Skandinaviska Enskilda Banken AB publ Buys 271,912 Shares of Summit Therapeutics PLC $SMMT

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Summit Therapeutics PLC (NASDAQ:SMMT) by 409.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 338,363 shares of the company’s stock after acquiring an additional 271,912 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Summit Therapeutics were worth $6,991,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SMMT. Vanguard Group Inc. lifted its holdings in Summit Therapeutics by 31.2% in the 3rd quarter. Vanguard Group Inc. now owns 11,379,728 shares of the company’s stock worth $235,105,000 after purchasing an additional 2,706,056 shares during the last quarter. Norges Bank bought a new position in shares of Summit Therapeutics in the second quarter valued at approximately $29,576,000. APEIRON CAPITAL Ltd lifted its stake in shares of Summit Therapeutics by 9.2% in the third quarter. APEIRON CAPITAL Ltd now owns 1,310,941 shares of the company’s stock worth $27,084,000 after buying an additional 110,000 shares during the last quarter. Fiera Capital Corp acquired a new stake in shares of Summit Therapeutics in the second quarter worth $16,659,000. Finally, Bank of America Corp DE boosted its holdings in shares of Summit Therapeutics by 53.3% during the 2nd quarter. Bank of America Corp DE now owns 566,147 shares of the company’s stock worth $12,048,000 after buying an additional 196,925 shares during the period. 4.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SMMT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Summit Therapeutics in a report on Thursday, January 22nd. Barclays upgraded Summit Therapeutics from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $16.00 to $18.00 in a research note on Wednesday, December 17th. Zacks Research downgraded Summit Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 4th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Summit Therapeutics in a research report on Monday, February 2nd. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $40.00 price objective on shares of Summit Therapeutics in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Summit Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

Summit Therapeutics Trading Down 0.1%

Shares of SMMT stock opened at $15.87 on Friday. Summit Therapeutics PLC has a 12 month low of $13.83 and a 12 month high of $36.91. The company has a market capitalization of $12.24 billion, a P/E ratio of -12.80 and a beta of -1.44. The stock has a 50 day moving average of $16.67 and a two-hundred day moving average of $19.50.

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.