Sargent Investment Group LLC lowered its stake in shares of Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) by 87.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,500 shares of the company's stock after selling 70,000 shares during the period. Sargent Investment Group LLC's holdings in Summit Therapeutics were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of SMMT. Golden State Wealth Management LLC grew its position in Summit Therapeutics by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,502 shares of the company's stock worth $29,000 after purchasing an additional 751 shares during the period. National Bank of Canada FI acquired a new stake in Summit Therapeutics during the 4th quarter worth about $30,000. CWM LLC grew its position in Summit Therapeutics by 3,455.3% during the 1st quarter. CWM LLC now owns 1,671 shares of the company's stock worth $32,000 after purchasing an additional 1,624 shares during the period. Fifth Third Bancorp grew its position in Summit Therapeutics by 1,400.0% during the 1st 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 grew its position in Summit Therapeutics by 11.4% during the 1st 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. Hedge funds and other institutional investors own 4.61% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on SMMT. Summit Redstone set a $35.00 target price on Summit Therapeutics in a research report on Wednesday, March 26th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Summit Therapeutics in a research note on Wednesday, April 23rd. HC Wainwright reaffirmed a "buy" rating and issued a $44.00 price target on shares of Summit Therapeutics in a research note on Tuesday, July 1st. Wall Street Zen raised shares of Summit Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 29th. Finally, Leerink Partnrs raised shares of Summit Therapeutics to a "strong sell" rating in a research note on Wednesday, June 11th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $34.67.
Get Our Latest Analysis on SMMT
Summit Therapeutics Trading Down 3.2%
Shares of Summit Therapeutics stock traded down $0.91 during trading hours on Thursday, reaching $27.10. 781,723 shares of the company's stock were exchanged, compared to its average volume of 3,731,125. Summit Therapeutics PLC has a 52-week low of $8.88 and a 52-week high of $36.91. The firm has a market capitalization of $20.13 billion, a price-to-earnings ratio of -79.72 and a beta of -1.01. The company has a fifty day moving average of $22.98 and a 200-day moving average of $21.88.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. On average, equities research analysts anticipate that Summit Therapeutics PLC will post -0.3 earnings per share for the current fiscal year.
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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