Tema Etfs LLC Buys Shares of 26,641 Summit Therapeutics Inc. (NASDAQ:SMMT)

Tema Etfs LLC acquired a new position in shares of Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,641 shares of the company's stock, valued at approximately $475,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SMMT. Brooklyn Investment Group acquired a new position in shares of Summit Therapeutics during the fourth quarter worth approximately $29,000. National Bank of Canada FI acquired a new position in Summit Therapeutics during the 4th quarter worth $30,000. Steward Partners Investment Advisory LLC boosted its position in Summit Therapeutics by 56.1% in the 4th 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 during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Summit Therapeutics in the 4th quarter valued at $71,000. Finally, Avanza Fonder AB acquired a new stake in shares of Summit Therapeutics in the 4th quarter valued at $115,000. Institutional investors and hedge funds own 4.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SMMT. JMP Securities reiterated a "market outperform" rating and issued a $40.00 price target on shares of Summit Therapeutics in a report on Monday, April 28th. The Goldman Sachs Group lifted their price target on shares of Summit Therapeutics from $37.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Wall Street Zen raised shares of Summit Therapeutics from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. TD Cowen upgraded Summit Therapeutics to a "strong-buy" rating in a report on Thursday, May 8th. Finally, Jefferies Financial Group set a $44.00 target price on shares of Summit Therapeutics and gave the stock a "buy" rating in a report on Friday, April 25th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Summit Therapeutics currently has an average rating of "Buy" and an average target price of $37.40.

Summit Therapeutics Stock Down 0.6%

Shares of SMMT traded down $0.14 during trading hours on Friday, hitting $25.63. The company had a trading volume of 752,348 shares, compared to its average volume of 3,892,507. The firm has a market cap of $19.03 billion, a price-to-earnings ratio of -91.52 and a beta of -0.94. The business has a fifty day moving average of $22.88 and a 200-day moving average of $20.68. 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 (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. On average, equities analysts expect that Summit Therapeutics Inc. will post -0.3 EPS for the current fiscal year.

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.