Illinois Municipal Retirement Fund Increases Stake in Summit Therapeutics PLC $SMMT

Illinois Municipal Retirement Fund increased its stake in Summit Therapeutics PLC (NASDAQ:SMMT) by 121.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,673 shares of the company’s stock after acquiring an additional 37,611 shares during the period. Illinois Municipal Retirement Fund’s holdings in Summit Therapeutics were worth $1,419,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Farther Finance Advisors LLC acquired a new stake in Summit Therapeutics during the 3rd quarter worth approximately $1,141,000. New York State Common Retirement Fund grew its stake in Summit Therapeutics by 774.5% during the second quarter. New York State Common Retirement Fund now owns 256,890 shares of the company’s stock worth $5,467,000 after buying an additional 227,513 shares during the period. APEIRON CAPITAL Ltd increased its position in shares of Summit Therapeutics by 9.2% in the third quarter. APEIRON CAPITAL Ltd now owns 1,310,941 shares of the company’s stock worth $27,084,000 after acquiring an additional 110,000 shares in the last quarter. Norges Bank purchased a new position in shares of Summit Therapeutics in the 2nd quarter valued at $29,576,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Summit Therapeutics by 194.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 97,502 shares of the company’s stock valued at $2,075,000 after acquiring an additional 64,432 shares in the last quarter. Institutional investors and hedge funds own 4.61% of the company’s stock.

Summit Therapeutics Trading Up 4.8%

SMMT stock opened at $15.68 on Wednesday. The firm has a 50 day simple moving average of $16.76 and a 200-day simple moving average of $19.56. The company has a market capitalization of $12.09 billion, a P/E ratio of -12.65 and a beta of -1.44. Summit Therapeutics PLC has a twelve month low of $13.83 and a twelve month high of $36.91.

Wall Street Analyst Weigh In

Several research firms have commented on SMMT. Citizens Jmp reissued a “market outperform” rating and issued a $40.00 price objective on shares of Summit Therapeutics in a research report on Friday, January 30th. Guggenheim reiterated a “buy” rating and set a $40.00 target price on shares of Summit Therapeutics in a report on Wednesday, October 22nd. HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Summit Therapeutics in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Summit Therapeutics in a research report on Thursday, January 22nd. Finally, Summit Redstone set a $18.00 price objective on shares of Summit Therapeutics in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Summit Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $33.08.

Summit Therapeutics Company Profile

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.