Jefferies Financial Group Inc. bought a new position in Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 45,001 shares of the company's stock, valued at approximately $803,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Summit Therapeutics by 20.6% in 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 buying an additional 1,118,270 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Summit Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 11,670,576 shares of the company's stock valued at $208,261,000 after purchasing an additional 724,040 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of 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 valued at $24,755,000 after buying an additional 695,843 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Summit Therapeutics in the 4th quarter worth about $8,801,000. Finally, Invesco Ltd. boosted its holdings in shares of Summit Therapeutics by 435.7% during the 4th quarter. Invesco Ltd. now owns 399,050 shares of the company's stock valued at $7,121,000 after acquiring an additional 324,555 shares during the last quarter. 4.61% of the stock is currently owned by institutional investors.
Summit Therapeutics Stock Performance
SMMT stock traded up $0.14 during trading on Monday, reaching $24.01. The company had a trading volume of 1,596,307 shares, compared to its average volume of 3,882,491. The company has a market cap of $17.83 billion, a price-to-earnings ratio of -85.75 and a beta of -0.94. Summit Therapeutics Inc. has a twelve month low of $2.10 and a twelve month high of $36.91. The firm has a 50-day simple moving average of $22.49 and a 200-day simple moving average of $20.55.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last announced 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. Sell-side analysts expect that Summit Therapeutics Inc. will post -0.3 earnings per share for the current year.
Analyst Ratings Changes
SMMT has been the subject of several recent research reports. StockNews.com upgraded shares of Summit Therapeutics from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. JMP Securities reaffirmed a "market outperform" rating and set a $40.00 price objective on shares of Summit Therapeutics in a report on Monday, April 28th. TD Cowen raised Summit Therapeutics to a "strong-buy" rating in a research report on Thursday, May 8th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Summit Therapeutics in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group increased their target price on Summit Therapeutics from $37.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $37.40.
Read Our Latest Stock Report 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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