U.S. Capital Wealth Advisors LLC Takes Position in Summit Therapeutics PLC (NASDAQ:SMMT)

U.S. Capital Wealth Advisors LLC acquired a new position in Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,025 shares of the company's stock, valued at approximately $232,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its stake in Summit Therapeutics by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,502 shares of the company's stock valued at $29,000 after buying an additional 751 shares during the period. National Bank of Canada FI acquired a new position in shares of Summit Therapeutics during the fourth quarter worth approximately $30,000. Steward Partners Investment Advisory LLC raised its position in shares of 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 purchasing an additional 900 shares during the period. Fifth Third Bancorp raised its position in shares of Summit Therapeutics by 1,400.0% during the first quarter. Fifth Third Bancorp now owns 3,000 shares of the company's stock worth $58,000 after purchasing an additional 2,800 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in shares of Summit Therapeutics by 11.4% during the first quarter. Exchange Traded Concepts LLC now owns 6,328 shares of the company's stock worth $122,000 after purchasing an additional 647 shares during the period. 4.61% of the stock is owned by institutional investors and hedge funds.

Summit Therapeutics Trading Down 4.1%

Shares of SMMT traded down $1.04 during trading hours on Tuesday, reaching $24.36. 1,794,476 shares of the company's stock traded hands, compared to its average volume of 3,774,999. The stock has a market cap of $18.09 billion, a PE ratio of -71.64 and a beta of -1.01. The firm's 50 day simple moving average is $22.63 and its 200-day simple moving average is $21.51. Summit Therapeutics PLC has a 12 month low of $8.71 and a 12 month high of $36.91.

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

Analyst Ratings Changes

SMMT has been the subject of several recent research reports. TD Cowen upgraded Summit Therapeutics to a "strong-buy" rating in a report on Thursday, May 8th. Summit Redstone set a $35.00 price target on Summit Therapeutics in a report on Wednesday, March 26th. Wall Street Zen upgraded Summit Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, June 29th. UBS Group initiated coverage on Summit Therapeutics in a report on Tuesday, July 1st. They set a "buy" rating and a $30.00 price target for the company. Finally, Jefferies Financial Group set a $44.00 price target on Summit Therapeutics and gave the stock a "buy" rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $34.67.

Summit Therapeutics Company 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.