Skandinaviska Enskilda Banken AB publ Has $6.99 Million Holdings in Summit Therapeutics PLC $SMMT

Skandinaviska Enskilda Banken AB publ grew its position in Summit Therapeutics PLC (NASDAQ:SMMT) by 409.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 338,363 shares of the company’s stock after buying an additional 271,912 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Summit Therapeutics were worth $6,991,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Crowley Wealth Management Inc. lifted its position in shares of Summit Therapeutics by 66.7% in the 3rd quarter. Crowley Wealth Management Inc. now owns 1,500 shares of the company’s stock valued at $31,000 after acquiring an additional 600 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in Summit Therapeutics by 34.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,756 shares of the company’s stock valued at $37,000 after purchasing an additional 447 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Summit Therapeutics by 325.5% in the second quarter. PNC Financial Services Group Inc. now owns 2,638 shares of the company’s stock valued at $56,000 after purchasing an additional 2,018 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Summit Therapeutics in the third quarter worth $106,000. Finally, AlphaQuest LLC boosted its position in shares of Summit Therapeutics by 131.7% in the second quarter. AlphaQuest LLC now owns 5,891 shares of the company’s stock worth $125,000 after buying an additional 3,349 shares during the period. 4.61% of the stock is owned by hedge funds and other institutional investors.

Summit Therapeutics Stock Performance

NASDAQ:SMMT opened at $15.87 on Friday. The company has a market capitalization of $12.24 billion, a P/E ratio of -12.80 and a beta of -1.44. The stock’s 50 day moving average price is $16.67 and its 200 day moving average price is $19.50. Summit Therapeutics PLC has a 52 week low of $13.83 and a 52 week high of $36.91.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Piper Sandler set a $40.00 price objective on Summit Therapeutics in a research note on Wednesday, January 14th. Zacks Research downgraded Summit Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 4th. Barclays upgraded shares of Summit Therapeutics from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $16.00 to $18.00 in a report on Wednesday, December 17th. Citigroup reaffirmed a “market outperform” rating on shares of Summit Therapeutics in a research report on Friday, January 30th. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of Summit Therapeutics in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

About Summit Therapeutics

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.