Millennium Management LLC Has $299,000 Position in SUMMIT THERAPEU/S (SMMT)
Millennium Management LLC lowered its position in shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) by 76.8% during the first quarter, Holdings Channel reports. The fund owned 23,178 shares of the company’s stock after selling 76,695 shares during the quarter. Millennium Management LLC’s holdings in SUMMIT THERAPEU/S were worth $299,000 at the end of the most recent quarter.
Separately, Renaissance Technologies LLC boosted its position in SUMMIT THERAPEU/S by 15.4% during the fourth quarter. Renaissance Technologies LLC now owns 116,600 shares of the company’s stock worth $1,292,000 after acquiring an additional 15,600 shares during the last quarter. 30.08% of the stock is currently owned by institutional investors.
SMMT has been the topic of a number of analyst reports. Canaccord Genuity restated a “buy” rating and set a $28.00 target price on shares of SUMMIT THERAPEU/S in a research report on Tuesday, June 12th. HC Wainwright set a $20.00 target price on shares of SUMMIT THERAPEU/S and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Zacks Investment Research lowered shares of SUMMIT THERAPEU/S from a “buy” rating to a “hold” rating in a research report on Saturday. ValuEngine upgraded shares of SUMMIT THERAPEU/S from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, SunTrust Banks lowered shares of SUMMIT THERAPEU/S from a “buy” rating to a “hold” rating and decreased their target price for the stock from $22.00 to $4.00 in a research report on Wednesday, June 27th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $14.63.
SUMMIT THERAPEU/S (NASDAQ:SMMT) last announced its quarterly earnings results on Tuesday, June 5th. The company reported ($0.55) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.76) by $0.21. The company had revenue of $5.33 million for the quarter, compared to analyst estimates of $6.48 million. SUMMIT THERAPEU/S had a negative net margin of 33.36% and a negative return on equity of 105.24%. equities research analysts expect that SUMMIT THERAPEU/S will post -1.67 earnings per share for the current year.
SUMMIT THERAPEU/S Company Profile
Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat rare and infectious diseases in the United Kingdom and North America. It is conducting clinical programmes focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).
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