Summit Therapeutics Inc. (NASDAQ:SMMT) Stock Position Raised by Barclays PLC

Barclays PLC boosted its position in Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) by 32.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 330,146 shares of the company's stock after acquiring an additional 80,028 shares during the period. Barclays PLC's holdings in Summit Therapeutics were worth $5,891,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in Summit Therapeutics in the fourth quarter valued at $29,000. National Bank of Canada FI acquired a new position in shares of Summit Therapeutics during the 4th quarter valued at about $30,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Summit Therapeutics by 56.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,503 shares of the company's stock worth $45,000 after acquiring an additional 900 shares during the period. Rakuten Securities Inc. purchased a new stake in Summit Therapeutics in the fourth quarter valued at approximately $71,000. Finally, Avanza Fonder AB acquired a new position in Summit Therapeutics during the fourth quarter worth approximately $115,000. 4.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on SMMT. Evercore ISI started coverage on shares of Summit Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $30.00 price objective for the company. StockNews.com upgraded Summit Therapeutics from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Summit Therapeutics in a research note on Wednesday, April 23rd. Jefferies Financial Group set a $44.00 target price on shares of Summit Therapeutics and gave the stock a "buy" rating in a research report on Friday, April 25th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $44.00 price target on shares of Summit Therapeutics in a research report on Monday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $37.50.

Summit Therapeutics Price Performance

SMMT traded up $0.67 during trading on Thursday, hitting $24.79. The company had a trading volume of 839,956 shares, compared to its average volume of 3,829,407. The company has a market cap of $18.28 billion, a PE ratio of -89.13 and a beta of -0.46. Summit Therapeutics Inc. has a 1-year low of $2.10 and a 1-year high of $36.91. The business has a 50-day moving average of $21.05 and a 200-day moving average of $20.23.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The firm had revenue of $0.20 million during the quarter. Research analysts forecast that Summit Therapeutics Inc. will post -0.3 earnings per share for the current year.

Summit Therapeutics Profile

Summit Therapeutics Inc, a biopharmaceutical company, focuses on discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies in the United States, and the United Kingdom. The company's lead development candidate is Ivonescimab, a bispecific antibody for immunotherapy through blockade of PD-1 with the anti-angiogenesis; and anti-infectives portfolio includes SMT-738, a novel class of precision antibiotics for the treatment of multidrug resistant infections, which primarily includes carbapenem-resistant Enterobacteriaceae infections.