Profund Advisors LLC Raises Holdings in Summit Therapeutics PLC $SMMT

Profund Advisors LLC increased its position in Summit Therapeutics PLC (NASDAQ:SMMT) by 48.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 103,761 shares of the company’s stock after acquiring an additional 33,828 shares during the quarter. Profund Advisors LLC’s holdings in Summit Therapeutics were worth $1,815,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC purchased a new stake in Summit Therapeutics during the third quarter valued at about $39,000. SG Americas Securities LLC purchased a new position in shares of Summit Therapeutics in the third quarter worth about $106,000. Quantbot Technologies LP purchased a new position in shares of Summit Therapeutics in the second quarter worth about $132,000. California State Teachers Retirement System raised its position in shares of Summit Therapeutics by 62.3% in the second quarter. California State Teachers Retirement System now owns 7,368 shares of the company’s stock valued at $157,000 after purchasing an additional 2,828 shares during the period. Finally, Amalgamated Bank raised its position in shares of Summit Therapeutics by 7.7% in the third quarter. Amalgamated Bank now owns 8,552 shares of the company’s stock valued at $177,000 after purchasing an additional 609 shares during the period. 4.61% of the stock is currently owned by institutional investors.

Summit Therapeutics Trading Up 12.9%

Shares of NASDAQ:SMMT opened at $17.89 on Thursday. The company has a 50 day moving average of $18.89 and a 200 day moving average of $17.62. The stock has a market cap of $13.89 billion, a P/E ratio of -11.18 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 posted its earnings results on Thursday, April 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.03. On average, equities analysts forecast that Summit Therapeutics PLC will post -1.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SMMT has been the subject of several analyst reports. Stifel Nicolaus started coverage on shares of Summit Therapeutics in a report on Wednesday, April 8th. They issued a “buy” rating and a $45.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Summit Therapeutics in a report on Tuesday, April 21st. Jefferies Financial Group lowered Summit Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the stock from $42.00 to $15.00 in a report on Monday, March 16th. Citigroup assumed coverage on Summit Therapeutics in a research report on Wednesday, April 8th. They issued a “buy” rating for the company. Finally, Zacks Research upgraded Summit Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.58.

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.