Jefferies Financial Group Inc. Has $1.75 Million Stake in Summit Therapeutics PLC $SMMT

Jefferies Financial Group Inc. lifted its stake in shares of Summit Therapeutics PLC (NASDAQ:SMMT) by 566.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the company’s stock after purchasing an additional 85,000 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Summit Therapeutics were worth $1,749,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Summit Therapeutics by 31.2% during the third quarter. Vanguard Group Inc. now owns 11,379,728 shares of the company’s stock valued at $235,105,000 after buying an additional 2,706,056 shares during the last quarter. Bank of America Corp DE boosted its stake in Summit Therapeutics by 16.1% in the 3rd quarter. Bank of America Corp DE now owns 657,313 shares of the company’s stock worth $13,580,000 after purchasing an additional 91,166 shares during the period. TD Asset Management Inc increased its stake in Summit Therapeutics by 11.1% in the 3rd quarter. TD Asset Management Inc now owns 537,530 shares of the company’s stock worth $11,105,000 after acquiring an additional 53,520 shares during the last quarter. Barclays PLC grew its stake in Summit Therapeutics by 51.6% in the 3rd quarter. Barclays PLC now owns 475,777 shares of the company’s stock worth $9,830,000 after buying an additional 161,953 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Summit Therapeutics by 0.5% during the third quarter. Invesco Ltd. now owns 426,075 shares of the company’s stock worth $8,803,000 after purchasing an additional 2,048 shares during the last quarter. 4.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SMMT has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Summit Therapeutics in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of Summit Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, May 18th. 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 research report on Friday, May 1st. Truist Financial upgraded Summit Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Summit Therapeutics in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $26.05.

Summit Therapeutics Trading Up 2.1%

SMMT opened at $17.36 on Thursday. The stock has a fifty day moving average price of $18.99 and a 200-day moving average price of $17.58. Summit Therapeutics PLC has a 12 month low of $13.83 and a 12 month high of $30.98. The firm has a market cap of $13.47 billion, a price-to-earnings ratio of -10.85 and a beta of -1.25.

Summit Therapeutics (NASDAQ:SMMT) last announced its earnings results on Thursday, April 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.03. On average, equities research analysts forecast that Summit Therapeutics PLC will post -1.17 EPS for the current year.

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.