XTX Topco Ltd Makes New $925,000 Investment in Summit Therapeutics PLC $SMMT

XTX Topco Ltd purchased a new stake in shares of Summit Therapeutics PLC (NASDAQ:SMMT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 43,448 shares of the company’s stock, valued at approximately $925,000.

Several other institutional investors have also recently made changes to their positions in the business. CWM LLC increased its holdings in Summit Therapeutics by 3,455.3% during the first quarter. CWM LLC now owns 1,671 shares of the company’s stock valued at $32,000 after buying an additional 1,624 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Summit Therapeutics in the 1st quarter worth $308,000. Nuveen LLC purchased a new stake in shares of Summit Therapeutics in the 1st quarter worth $4,550,000. Russell Investments Group Ltd. raised its holdings in Summit Therapeutics by 204.3% in the 1st quarter. Russell Investments Group Ltd. now owns 211,004 shares of the company’s stock worth $4,070,000 after purchasing an additional 141,664 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in Summit Therapeutics during the first quarter valued at $3,000,000. Institutional investors own 4.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wolfe Research assumed coverage on Summit Therapeutics in a research note on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Guggenheim restated a “buy” rating and set a $40.00 target price on shares of Summit Therapeutics in a research note on Wednesday, October 22nd. Barclays lifted their price target on shares of Summit Therapeutics from $13.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, October 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Summit Therapeutics in a research note on Monday, September 8th. Finally, Piper Sandler initiated coverage on shares of Summit Therapeutics in a research report on Monday, August 18th. They set a “neutral” rating and a $21.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.14.

Summit Therapeutics Stock Performance

Shares of NASDAQ:SMMT opened at $17.90 on Monday. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of -14.43 and a beta of -1.21. The firm has a fifty day moving average price of $19.45 and a 200 day moving average price of $22.21. Summit Therapeutics PLC has a fifty-two week low of $15.55 and a fifty-two week high of $36.91.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings results on Monday, October 20th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.17). As a group, research analysts predict that Summit Therapeutics PLC will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Summit Therapeutics

In other news, CEO Mahkam Zanganeh bought 333,394 shares of the stock in a transaction dated Wednesday, September 10th. The stock was purchased at an average cost of $17.68 per share, for a total transaction of $5,894,405.92. Following the transaction, the chief executive officer owned 556,088,090 shares of the company’s stock, valued at $9,831,637,431.20. The trade was a 0.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert W. Duggan bought 333,394 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was acquired at an average cost of $17.68 per share, with a total value of $5,894,405.92. Following the completion of the acquisition, the chief executive officer owned 556,088,090 shares of the company’s stock, valued at $9,831,637,431.20. This represents a 0.06% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 1,263,765 shares of company stock worth $22,969,461 in the last quarter. 84.90% of the stock is owned by corporate insiders.

Summit Therapeutics Company Profile

Summit Therapeutics Inc, a biopharmaceutical company, focuses on discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies in the United States, and the United Kingdom. The company’s lead development candidate is Ivonescimab, a bispecific antibody for immunotherapy through blockade of PD-1 with the anti-angiogenesis; and anti-infectives portfolio includes SMT-738, a novel class of precision antibiotics for the treatment of multidrug resistant infections, which primarily includes carbapenem-resistant Enterobacteriaceae infections.