Summit Therapeutics Inc. (NASDAQ:SMMT - Get Free Report) was the recipient of unusually large options trading activity on Friday. Traders acquired 14,375 call options on the company. This represents an increase of approximately 111% compared to the typical daily volume of 6,798 call options.
Hedge Funds Weigh In On Summit Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its stake in Summit Therapeutics by 5.2% in the first quarter. Rhumbline Advisers now owns 131,760 shares of the company's stock valued at $2,542,000 after purchasing an additional 6,558 shares in the last quarter. Siren L.L.C. bought a new stake in shares of Summit Therapeutics during the 1st quarter worth approximately $13,407,000. Focus Partners Wealth lifted its stake in Summit Therapeutics by 145,546.6% in the 1st quarter. Focus Partners Wealth now owns 84,475 shares of the company's stock valued at $1,630,000 after purchasing an additional 84,417 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Summit Therapeutics by 1.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,411 shares of the company's stock valued at $1,273,000 after acquiring an additional 694 shares during the last quarter. Finally, Cutter Capital Management LP bought a new stake in shares of Summit Therapeutics in the 1st quarter valued at about $7,716,000. 4.61% of the stock is owned by institutional investors and hedge funds.
Summit Therapeutics Price Performance
Shares of SMMT stock traded down $0.49 during trading hours on Monday, reaching $17.73. 14,124,037 shares of the company were exchanged, compared to its average volume of 3,677,040. The company has a market cap of $13.17 billion, a price-to-earnings ratio of -63.32 and a beta of -0.94. Summit Therapeutics has a fifty-two week low of $6.78 and a fifty-two week high of $36.91. The stock's fifty day moving average is $23.44 and its two-hundred day moving average is $20.85.
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, beating analysts' consensus estimates of ($0.10) by $0.01. On average, research analysts anticipate that Summit Therapeutics will post -0.3 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Citigroup raised shares of Summit Therapeutics from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $23.00 to $35.00 in a report on Wednesday, March 26th. Summit Redstone set a $35.00 price objective on Summit Therapeutics in a report on Wednesday, March 26th. Evercore ISI started coverage on Summit Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating and a $30.00 target price for the company. JMP Securities restated a "market outperform" rating and set a $40.00 target price on shares of Summit Therapeutics in a research report on Monday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $44.00 price target on shares of Summit Therapeutics in a research note on Monday, April 28th. 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. Based on data from MarketBeat, Summit Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $37.40.
Check Out Our Latest Analysis on SMMT
Summit Therapeutics Company Profile
(
Get 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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