Polianta Ltd bought a new stake in Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 60,600 shares of the company's stock, valued at approximately $1,168,000.
Other hedge funds also recently added to or reduced their stakes in the company. National Bank of Canada FI purchased a new position in Summit Therapeutics in the fourth quarter valued at about $30,000. Steward Partners Investment Advisory LLC increased its holdings in Summit Therapeutics by 56.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,503 shares of the company's stock valued at $45,000 after buying an additional 900 shares in the last quarter. Fifth Third Bancorp increased its holdings in 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 buying an additional 2,800 shares in the last quarter. Rakuten Securities Inc. purchased a new position in Summit Therapeutics in the fourth quarter valued at about $71,000. Finally, Summit Investment Advisors Inc. increased its holdings in Summit Therapeutics by 12.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,621 shares of the company's stock valued at $172,000 after buying an additional 1,044 shares in the last quarter. 4.61% of the stock is owned by hedge funds and other institutional investors.
Summit Therapeutics Stock Performance
NASDAQ SMMT traded up $0.17 during mid-day trading on Monday, reaching $19.95. 2,382,209 shares of the stock were exchanged, compared to its average volume of 3,643,997. Summit Therapeutics Inc. has a 1-year low of $6.78 and a 1-year high of $36.91. The business's fifty day simple moving average is $23.74 and its 200 day simple moving average is $20.95. The stock has a market capitalization of $14.82 billion, a PE ratio of -71.25 and a beta of -1.06.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last announced its 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. On average, analysts anticipate that Summit Therapeutics Inc. will post -0.3 EPS for the current year.
Analyst Ratings Changes
SMMT has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price 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. Wall Street Zen upgraded shares of Summit Therapeutics from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Summit Therapeutics in a research report on Wednesday, April 23rd. TD Cowen upgraded shares of Summit Therapeutics to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, Citigroup upgraded shares of Summit Therapeutics from a "neutral" rating to a "buy" rating and increased their price target for the company from $23.00 to $35.00 in a research report on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $35.09.
Read Our Latest Stock Analysis on Summit Therapeutics
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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