Summit Therapeutics PLC $SMMT Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its holdings in Summit Therapeutics PLC (NASDAQ:SMMT) by 204.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 211,004 shares of the company’s stock after buying an additional 141,664 shares during the quarter. Russell Investments Group Ltd.’s holdings in Summit Therapeutics were worth $4,070,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its position in Summit Therapeutics by 79.2% in the fourth quarter. Wells Fargo & Company MN now owns 95,265 shares of the company’s stock worth $1,700,000 after buying an additional 42,090 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Summit Therapeutics by 358.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 205,337 shares of the company’s stock worth $3,664,000 after purchasing an additional 160,592 shares in the last quarter. Bank of America Corp DE grew its position in Summit Therapeutics by 10.5% during the 4th quarter. Bank of America Corp DE now owns 431,568 shares of the company’s stock worth $7,701,000 after purchasing an additional 40,908 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Summit Therapeutics during the 4th quarter worth approximately $8,801,000. Finally, Janney Montgomery Scott LLC grew its position in Summit Therapeutics by 12.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,610 shares of the company’s stock worth $340,000 after purchasing an additional 1,894 shares in the last quarter. Institutional investors and hedge funds own 4.61% of the company’s stock.

Summit Therapeutics Trading Up 0.7%

SMMT stock opened at $26.20 on Friday. Summit Therapeutics PLC has a 1 year low of $11.76 and a 1 year high of $36.91. The company has a fifty day simple moving average of $25.02 and a 200 day simple moving average of $22.92. The firm has a market cap of $19.46 billion, a PE ratio of -25.94 and a beta of -1.06.

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

Analysts Set New Price Targets

SMMT has been the topic of several research analyst reports. Piper Sandler initiated coverage on shares of Summit Therapeutics in a report on Monday. They set a “neutral” rating and a $21.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $44.00 price target on shares of Summit Therapeutics in a report on Friday, August 15th. Leerink Partnrs upgraded shares of Summit Therapeutics to a “strong sell” rating in a report on Wednesday, June 11th. Summit Redstone set a $21.00 price target on shares of Summit Therapeutics in a report on Tuesday. Finally, Leerink Partners initiated coverage on shares of Summit Therapeutics in a report on Wednesday, June 11th. They set an “underperform” rating and a $12.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Summit Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.85.

About Summit Therapeutics

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.