Cwm LLC Increases Position in Summit Therapeutics PLC (NASDAQ:SMMT)

Cwm LLC raised its holdings in Summit Therapeutics PLC (NASDAQ:SMMT) by 3,455.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,671 shares of the company’s stock after acquiring an additional 1,624 shares during the period. Cwm LLC’s holdings in Summit Therapeutics were worth $32,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN boosted its position in shares of Summit Therapeutics by 79.2% during the 4th quarter. Wells Fargo & Company MN now owns 95,265 shares of the company’s stock valued at $1,700,000 after acquiring an additional 42,090 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Summit Therapeutics by 358.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 205,337 shares of the company’s stock worth $3,664,000 after purchasing an additional 160,592 shares during the period. Bank of America Corp DE raised its stake in Summit Therapeutics by 10.5% during the fourth quarter. Bank of America Corp DE now owns 431,568 shares of the company’s stock worth $7,701,000 after purchasing an additional 40,908 shares during the period. BNP Paribas Financial Markets acquired a new position in Summit Therapeutics in the 4th quarter valued at about $8,801,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of Summit Therapeutics by 12.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,610 shares of the company’s stock valued at $340,000 after buying an additional 1,894 shares during the period. 4.61% of the stock is owned by hedge funds and other institutional investors.

Summit Therapeutics Price Performance

Shares of SMMT opened at $29.32 on Tuesday. Summit Therapeutics PLC has a 1-year low of $8.88 and a 1-year high of $36.91. The stock has a market cap of $21.78 billion, a PE ratio of -86.23 and a beta of -1.06. The firm has a fifty day moving average price of $23.41 and a 200 day moving average price of $22.45.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SMMT shares. Cantor Fitzgerald restated an “overweight” rating on shares of Summit Therapeutics in a report on Wednesday, April 23rd. Leerink Partners assumed coverage on Summit Therapeutics in a research note on Wednesday, June 11th. They set an “underperform” rating and a $12.00 target price for the company. UBS Group began coverage on Summit Therapeutics in a research report on Tuesday, July 1st. They issued a “buy” rating and a $30.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $44.00 price target on shares of Summit Therapeutics in a research note on Tuesday, July 1st. Finally, Leerink Partnrs raised Summit Therapeutics to a “strong sell” rating in a research report on Wednesday, June 11th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Summit Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $34.67.

Summit Therapeutics Profile

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.