Key Points
- Summit Therapeutics CFO Manmeet Singh Soni bought 50,000 shares on June 4 at an average price of $14.45, spending about $722,500. After the purchase, he held 3.12 million shares valued at roughly $45.1 million.
- The stock has been volatile and remains well below its 52-week high, opening at $14.84 versus a 52-week range of $13.83 to $30.98. The company’s market cap is about $11.52 billion.
- Analyst views are mixed, with ratings ranging from Strong Buy to Sell and an overall average rating of “Hold.” The consensus price target is $26.05, while Summit recently reported a smaller-than-expected quarterly loss of $0.24 per share.
Summit Therapeutics PLC (NASDAQ:SMMT - Get Free Report) CFO Manmeet Singh Soni purchased 50,000 shares of Summit Therapeutics stock in a transaction dated Thursday, June 4th. The shares were purchased at an average cost of $14.45 per share, with a total value of $722,500.00. Following the acquisition, the chief financial officer owned 3,123,603 shares of the company's stock, valued at approximately $45,136,063.35. This trade represents a 1.63% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Summit Therapeutics Stock Performance
Shares of SMMT opened at $14.84 on Friday. Summit Therapeutics PLC has a 1 year low of $13.83 and a 1 year high of $30.98. The company has a market cap of $11.52 billion, a price-to-earnings ratio of -9.28 and a beta of -1.32. The firm has a fifty day moving average of $19.02 and a 200-day moving average of $17.47.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.03. Analysts predict that Summit Therapeutics PLC will post -1.17 EPS for the current year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Baker BROS. Advisors LP boosted its stake in Summit Therapeutics by 7.9% during the fourth quarter. Baker BROS. Advisors LP now owns 36,391,063 shares of the company's stock valued at $636,480,000 after buying an additional 2,668,089 shares in the last quarter. Vanguard Group Inc. boosted its stake in Summit Therapeutics by 31.2% during the third quarter. Vanguard Group Inc. now owns 11,379,728 shares of the company's stock valued at $235,105,000 after buying an additional 2,706,056 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Summit Therapeutics by 106.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,371,415 shares of the company's stock valued at $163,907,000 after buying an additional 4,832,592 shares in the last quarter. State Street Corp boosted its stake in Summit Therapeutics by 4.3% during the fourth quarter. State Street Corp now owns 6,636,361 shares of the company's stock valued at $116,070,000 after buying an additional 274,425 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Summit Therapeutics by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,147,480 shares of the company's stock valued at $55,063,000 after buying an additional 14,745 shares in the last quarter. Institutional investors own 4.61% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on SMMT. Stifel Nicolaus began coverage on Summit Therapeutics in a research note on Wednesday, April 8th. They issued a "buy" rating and a $45.00 price target for the company. Sanford C. Bernstein began coverage on Summit Therapeutics in a research note on Thursday, May 21st. They issued an "underperform" rating and a $7.70 price target for the company. Jefferies Financial Group cut Summit Therapeutics from a "buy" rating to a "hold" rating and decreased their price target for the stock from $42.00 to $15.00 in a research note on Monday, March 16th. Zacks Research raised Summit Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 5th. Finally, Citigroup initiated coverage on Summit Therapeutics in a research note on Wednesday, April 8th. They issued a "buy" rating for the company. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Summit Therapeutics presently has an average rating of "Hold" and an average price target of $26.05.
Get Our Latest Analysis on Summit Therapeutics
Summit Therapeutics Company Profile
(
Get Free Report)
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.
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