SG Americas Securities LLC Has $1.01 Million Stock Position in Summit Therapeutics PLC $SMMT

SG Americas Securities LLC boosted its holdings in Summit Therapeutics PLC (NASDAQ:SMMT) by 243.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,523 shares of the company’s stock after buying an additional 37,934 shares during the period. SG Americas Securities LLC’s holdings in Summit Therapeutics were worth $1,015,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new position in Summit Therapeutics during the third quarter worth $7,174,000. Baker BROS. Advisors LP boosted its holdings in Summit Therapeutics by 7.9% in the 4th quarter. Baker BROS. Advisors LP now owns 36,391,063 shares of the company’s stock valued at $636,480,000 after purchasing an additional 2,668,089 shares during the period. WINTON GROUP Ltd acquired a new stake in Summit Therapeutics in the 3rd quarter worth $1,341,000. Assenagon Asset Management S.A. bought a new position in shares of Summit Therapeutics during the 4th quarter worth about $1,043,000. Finally, TD Asset Management Inc increased its holdings in shares of Summit Therapeutics by 124.2% during the 4th quarter. TD Asset Management Inc now owns 1,205,272 shares of the company’s stock worth $21,080,000 after purchasing an additional 667,742 shares during the period. 4.61% of the stock is currently owned by institutional investors and hedge funds.

Summit Therapeutics Stock Performance

Shares of NASDAQ SMMT opened at $15.42 on Friday. Summit Therapeutics PLC has a 52-week low of $12.55 and a 52-week high of $30.98. The business has a fifty day moving average of $16.41 and a two-hundred day moving average of $16.98. The stock has a market cap of $11.97 billion, a PE ratio of -9.64 and a beta of -1.26.

Summit Therapeutics (NASDAQ:SMMT) last posted its earnings results on Friday, May 1st. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.03. Analysts predict that Summit Therapeutics PLC will post -1.18 earnings per share for the current year.

Insider Buying and Selling at Summit Therapeutics

In other news, CEO Mahkam Zanganeh purchased 3,810,000 shares of Summit Therapeutics stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of $13.12 per share, for a total transaction of $49,987,200.00. Following the completion of the transaction, the chief executive officer directly owned 573,883,879 shares in the company, valued at approximately $7,529,356,492.48. This represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert W. Duggan acquired 3,810,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of $13.12 per share, for a total transaction of $49,987,200.00. Following the completion of the purchase, the chief executive officer directly owned 573,883,879 shares of the company’s stock, valued at approximately $7,529,356,492.48. The trade was a 0.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 7,870,000 shares of company stock worth $103,616,900 over the last ninety days. Corporate insiders own 83.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SMMT has been the subject of several research reports. Truist Financial upgraded shares of Summit Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Piper Sandler cut their price target on Summit Therapeutics from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Citigroup assumed coverage on Summit Therapeutics in a report on Wednesday, April 8th. They issued a “buy” rating for the company. Wall Street Zen raised Summit Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Finally, KeyCorp restated an “overweight” rating on shares of Summit Therapeutics in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.97.

About Summit Therapeutics

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.