AXQ Capital LP Raises Holdings in Summit Therapeutics PLC $SMMT

AXQ Capital LP grew its position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) by 366.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 81,519 shares of the company’s stock after purchasing an additional 64,051 shares during the quarter. AXQ Capital LP’s holdings in Summit Therapeutics were worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new position in shares of Summit Therapeutics during the 3rd quarter valued at $7,174,000. Vanguard Group Inc. lifted its position in shares of Summit Therapeutics by 31.2% during the 3rd quarter. Vanguard Group Inc. now owns 11,379,728 shares of the company’s stock valued at $235,105,000 after buying an additional 2,706,056 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Summit Therapeutics during the 3rd quarter valued at $1,341,000. Assenagon Asset Management S.A. bought a new stake in shares of Summit Therapeutics during the 4th quarter valued at $1,043,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Summit Therapeutics by 409.2% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 338,363 shares of the company’s stock valued at $6,991,000 after purchasing an additional 271,912 shares during the period. Hedge funds and other institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Price Performance

SMMT opened at $15.71 on Tuesday. The stock’s 50 day simple moving average is $19.06 and its 200 day simple moving average is $17.54. Summit Therapeutics PLC has a 1 year low of $13.83 and a 1 year high of $30.98. The firm has a market cap of $12.19 billion, a price-to-earnings ratio of -9.82 and a beta of -1.32.

Summit Therapeutics (NASDAQ:SMMT) last posted its quarterly earnings results on Friday, May 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.03. As a group, sell-side analysts anticipate that Summit Therapeutics PLC will post -1.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SMMT shares. HC Wainwright lowered Summit Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 22nd. Jefferies Financial Group lowered Summit Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the company from $42.00 to $15.00 in a research note on Monday, March 16th. KeyCorp reiterated an “overweight” rating on shares of Summit Therapeutics in a research note on Monday. Truist Financial upgraded Summit Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Piper Sandler decreased their price objective on shares of Summit Therapeutics from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Summit Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $26.05.

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.