Summit Therapeutics PLC $SMMT Shares Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC raised its holdings in Summit Therapeutics PLC (NASDAQ:SMMT) by 70.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 339,176 shares of the company’s stock after acquiring an additional 140,323 shares during the period. Rafferty Asset Management LLC’s holdings in Summit Therapeutics were worth $7,007,000 as of its most recent filing with the SEC.

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

Summit Therapeutics Price Performance

NASDAQ SMMT opened at $16.19 on Tuesday. The stock’s 50 day simple moving average is $16.48 and its 200-day simple moving average is $18.80. The company has a market cap of $12.55 billion, a PE ratio of -11.17 and a beta of -1.43. Summit Therapeutics PLC has a 1-year low of $13.83 and a 1-year high of $36.91.

Summit Therapeutics (NASDAQ:SMMT) last issued 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). On average, equities research analysts anticipate that Summit Therapeutics PLC will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SMMT has been the topic of several analyst reports. Citigroup restated a “buy” rating on shares of Summit Therapeutics in a research report on Tuesday, February 24th. HC Wainwright lowered their target price on shares of Summit Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Piper Sandler set a $40.00 target price on Summit Therapeutics in a research report on Wednesday, January 14th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $40.00 price target on shares of Summit Therapeutics in a report on Friday, January 30th. Finally, Summit Redstone set a $18.00 price target on Summit Therapeutics in a research report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.25.

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.