Summit Therapeutics PLC (NASDAQ:SMMT) Shares Sold by JGP Global Gestao de Recursos Ltda.

JGP Global Gestao de Recursos Ltda. lowered its position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) by 10.0% in the first quarter, HoldingsChannel.com reports. The firm owned 15,366 shares of the company’s stock after selling 1,714 shares during the quarter. Summit Therapeutics comprises 0.2% of JGP Global Gestao de Recursos Ltda.’s holdings, making the stock its 24th largest position. JGP Global Gestao de Recursos Ltda.’s holdings in Summit Therapeutics were worth $296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SMMT. Price T Rowe Associates Inc. MD grew its stake in shares of Summit Therapeutics by 20.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,557,927 shares of the company’s stock worth $116,995,000 after purchasing an additional 1,118,270 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Summit Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 11,670,576 shares of the company’s stock worth $208,261,000 after purchasing an additional 724,040 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Summit Therapeutics during the fourth quarter worth $8,801,000. Invesco Ltd. grew its stake in shares of Summit Therapeutics by 435.7% during the fourth quarter. Invesco Ltd. now owns 399,050 shares of the company’s stock worth $7,121,000 after purchasing an additional 324,555 shares in the last quarter. Finally, Boxer Capital Management LLC acquired a new position in shares of Summit Therapeutics during the fourth quarter worth $4,461,000. Institutional investors and hedge funds own 4.61% of the company’s stock.

Summit Therapeutics Stock Performance

Shares of NASDAQ:SMMT opened at $27.07 on Monday. The company has a 50-day simple moving average of $23.35 and a 200-day simple moving average of $22.38. Summit Therapeutics PLC has a one year low of $8.88 and a one year high of $36.91. The stock has a market capitalization of $20.10 billion, a price-to-earnings ratio of -79.62 and a beta of -1.06.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. As a group, research analysts forecast that Summit Therapeutics PLC will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on SMMT. Cantor Fitzgerald reiterated an “overweight” rating on shares of Summit Therapeutics in a research note on Wednesday, April 23rd. JMP Securities restated a “market outperform” rating and issued a $40.00 price objective on shares of Summit Therapeutics in a research note on Monday, June 2nd. Leerink Partnrs upgraded shares of Summit Therapeutics to a “strong sell” rating in a research note on Wednesday, June 11th. Wall Street Zen upgraded shares of Summit Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 29th. Finally, The Goldman Sachs Group upped their price objective on shares of Summit Therapeutics from $37.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.67.

About Summit Therapeutics

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.