Northern Trust Corp Has $15.55 Million Stake in Summit Therapeutics Inc. (NASDAQ:SMMT)

Northern Trust Corp lifted its position in shares of Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 871,402 shares of the company's stock after purchasing an additional 14,075 shares during the quarter. Northern Trust Corp owned approximately 0.12% of Summit Therapeutics worth $15,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. 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 purchasing an additional 900 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in Summit Therapeutics by 12.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,621 shares of the company's stock valued at $172,000 after acquiring an additional 1,044 shares in the last quarter. CIBC Asset Management Inc grew its position in Summit Therapeutics by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 21,577 shares of the company's stock worth $385,000 after acquiring an additional 1,132 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Summit Therapeutics in the 4th quarter valued at about $29,000. Finally, National Bank of Canada FI acquired a new position in shares of Summit Therapeutics in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 4.61% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. HC Wainwright reaffirmed a "buy" rating and set a $44.00 price target on shares of Summit Therapeutics in a research report on Monday, April 28th. The Goldman Sachs Group boosted their price objective on shares of Summit Therapeutics from $37.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. StockNews.com upgraded Summit Therapeutics from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. TD Cowen raised shares of Summit Therapeutics to a "strong-buy" rating in a report on Thursday, May 8th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Summit Therapeutics in a research report on Wednesday, April 23rd. One 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's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $37.40.

Summit Therapeutics Stock Up 0.2%

NASDAQ SMMT traded up $0.05 on Tuesday, hitting $24.06. The stock had a trading volume of 137,453 shares, compared to its average volume of 3,867,838. The company's 50-day moving average is $22.57 and its two-hundred day moving average is $20.58. The stock has a market cap of $17.87 billion, a price-to-earnings ratio of -86.12 and a beta of -0.94. Summit Therapeutics Inc. has a one year low of $2.10 and a one year high of $36.91.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last posted 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, sell-side analysts anticipate that Summit Therapeutics Inc. will post -0.3 earnings per share for the current 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.