MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) by 24.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,717 shares of the company's stock after buying an additional 12,546 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Summit Therapeutics were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in Summit Therapeutics by 20.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,557,927 shares of the company's stock worth $116,995,000 after acquiring an additional 1,118,270 shares in the last quarter. Vanguard Group Inc. boosted its stake in Summit Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 11,670,576 shares of the company's stock worth $208,261,000 after acquiring an additional 724,040 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Summit Therapeutics by 100.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,387,247 shares of the company's stock worth $24,755,000 after acquiring an additional 695,843 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Summit Therapeutics during the fourth quarter worth about $8,801,000. Finally, Invesco Ltd. boosted its stake in Summit Therapeutics by 435.7% during the fourth quarter. Invesco Ltd. now owns 399,050 shares of the company's stock worth $7,121,000 after acquiring an additional 324,555 shares in the last quarter. Hedge funds and other institutional investors own 4.61% of the company's stock.
Summit Therapeutics Price Performance
Summit Therapeutics stock traded up $0.40 during midday trading on Wednesday, reaching $26.04. 1,989,811 shares of the company traded hands, compared to its average volume of 3,868,716. The firm has a market capitalization of $19.34 billion, a price-to-earnings ratio of -93.00 and a beta of -0.94. The business has a 50 day moving average of $23.24 and a two-hundred day moving average of $20.78. Summit Therapeutics Inc. has a 12 month low of $2.10 and a 12 month high of $36.91.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. As a group, equities analysts forecast that Summit Therapeutics Inc. will post -0.3 EPS for the current year.
Analyst Ratings Changes
Several research analysts have recently issued reports on SMMT shares. Jefferies Financial Group set a $44.00 target price on shares of Summit Therapeutics and gave the stock a "buy" rating in a research note on Friday, April 25th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Summit Therapeutics in a research note on Wednesday, April 23rd. Evercore ISI started coverage on shares of Summit Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $30.00 target price on the stock. Citigroup upgraded shares of Summit Therapeutics from a "neutral" rating to a "buy" rating and upped their target price for the stock from $23.00 to $35.00 in a research note on Wednesday, March 26th. Finally, HC Wainwright reiterated a "buy" rating and issued a $44.00 target price on shares of Summit Therapeutics in a research note on Monday, April 28th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $37.40.
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About Summit Therapeutics
(
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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