SG Americas Securities LLC Has $1.01 Million Stock Holdings in Summit Therapeutics PLC $SMMT

SG Americas Securities LLC lifted its holdings in Summit Therapeutics PLC (NASDAQ:SMMT) by 243.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 53,523 shares of the company’s stock after purchasing an additional 37,934 shares during the quarter. SG Americas Securities LLC’s holdings in Summit Therapeutics were worth $1,015,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Kestra Advisory Services LLC bought a new stake in Summit Therapeutics during the 4th quarter worth about $28,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Summit Therapeutics by 2,654.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,873 shares of the company’s stock worth $33,000 after acquiring an additional 1,805 shares during the last quarter. Parallel Advisors LLC bought a new position in shares of Summit Therapeutics in the third quarter worth about $39,000. Truvestments Capital LLC lifted its position in shares of Summit Therapeutics by 200.2% during the fourth quarter. Truvestments Capital LLC now owns 2,603 shares of the company’s stock worth $46,000 after purchasing an additional 1,736 shares in the last quarter. Finally, Havemeyer Place LP acquired a new position in shares of Summit Therapeutics during the fourth quarter worth approximately $109,000. Institutional investors and hedge funds own 4.61% of the company’s stock.

Summit Therapeutics Price Performance

Shares of NASDAQ:SMMT opened at $15.42 on Friday. Summit Therapeutics PLC has a one year low of $12.55 and a one year high of $30.98. The company has a 50 day moving average of $16.41 and a 200-day moving average of $16.98. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of -9.64 and a beta of -1.26.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings data on Friday, May 1st. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.03. Equities research analysts anticipate that Summit Therapeutics PLC will post -1.18 earnings per share for the current year.

Insider Buying and Selling at Summit Therapeutics

In related news, CEO Mahkam Zanganeh purchased 3,810,000 shares of Summit Therapeutics stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $13.12 per share, for a total transaction of $49,987,200.00. Following the transaction, the chief executive officer directly owned 573,883,879 shares of the company’s stock, valued at approximately $7,529,356,492.48. This trade represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Manmeet Singh Soni purchased 50,000 shares of Summit Therapeutics stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $14.45 per share, for a total transaction of $722,500.00. Following the completion of the transaction, the chief financial officer directly owned 3,123,603 shares in the company, valued at $45,136,063.35. The trade was a 1.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 7,870,000 shares of company stock worth $103,616,900. Insiders own 83.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SMMT has been the subject of a number of research reports. Piper Sandler lowered their price target on shares of Summit Therapeutics from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Summit Therapeutics in a report on Tuesday, April 21st. Truist Financial upgraded Summit Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Sanford C. Bernstein started coverage on Summit Therapeutics in a research note on Thursday, May 21st. They issued an “underperform” rating and a $7.70 target price for the company. Finally, Stifel Nicolaus initiated coverage on Summit Therapeutics in a research note on Wednesday, April 8th. They set a “buy” rating and a $45.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Summit Therapeutics has a consensus rating of “Hold” and an average price target of $26.97.

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.