Jefferies Financial Group Inc. Has $1.75 Million Position in Summit Therapeutics PLC $SMMT

Jefferies Financial Group Inc. boosted its position in Summit Therapeutics PLC (NASDAQ:SMMT) by 566.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,000 shares of the company’s stock after acquiring an additional 85,000 shares during the period. Jefferies Financial Group Inc.’s holdings in Summit Therapeutics were worth $1,749,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SMMT. AQR Capital Management LLC grew its holdings in Summit Therapeutics by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 65,623 shares of the company’s stock worth $1,266,000 after acquiring an additional 3,134 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Summit Therapeutics by 1.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,411 shares of the company’s stock worth $1,273,000 after acquiring an additional 694 shares during the period. Creative Planning grew its holdings in Summit Therapeutics by 6.7% during the 2nd quarter. Creative Planning now owns 21,390 shares of the company’s stock worth $455,000 after acquiring an additional 1,336 shares during the period. Legal & General Group Plc grew its holdings in Summit Therapeutics by 33.8% during the 2nd quarter. Legal & General Group Plc now owns 26,367 shares of the company’s stock worth $561,000 after acquiring an additional 6,662 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Summit Therapeutics during the 2nd quarter worth $132,000. Institutional investors own 4.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SMMT shares. Stifel Nicolaus started coverage on Summit Therapeutics in a research report on Wednesday, April 8th. They set a “buy” rating and a $45.00 target price for the company. Wall Street Zen lowered shares of Summit Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, May 18th. Sanford C. Bernstein started coverage on shares of Summit Therapeutics in a report on Thursday, May 21st. They issued an “underperform” rating and a $7.70 target price on the stock. Jefferies Financial Group lowered shares of Summit Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $42.00 to $15.00 in a report on Monday, March 16th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $40.00 target price on shares of Summit Therapeutics in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.05.

Summit Therapeutics Trading Up 2.1%

NASDAQ:SMMT opened at $17.36 on Thursday. Summit Therapeutics PLC has a 1-year low of $13.83 and a 1-year high of $30.98. The stock has a market cap of $13.47 billion, a P/E ratio of -10.85 and a beta of -1.25. The stock has a 50 day simple moving average of $18.99 and a 200 day simple moving average of $17.58.

Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.03. As a group, sell-side analysts forecast that Summit Therapeutics PLC will post -1.17 EPS for the current year.

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.