U.S. Capital Wealth Advisors LLC Makes New $232,000 Investment in Summit Therapeutics PLC (NASDAQ:SMMT)

U.S. Capital Wealth Advisors LLC acquired a new stake in Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,025 shares of the company's stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also bought and sold shares of SMMT. Golden State Wealth Management LLC lifted its stake in shares of Summit Therapeutics by 100.0% during the 1st 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 in the last quarter. National Bank of Canada FI purchased a new stake in shares of Summit Therapeutics during the fourth quarter worth $30,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Summit Therapeutics by 56.1% in the fourth 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. Fifth Third Bancorp grew its position in shares of Summit Therapeutics by 1,400.0% in the first quarter. Fifth Third Bancorp now owns 3,000 shares of the company's stock valued at $58,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Summit Therapeutics by 11.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,328 shares of the company's stock valued at $122,000 after purchasing an additional 647 shares during the period. 4.61% of the stock is owned by institutional investors.

Summit Therapeutics Stock Performance

NASDAQ:SMMT traded down $0.88 during mid-day trading on Friday, reaching $25.00. The stock had a trading volume of 2,231,025 shares, compared to its average volume of 3,744,709. The stock has a market capitalization of $18.57 billion, a P/E ratio of -73.53 and a beta of -1.01. The firm has a 50 day moving average price of $22.68 and a two-hundred day moving average price of $21.44. Summit Therapeutics PLC has a one year low of $8.39 and a one year high of $36.91.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group set a $44.00 price target on Summit Therapeutics and gave the company a "buy" rating in a research report on Friday, April 25th. JMP Securities reiterated a "market outperform" rating and issued a $40.00 target price on shares of Summit Therapeutics in a research note on Monday, June 2nd. The Goldman Sachs Group raised their price target on shares of Summit Therapeutics from $37.00 to $41.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Summit Redstone set a $35.00 price objective on Summit Therapeutics in a research note on Wednesday, March 26th. Finally, Wall Street Zen upgraded Summit Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 29th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $34.67.

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.