Susquehanna Fundamental Investments LLC Buys New Shares in Summit Therapeutics Inc. (NASDAQ:SMMT)

Susquehanna Fundamental Investments LLC bought a new position in shares of Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 67,378 shares of the company's stock, valued at approximately $1,202,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SMMT. Price T Rowe Associates Inc. MD boosted its position in 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 purchasing an additional 1,118,270 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Summit Therapeutics by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 11,670,576 shares of the company's stock worth $208,261,000 after purchasing an additional 724,040 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of Summit Therapeutics by 100.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,387,247 shares of the company's stock worth $24,755,000 after buying an additional 695,843 shares during the last quarter. Invesco Ltd. grew its position in Summit Therapeutics by 435.7% during the fourth quarter. Invesco Ltd. now owns 399,050 shares of the company's stock valued at $7,121,000 after buying an additional 324,555 shares during the period. Finally, Polymer Capital Management HK LTD purchased a new stake in Summit Therapeutics during the fourth quarter worth about $3,923,000. Hedge funds and other institutional investors own 4.61% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SMMT. HC Wainwright reissued a "buy" rating and set a $44.00 target price on shares of Summit Therapeutics in a research report on Monday, April 28th. JMP Securities reissued a "market outperform" rating and set a $40.00 price objective on shares of Summit Therapeutics in a report on Monday, April 28th. Jefferies Financial Group set a $44.00 target price on Summit Therapeutics and gave the company a "buy" rating in a research note on Friday, April 25th. Evercore ISI started coverage on Summit Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $30.00 price target for the company. Finally, The Goldman Sachs Group upped their price objective on shares of Summit Therapeutics from $37.00 to $41.00 and gave the company a "buy" rating in a report on Friday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Summit Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $37.40.

Summit Therapeutics Trading Up 13.1 %

Shares of SMMT stock traded up $3.23 during trading hours on Friday, reaching $27.90. The stock had a trading volume of 7,351,888 shares, compared to its average volume of 3,857,912. The stock's fifty day simple moving average is $21.36 and its 200 day simple moving average is $20.28. The firm has a market capitalization of $20.58 billion, a PE ratio of -99.64 and a beta of -0.46. 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 announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. As a group, equities research analysts anticipate that Summit Therapeutics Inc. will post -0.3 EPS for the current fiscal year.

Summit Therapeutics Company 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.