Renaissance Technologies LLC Sells 55,800 Shares of SUMMIT THERAPEU/S (SMMT)

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Renaissance Technologies LLC lowered its stake in SUMMIT THERAPEU/S (NASDAQ:SMMT) by 33.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 109,800 shares of the company’s stock after selling 55,800 shares during the quarter. Renaissance Technologies LLC’s holdings in SUMMIT THERAPEU/S were worth $269,000 as of its most recent filing with the SEC.

Separately, Royal Bank of Canada lifted its stake in shares of SUMMIT THERAPEU/S by 376.0% during the 1st quarter. Royal Bank of Canada now owns 11,900 shares of the company’s stock worth $154,000 after purchasing an additional 9,400 shares during the period. 25.05% of the stock is owned by institutional investors.

A number of research analysts have weighed in on the company. Zacks Investment Research lowered SUMMIT THERAPEU/S from a “buy” rating to a “hold” rating in a research note on Tuesday. Canaccord Genuity set a $3.00 price target on SUMMIT THERAPEU/S and gave the stock a “buy” rating in a research note on Thursday, August 16th. ValuEngine lowered SUMMIT THERAPEU/S from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 27th. Finally, HC Wainwright set a $3.00 price target on SUMMIT THERAPEU/S and gave the stock a “buy” rating in a research note on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. SUMMIT THERAPEU/S currently has a consensus rating of “Hold” and a consensus price target of $13.09.

Shares of SUMMIT THERAPEU/S stock opened at $1.50 on Friday. SUMMIT THERAPEU/S has a fifty-two week low of $1.45 and a fifty-two week high of $15.90. The firm has a market cap of $22.43 million, a price-to-earnings ratio of -2.00 and a beta of 1.15.

SUMMIT THERAPEU/S (NASDAQ:SMMT) last issued its quarterly earnings results on Thursday, September 20th. The company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $2.84. SUMMIT THERAPEU/S had a return on equity of 58.72% and a net margin of 13.38%. The company had revenue of $49.82 million for the quarter. As a group, sell-side analysts expect that SUMMIT THERAPEU/S will post 0.96 earnings per share for the current year.

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SUMMIT THERAPEU/S Company Profile

Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat rare and infectious diseases in the United Kingdom and North America. It is conducting clinical programmes focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).

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Institutional Ownership by Quarter for SUMMIT THERAPEU/S (NASDAQ:SMMT)

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