Summit Therapeutics PLC $SMMT Stock Position Lifted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) by 121.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 68,673 shares of the company’s stock after acquiring an additional 37,611 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Summit Therapeutics were worth $1,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. raised its stake in 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 acquiring an additional 600 shares during the period. SBI Securities Co. Ltd. raised its position in shares of Summit Therapeutics by 34.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,756 shares of the company’s stock worth $37,000 after purchasing an additional 447 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Summit Therapeutics by 325.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,638 shares of the company’s stock worth $56,000 after purchasing an additional 2,018 shares during the last quarter. SG Americas Securities LLC acquired a new position in Summit Therapeutics during the 3rd quarter valued at approximately $106,000. Finally, AlphaQuest LLC grew its stake in Summit Therapeutics by 131.7% during the 2nd quarter. AlphaQuest LLC now owns 5,891 shares of the company’s stock worth $125,000 after buying an additional 3,349 shares during the last quarter. 4.61% of the stock is currently owned by institutional investors.

Summit Therapeutics Price Performance

SMMT opened at $15.68 on Wednesday. The business has a 50 day moving average price of $16.76 and a two-hundred day moving average price of $19.56. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of -12.65 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.

Analyst Upgrades and Downgrades

SMMT has been the topic of a number of recent research reports. Summit Redstone set a $18.00 target price on Summit Therapeutics in a research note on Wednesday, December 17th. Citigroup reiterated a “market outperform” rating on shares of Summit Therapeutics in a research report on Friday, January 30th. Citizens Jmp reissued a “market outperform” rating and set a $40.00 target price on shares of Summit Therapeutics in a research note on Friday, January 30th. Guggenheim restated a “buy” rating and issued a $40.00 price target on shares of Summit Therapeutics in a research note on Wednesday, October 22nd. Finally, Wolfe Research started coverage on Summit Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

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.