Quantinno Capital Management LP Increases Position in Summit Therapeutics PLC $SMMT

Quantinno Capital Management LP boosted its holdings in Summit Therapeutics PLC (NASDAQ:SMMT) by 415.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 73,835 shares of the company’s stock after buying an additional 59,512 shares during the period. Quantinno Capital Management LP’s holdings in Summit Therapeutics were worth $1,400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SMMT. Ball & Co Wealth Management Inc. purchased a new position in Summit Therapeutics during the first quarter valued at $28,000. Kestra Advisory Services LLC bought a new stake in Summit Therapeutics in the 4th quarter valued at $28,000. T. Rowe Price Investment Management Inc. lifted its stake in Summit Therapeutics by 2,654.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,873 shares of the company’s stock worth $33,000 after purchasing an additional 1,805 shares in the last quarter. Parallel Advisors LLC purchased a new stake in Summit Therapeutics in the 3rd quarter worth $39,000. Finally, Truvestments Capital LLC boosted its holdings in shares of Summit Therapeutics by 200.2% during the 4th quarter. Truvestments Capital LLC now owns 2,603 shares of the company’s stock valued at $46,000 after purchasing an additional 1,736 shares during the last quarter. 4.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. KeyCorp restated an “overweight” rating on shares of Summit Therapeutics in a report on Monday, June 1st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Summit Therapeutics in a report on Friday, July 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Summit Therapeutics in a research report on Friday, July 17th. HC Wainwright reissued a “neutral” rating on shares of Summit Therapeutics in a report on Thursday, August 6th. Finally, Jefferies Financial Group set a $15.00 price target on shares of Summit Therapeutics in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $24.25.

Summit Therapeutics Trading Down 7.3%

SMMT stock opened at $14.00 on Friday. Summit Therapeutics PLC has a 12 month low of $12.25 and a 12 month high of $30.05. The company has a 50-day moving average price of $14.26 and a 200 day moving average price of $16.30. The stock has a market cap of $11.17 billion, a PE ratio of -12.50 and a beta of -1.23.

Summit Therapeutics (NASDAQ:SMMT) last released its earnings results on Thursday, July 23rd. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Sell-side analysts forecast that Summit Therapeutics PLC will post -1.2 EPS for the current year.

Insider Activity

In other Summit Therapeutics news, CEO Mahkam Zanganeh acquired 3,810,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average cost of $13.12 per share, for a total transaction of $49,987,200.00. Following the completion of the purchase, the chief executive officer owned 573,883,879 shares in the company, 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 document filed with the SEC, which can be accessed through this link. Also, CEO Robert W. Duggan acquired 3,810,000 shares of the business’s stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer owned 573,883,879 shares of the company’s stock, valued at $7,529,356,492.48. This trade represents a 0.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 7,870,000 shares of company stock worth $103,616,900. 83.50% of the stock is currently owned by corporate insiders.

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.