Summit Therapeutics PLC $SMMT Shares Sold by Profund Advisors LLC

Profund Advisors LLC lowered its holdings in Summit Therapeutics PLC (NASDAQ:SMMT) by 46.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 53,459 shares of the company’s stock after selling 47,090 shares during the period. Profund Advisors LLC’s holdings in Summit Therapeutics were worth $904,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp increased its position in Summit Therapeutics by 24.4% during the 1st quarter. Fifth Third Bancorp now owns 3,732 shares of the company’s stock valued at $71,000 after purchasing an additional 732 shares during the period. Tidal Investments LLC increased its stake in shares of Summit Therapeutics by 0.7% in the 2nd quarter. Tidal Investments LLC now owns 121,097 shares of the company’s stock worth $1,764,000 after acquiring an additional 783 shares in the last quarter. GAMMA Investing LLC lifted its position in Summit Therapeutics by 61.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,697 shares of the company’s stock valued at $46,000 after acquiring an additional 1,029 shares during the period. IFP Advisors Inc boosted its stake in Summit Therapeutics by 792.3% during the third quarter. IFP Advisors Inc now owns 1,508 shares of the company’s stock worth $26,000 after acquiring an additional 1,339 shares in the last quarter. Finally, CX Institutional boosted its stake in Summit Therapeutics by 244.8% during the third quarter. CX Institutional now owns 2,038 shares of the company’s stock worth $34,000 after acquiring an additional 1,447 shares in the last quarter. Hedge funds and other institutional investors own 4.61% of the company’s stock.

Analysts Set New Price Targets

SMMT has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating on shares of Summit Therapeutics in a report on Thursday, October 15th. Citigroup reiterated a “market outperform” rating on shares of Summit Therapeutics in a report on Tuesday, October 27th. Cantor Fitzgerald restated an “overweight” rating on shares of Summit Therapeutics in a research note on Tuesday, September 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Summit Therapeutics in a research note on Thursday, October 15th. Finally, The Goldman Sachs Group set a $41.00 price objective on Summit Therapeutics and gave the company a “buy” rating in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.61.

Summit Therapeutics Stock Up 6.8%

NASDAQ:SMMT opened at $15.80 on Wednesday. Summit Therapeutics PLC has a 52 week low of $12.07 and a 52 week high of $29.23. The stock has a market cap of $12.64 billion, a price-to-earnings ratio of -14.11 and a beta of -1.49. The company’s 50 day moving average price is $16.15 and its 200-day moving average price is $16.16.

Summit Therapeutics Profile

Summit Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing innovative medicines for the treatment of cancer. The company’s primary focus is oncology, with an emphasis on therapies designed to improve outcomes for patients with serious diseases.

Summit’s lead product candidate is ivonescimab, a bispecific antibody that is designed to combine immune checkpoint inhibition against PD-1 with anti-angiogenic activity targeting VEGF. The company is advancing ivonescimab in clinical studies for non-small cell lung cancer and is evaluating the therapy in combination with other cancer treatments and across additional treatment settings.

Summit holds exclusive rights to develop and commercialize ivonescimab in markets outside China through a licensing and collaboration agreement with Akeso, a China-based biopharmaceutical company.