Summit Therapeutics PLC $SMMT Stock: Candriam S.C.A. Grows Holdings

Candriam S.C.A. boosted its stake in Summit Therapeutics PLC (NASDAQ:SMMT) by 212.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,662,969 shares of the company’s stock after buying an additional 1,130,537 shares during the quarter. Candriam S.C.A.’s holdings in Summit Therapeutics were worth $28,224,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SMMT shares. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Summit Therapeutics in a research note on Monday, October 5th. Guggenheim reiterated a “buy” rating on shares of Summit Therapeutics in a research report on Wednesday, August 26th. Stifel Nicolaus reduced their price objective on Summit Therapeutics from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, July 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of Summit Therapeutics in a research note on Tuesday, September 22nd. Finally, The Goldman Sachs Group set a $41.00 price objective on Summit Therapeutics and gave the company a “buy” rating in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Summit Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $28.61.

Key Headlines Impacting Summit Therapeutics

Here are the key news stories impacting Summit Therapeutics this week:

• Positive Sentiment: HC Wainwright maintained its Buy rating and raised its earnings estimates across several periods, forecasting narrower losses for FY2026 (a loss of $1.04 per share versus $1.06 previously) and FY2027 (a loss of $0.98 versus $1.05). Its quarterly estimates were also generally revised toward smaller losses. These are forecasts, not reported results. Summit Therapeutics analyst estimate report
• Positive Sentiment: A separate report grouped Summit among healthcare stocks analysts are bullish on, reinforcing the favorable analyst tone. Analysts Are Bullish on These Healthcare Stocks
• Neutral Sentiment: Another article notes SMMT moved above its 200-day moving average, a potentially constructive technical signal, but its headline raises the question of selling and provides no clear investment recommendation. Summit Therapeutics stock breaks above 200-day moving average

Summit Therapeutics Stock Performance

SMMT opened at $16.33 on Monday. The firm has a market capitalization of $13.06 billion, a PE ratio of -15.26 and a beta of -1.49. Summit Therapeutics PLC has a twelve month low of $12.07 and a twelve month high of $29.23. The firm’s 50-day moving average price is $16.25 and its 200 day moving average price is $16.15.

Summit Therapeutics Company Profile

Summit Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. Its lead candidate is ivonescimab, a bispecific antibody designed to target both PD-1 and VEGF, two pathways involved in tumor growth and the immune response. The company is evaluating the treatment in clinical trials for multiple types of cancer.

Summit licensed rights to develop and commercialize ivonescimab from China-based Akeso in 2022. Summit’s licensed territory covers markets outside China, including the United States, Canada, Europe and Japan.