Guggenheim Capital LLC Takes $765,000 Position in Summit Therapeutics Inc. (NASDAQ:SMMT)

Guggenheim Capital LLC bought a new position in shares of Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 42,887 shares of the company's stock, valued at approximately $765,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brooklyn Investment Group acquired a new stake in Summit Therapeutics during the 4th quarter worth approximately $29,000. National Bank of Canada FI acquired a new stake in Summit Therapeutics in the 4th quarter worth about $30,000. Steward Partners Investment Advisory LLC boosted its holdings 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 purchasing an additional 900 shares during the period. Rakuten Securities Inc. acquired a new position in shares of Summit Therapeutics during the 4th quarter worth approximately $71,000. Finally, Avanza Fonder AB bought a new position in shares of Summit Therapeutics during the fourth quarter worth approximately $115,000. 4.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Jefferies Financial Group set a $44.00 target price on shares of Summit Therapeutics and gave the company a "buy" rating in a research report on Friday. Evercore ISI initiated coverage on Summit Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $30.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $44.00 price target on shares of Summit Therapeutics in a report on Monday. Summit Redstone set a $35.00 price target on shares of Summit Therapeutics in a report on Wednesday, March 26th. Finally, The Goldman Sachs Group assumed coverage on Summit Therapeutics in a research report on Friday, February 28th. They set a "buy" rating and a $42.00 price objective on the stock. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.50.

Summit Therapeutics Trading Up 0.1 %

Shares of SMMT stock traded up $0.02 during trading on Tuesday, reaching $24.13. 1,134,581 shares of the company's stock traded hands, compared to its average volume of 3,809,603. The firm's 50-day moving average is $21.00 and its 200 day moving average is $20.17. Summit Therapeutics Inc. has a 1 year low of $2.10 and a 1 year high of $36.91. The company has a market capitalization of $17.80 billion, a P/E ratio of -86.42 and a beta of -0.46.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last issued its earnings results on Monday, February 24th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $0.20 million during the quarter. As a group, sell-side analysts predict that Summit Therapeutics Inc. will post -0.3 earnings per share for the current fiscal year.

Summit Therapeutics Profile

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.