Deutsche Bank AG Acquires 81,130 Shares of Summit Therapeutics Inc. (NASDAQ:SMMT)

Deutsche Bank AG raised its stake in shares of Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) by 20.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 478,808 shares of the company's stock after acquiring an additional 81,130 shares during the period. Deutsche Bank AG owned about 0.06% of Summit Therapeutics worth $8,547,000 as of its most recent SEC filing.

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

Summit Therapeutics Stock Performance

SMMT stock traded down $0.03 during trading on Thursday, hitting $25.38. 607,244 shares of the company traded hands, compared to its average volume of 3,885,251. The company has a 50-day moving average of $22.76 and a 200-day moving average of $20.64. Summit Therapeutics Inc. has a 1 year low of $2.10 and a 1 year high of $36.91. The firm has a market capitalization of $18.85 billion, a PE ratio of -90.33 and a beta of -0.94.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. Sell-side analysts expect that Summit Therapeutics Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JMP Securities reaffirmed a "market outperform" rating and set a $40.00 price target on shares of Summit Therapeutics in a research report on Monday, April 28th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Summit Therapeutics in a research report on Wednesday, April 23rd. TD Cowen raised shares of Summit Therapeutics to a "strong-buy" rating in a research report on Thursday, May 8th. HC Wainwright reaffirmed a "buy" rating and issued a $44.00 price objective on shares of Summit Therapeutics in a report on Monday, April 28th. Finally, Jefferies Financial Group set a $44.00 price objective on shares of Summit Therapeutics and gave the company a "buy" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Summit Therapeutics presently has an average rating of "Buy" and an average target price of $37.40.

About Summit Therapeutics

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.