UBS Group AG Has $15.23 Million Stock Holdings in Summit Therapeutics PLC $SMMT

UBS Group AG decreased its position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) by 36.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 870,719 shares of the company’s stock after selling 493,064 shares during the quarter. UBS Group AG owned approximately 0.11% of Summit Therapeutics worth $15,229,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SMMT. Parallel Advisors LLC acquired a new position in Summit Therapeutics during the 3rd quarter worth $39,000. SG Americas Securities LLC acquired a new position in Summit Therapeutics during the 3rd quarter worth $106,000. Quantbot Technologies LP acquired a new position in Summit Therapeutics during the 2nd quarter worth $132,000. California State Teachers Retirement System lifted its holdings in Summit Therapeutics by 62.3% during the 2nd quarter. California State Teachers Retirement System now owns 7,368 shares of the company’s stock worth $157,000 after buying an additional 2,828 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in Summit Therapeutics by 7.7% during the 3rd quarter. Amalgamated Bank now owns 8,552 shares of the company’s stock worth $177,000 after buying an additional 609 shares in the last quarter. Institutional investors and hedge funds own 4.61% of the company’s stock.

Analysts Set New Price Targets

SMMT has been the topic of a number of analyst reports. Zacks Research raised Summit Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Wall Street Zen raised Summit Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday. Citizens Jmp reissued a “market outperform” rating and issued a $40.00 price target on shares of Summit Therapeutics in a research note on Friday, January 30th. Stifel Nicolaus initiated coverage on Summit Therapeutics in a research note on Wednesday, April 8th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Citigroup initiated coverage on Summit Therapeutics in a research note on Wednesday, April 8th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Summit Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $27.58.

Summit Therapeutics Stock Down 0.8%

SMMT opened at $18.79 on Thursday. The company has a fifty day simple moving average of $18.72 and a 200 day simple moving average of $17.70. The stock has a market cap of $14.58 billion, a P/E ratio of -11.74 and a beta of -1.25. Summit Therapeutics PLC has a 12 month low of $13.83 and a 12 month high of $30.98.

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

About Summit Therapeutics

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.