Verde Servicos Internacionais S.A. Acquires Shares of 40,000 Summit Therapeutics PLC $SMMT

Verde Servicos Internacionais S.A. bought a new stake in Summit Therapeutics PLC (NASDAQ:SMMT) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 40,000 shares of the company’s stock, valued at approximately $826,000. Summit Therapeutics comprises approximately 0.2% of Verde Servicos Internacionais S.A.’s holdings, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. SBI Securities Co. Ltd. grew its stake in shares of Summit Therapeutics by 34.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,756 shares of the company’s stock valued at $37,000 after purchasing an additional 447 shares during the last quarter. Crowley Wealth Management Inc. grew its position in Summit Therapeutics by 66.7% in the 3rd quarter. Crowley Wealth Management Inc. now owns 1,500 shares of the company’s stock valued at $31,000 after buying an additional 600 shares during the last quarter. Amalgamated Bank increased its stake in Summit Therapeutics by 7.7% in the 3rd quarter. Amalgamated Bank now owns 8,552 shares of the company’s stock valued at $177,000 after buying an additional 609 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Summit Therapeutics by 1.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,411 shares of the company’s stock valued at $1,273,000 after buying an additional 694 shares during the period. Finally, Cerity Partners LLC raised its position in Summit Therapeutics by 1.0% during the 2nd quarter. Cerity Partners LLC now owns 114,844 shares of the company’s stock worth $2,444,000 after buying an additional 1,190 shares during the last quarter. Hedge funds and other institutional investors own 4.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SMMT shares. Citigroup reiterated a “market outperform” rating on shares of Summit Therapeutics in a research note on Friday, January 30th. Zacks Research downgraded Summit Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 4th. Citizens Jmp reissued a “market outperform” rating and set a $40.00 price objective on shares of Summit Therapeutics in a report on Friday, January 30th. Summit Redstone set a $18.00 price target on Summit Therapeutics in a report on Wednesday, December 17th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $40.00 price target on shares of Summit Therapeutics in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.62.

Summit Therapeutics Stock Performance

Shares of SMMT opened at $15.25 on Thursday. The firm has a fifty day moving average of $17.01 and a 200-day moving average of $19.94. The company has a market cap of $11.76 billion, a price-to-earnings ratio of -12.30 and a beta of -1.44. Summit Therapeutics PLC has a 1 year low of $13.83 and a 1 year high of $36.91.

About Summit Therapeutics

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.