Jefferies Financial Group Inc. bought a new position in Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 45,001 shares of the company's stock, valued at approximately $803,000.
Other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its stake in Summit Therapeutics by 39.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,716 shares of the company's stock valued at $280,000 after purchasing an additional 4,443 shares in the last quarter. Five Pine Wealth Management acquired a new position in Summit Therapeutics during the 4th quarter valued at approximately $531,000. China Universal Asset Management Co. Ltd. increased its stake in Summit Therapeutics by 12.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 156,366 shares of the company's stock valued at $2,790,000 after purchasing an additional 17,014 shares in the last quarter. abrdn plc increased its stake in Summit Therapeutics by 13.6% during the 4th quarter. abrdn plc now owns 1,290,425 shares of the company's stock valued at $23,028,000 after purchasing an additional 154,139 shares in the last quarter. Finally, Sovran Advisors LLC acquired a new position in Summit Therapeutics during the 4th quarter valued at approximately $1,951,000. 4.61% of the stock is currently owned by institutional investors.
Summit Therapeutics Trading Down 28.8%
NASDAQ:SMMT traded down $7.55 during trading hours on Friday, hitting $18.66. The company had a trading volume of 19,816,007 shares, compared to its average volume of 3,635,795. Summit Therapeutics Inc. has a 1 year low of $6.78 and a 1 year high of $36.91. The company has a market cap of $13.86 billion, a P/E ratio of -66.64 and a beta of -0.94. The company has a 50-day moving average of $23.44 and a 200 day moving average of $20.83.
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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. On average, analysts forecast that Summit Therapeutics Inc. will post -0.3 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on SMMT shares. Wall Street Zen upgraded shares of Summit Therapeutics from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Jefferies Financial Group set a $44.00 price target on shares of Summit Therapeutics and gave the stock a "buy" rating in a report on Friday, April 25th. The Goldman Sachs Group increased their price objective 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. TD Cowen raised shares of Summit Therapeutics to a "strong-buy" rating in a report on Thursday, May 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $44.00 price objective on shares of Summit Therapeutics in a report on Monday, April 28th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $37.40.
Read Our Latest Analysis on Summit Therapeutics
Summit Therapeutics Company Profile
(
Free Report)
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.
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