Northern Trust Corp Has $16.27 Million Stake in Summit Therapeutics PLC $SMMT

Northern Trust Corp reduced its holdings in Summit Therapeutics PLC (NASDAQ:SMMT) by 3.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 843,650 shares of the company’s stock after selling 27,752 shares during the quarter. Northern Trust Corp owned approximately 0.11% of Summit Therapeutics worth $16,274,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in Summit Therapeutics during the 4th quarter valued at $8,801,000. Nuveen LLC bought a new stake in shares of Summit Therapeutics during the first quarter worth $4,550,000. Neo Ivy Capital Management acquired a new stake in shares of Summit Therapeutics in the fourth quarter valued at $3,739,000. Rafferty Asset Management LLC raised its holdings in shares of Summit Therapeutics by 187.8% in the fourth quarter. Rafferty Asset Management LLC now owns 311,692 shares of the company’s stock valued at $5,562,000 after buying an additional 203,377 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Summit Therapeutics by 61.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 476,814 shares of the company’s stock valued at $8,509,000 after buying an additional 181,185 shares during the last quarter. 4.61% of the stock is currently owned by institutional investors.

Summit Therapeutics Stock Performance

SMMT opened at $23.84 on Wednesday. The company has a fifty day moving average price of $25.65 and a two-hundred day moving average price of $23.14. The firm has a market capitalization of $17.71 billion, a PE ratio of -23.60 and a beta of -1.02. Summit Therapeutics PLC has a 52 week low of $11.76 and a 52 week high of $36.91.

Summit Therapeutics (NASDAQ:SMMT) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.66). Equities analysts forecast that Summit Therapeutics PLC will post -0.3 EPS for the current year.

Analyst Ratings Changes

SMMT has been the topic of a number of research analyst reports. Leerink Partnrs raised shares of Summit Therapeutics to a “strong sell” rating in a report on Wednesday, June 11th. Zacks Research lowered shares of Summit Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 14th. UBS Group initiated coverage on shares of Summit Therapeutics in a research note on Tuesday, July 1st. They set a “buy” rating and a $30.00 price target on the stock. Evercore ISI boosted their price objective on shares of Summit Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Finally, Summit Redstone set a $21.00 price objective on Summit Therapeutics in a report on Tuesday, August 19th. One equities research 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.31.

Summit Therapeutics Company 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.