Citigroup Inc. Boosts Stock Position in Summit Therapeutics PLC $SMMT

Citigroup Inc. increased its holdings in Summit Therapeutics PLC (NASDAQ:SMMT) by 41.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 159,873 shares of the company’s stock after purchasing an additional 46,535 shares during the period. Citigroup Inc.’s holdings in Summit Therapeutics were worth $3,303,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Crowley Wealth Management Inc. increased its holdings in shares of Summit Therapeutics by 66.7% in the 3rd quarter. Crowley Wealth Management Inc. now owns 1,500 shares of the company’s stock worth $31,000 after buying an additional 600 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Summit Therapeutics by 34.1% in 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 in the last quarter. PNC Financial Services Group Inc. increased its stake in Summit Therapeutics by 325.5% during the second quarter. PNC Financial Services Group Inc. now owns 2,638 shares of the company’s stock worth $56,000 after acquiring an additional 2,018 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Summit Therapeutics during the third quarter valued at approximately $106,000. Finally, Quantbot Technologies LP bought a new stake in shares of Summit Therapeutics in the 2nd quarter valued at approximately $132,000. Institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Trading Down 2.9%

Shares of NASDAQ SMMT opened at $14.94 on Friday. The company has a 50 day simple moving average of $16.29 and a two-hundred day simple moving average of $18.67. The stock has a market cap of $11.58 billion, a price-to-earnings ratio of -10.30 and a beta of -1.43. Summit Therapeutics PLC has a 12 month low of $13.83 and a 12 month high of $36.91.

Summit Therapeutics (NASDAQ:SMMT) last issued its earnings results on Monday, February 23rd. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.07). Analysts forecast that Summit Therapeutics PLC will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SMMT shares. Wolfe Research assumed coverage on Summit Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Citigroup reiterated a “buy” rating on shares of Summit Therapeutics in a research report on Tuesday, February 24th. HC Wainwright reduced their price objective on shares of Summit Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Summit Redstone set a $18.00 target price on Summit Therapeutics in a research report on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Summit Therapeutics in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.25.

Summit Therapeutics 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.