Candriam S.C.A. Sells 4,033 Shares of Summit Therapeutics PLC $SMMT

Candriam S.C.A. lessened its holdings in Summit Therapeutics PLC (NASDAQ:SMMT) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 838,518 shares of the company’s stock after selling 4,033 shares during the quarter. Candriam S.C.A. owned 0.11% of Summit Therapeutics worth $16,175,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC increased its position in shares of Summit Therapeutics by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,502 shares of the company’s stock worth $29,000 after purchasing an additional 751 shares during the period. CWM LLC increased its position in shares of Summit Therapeutics by 3,455.3% in the first quarter. CWM LLC now owns 1,671 shares of the company’s stock worth $32,000 after purchasing an additional 1,624 shares during the period. Fifth Third Bancorp increased its position in shares of Summit Therapeutics by 1,400.0% in the first quarter. Fifth Third Bancorp now owns 3,000 shares of the company’s stock worth $58,000 after purchasing an additional 2,800 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Summit Therapeutics by 11.4% in the first quarter. Exchange Traded Concepts LLC now owns 6,328 shares of the company’s stock worth $122,000 after purchasing an additional 647 shares during the period. Finally, Summit Investment Advisors Inc. lifted its position in shares of Summit Therapeutics by 12.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,621 shares of the company’s stock worth $172,000 after buying an additional 1,044 shares during the last quarter. Institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Price Performance

Shares of SMMT opened at $25.87 on Thursday. Summit Therapeutics PLC has a 1 year low of $11.76 and a 1 year high of $36.91. The company has a market capitalization of $19.22 billion, a price-to-earnings ratio of -25.61 and a beta of -1.06. The business has a 50-day moving average of $24.77 and a 200-day moving average of $22.84.

Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.66). As a group, sell-side analysts anticipate that Summit Therapeutics PLC will post -0.3 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on SMMT shares. Summit Redstone set a $21.00 price objective on Summit Therapeutics in a research report on Tuesday. Leerink Partners started coverage on Summit Therapeutics in a research report on Wednesday, June 11th. They set an “underperform” rating and a $12.00 price objective for the company. JMP Securities restated a “market outperform” rating and set a $40.00 price objective on shares of Summit Therapeutics in a research report on Tuesday. HC Wainwright restated a “buy” rating and set a $44.00 price objective on shares of Summit Therapeutics in a research report on Friday, August 15th. Finally, Zacks Research downgraded Summit Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.85.

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.