worth $2,444,000 after purchasing an additional 1,190 shares during the last quarter. 4.61% of the stock is owned by institutional investors and hedge funds.

Summit Therapeutics Stock Performance

Shares of SMMT opened at $14.07 on Thursday. Summit Therapeutics PLC has a 52-week low of $12.55 and a 52-week high of $30.98. The business’s fifty day moving average is $18.25 and its 200-day moving average is $17.27. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of -8.79 and a beta of -1.32.

Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings results on Friday, May 1st. 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, research analysts forecast that Summit Therapeutics PLC will post -1.18 EPS for the current fiscal year.

Insider Activity

In other Summit Therapeutics news, CFO Manmeet Singh Soni purchased 50,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were bought at an average price of $14.45 per share, for a total transaction of $722,500.00. Following the purchase, the chief financial officer owned 3,123,603 shares in the company, valued at approximately $45,136,063.35. This trade represents a 1.63% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mahkam Zanganeh purchased 3,810,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was acquired at an average price of $13.12 per share, for a total transaction of $49,987,200.00. Following the purchase, the chief executive officer owned 573,883,879 shares in the company, valued at approximately $7,529,356,492.48. The trade was a 0.67% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 7,870,000 shares of company stock worth $103,616,900. Insiders own 83.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SMMT. Weiss Ratings reissued a “sell (d-)” rating on shares of Summit Therapeutics in a report on Tuesday, April 21st. Stifel Nicolaus began coverage on Summit Therapeutics in a report on Wednesday, April 8th. They set a “buy” rating and a $45.00 price target for the company. Zacks Research raised Summit Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. HC Wainwright cut Summit Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Finally, Jefferies Financial Group cut Summit Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the stock 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, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.23.

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.