Verde Servicos Internacionais S.A. Takes Position in Summit Therapeutics PLC $SMMT

Verde Servicos Internacionais S.A. bought a new position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 40,000 shares of the company’s stock, valued at approximately $826,000. Summit Therapeutics makes up approximately 0.2% of Verde Servicos Internacionais S.A.’s portfolio, making the stock its 25th largest position.

Other institutional investors also recently bought and sold shares of the company. Crowley Wealth Management Inc. lifted its position in shares of Summit Therapeutics by 66.7% during the third quarter. Crowley Wealth Management Inc. now owns 1,500 shares of the company’s stock worth $31,000 after purchasing an additional 600 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Summit Therapeutics by 34.1% during the second quarter. SBI Securities Co. Ltd. now owns 1,756 shares of the company’s stock worth $37,000 after acquiring an additional 447 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Summit Therapeutics by 325.5% in the second quarter. PNC Financial Services Group Inc. now owns 2,638 shares of the company’s stock valued at $56,000 after acquiring an additional 2,018 shares in the last quarter. IFP Advisors Inc boosted its holdings in Summit Therapeutics by 4,264.0% in the second quarter. IFP Advisors Inc now owns 4,364 shares of the company’s stock valued at $93,000 after purchasing an additional 4,264 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Summit Therapeutics during the 3rd quarter worth about $106,000. 4.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SMMT has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Summit Therapeutics in a research report on Monday, February 2nd. Wolfe Research started coverage on shares of Summit Therapeutics in a report on Tuesday, November 18th. They set a “peer perform” rating for the company. Guggenheim reissued a “buy” rating and issued a $40.00 price objective on shares of Summit Therapeutics in a research report on Wednesday, October 22nd. Zacks Research cut shares of Summit Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 4th. Finally, JMP Securities reiterated a “market outperform” rating and set a $40.00 target price on shares of Summit Therapeutics in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.62.

Summit Therapeutics Price Performance

NASDAQ SMMT opened at $15.25 on Thursday. The company has a fifty day moving average of $17.01 and a two-hundred day moving average of $19.94. The company has a market capitalization of $11.76 billion, a PE ratio of -12.30 and a beta of -1.44. Summit Therapeutics PLC has a 1 year low of $13.83 and a 1 year high of $36.91.

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.