Aberdeen Group plc Has $24.25 Million Holdings in Summit Therapeutics PLC $SMMT

by · The Markets Daily

Aberdeen Group plc lessened its holdings in shares of Summit Therapeutics PLC (NASDAQ:SMMT – Free Report) by 5.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,139,530 shares of the company’s stock after selling 61,280 shares during the period. Aberdeen Group plc’s holdings in Summit Therapeutics were worth $24,249,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SMMT. Siren L.L.C. acquired a new position in shares of Summit Therapeutics during the 1st quarter worth about $13,407,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Summit Therapeutics during the 1st quarter worth about $10,378,000. Cutter Capital Management LP acquired a new position in shares of Summit Therapeutics during the 1st quarter worth about $7,716,000. Rockland Trust Co. acquired a new position in shares of Summit Therapeutics during the 2nd quarter worth about $8,512,000. Finally, Nuveen LLC acquired a new position in shares of Summit Therapeutics during the 1st quarter worth about $4,550,000. Institutional investors and hedge funds own 4.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SMMT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Summit Therapeutics in a research report on Wednesday, October 8th. Guggenheim assumed coverage on Summit Therapeutics in a report on Wednesday, September 3rd. They issued a “buy” rating and a $40.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Summit Therapeutics in a report on Tuesday, September 16th. Citigroup reaffirmed a “buy” rating on shares of Summit Therapeutics in a report on Thursday, September 25th. Finally, Wall Street Zen cut Summit Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Summit Therapeutics has an average rating of “Hold” and a consensus price target of $31.29.

View Our Latest Analysis on SMMT

Insider Activity at Summit Therapeutics

In related news, CEO Mahkam Zanganeh acquired 5,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were bought at an average cost of $18.07 per share, for a total transaction of $90,350.00. Following the purchase, the chief executive officer owned 556,093,090 shares in the company, valued at approximately $10,048,602,136.30. This trade represents a 0.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert W. Duggan acquired 5,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was bought at an average price of $18.07 per share, for a total transaction of $90,350.00. Following the completion of the purchase, the chief executive officer owned 556,093,090 shares in the company, valued at approximately $10,048,602,136.30. This trade represents a 0.00% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 676,788 shares of company stock worth $11,969,512. Corporate insiders own 84.90% of the company’s stock.

Summit Therapeutics Trading Up 7.4%

SMMT stock opened at $22.93 on Tuesday. Summit Therapeutics PLC has a 1-year low of $15.55 and a 1-year high of $36.91. The firm has a market cap of $17.03 billion, a P/E ratio of -22.70 and a beta of -1.13. The business’s 50 day moving average is $23.02 and its 200-day moving average is $23.33.

Summit Therapeutics (NASDAQ:SMMT – Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.66). Sell-side analysts forecast that Summit Therapeutics PLC will post -0.3 EPS for the current year.

Summit Therapeutics Company Profile

(Free Report)

Summit Therapeutics Inc, a biopharmaceutical company, focuses on discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies in the United States, and the United Kingdom. The company’s lead development candidate is Ivonescimab, a bispecific antibody for immunotherapy through blockade of PD-1 with the anti-angiogenesis; and anti-infectives portfolio includes SMT-738, a novel class of precision antibiotics for the treatment of multidrug resistant infections, which primarily includes carbapenem-resistant Enterobacteriaceae infections.

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