Three Seasons Wealth LLC purchased a new stake in Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 12,869 shares of the company's stock, valued at approximately $230,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SMMT. Price T Rowe Associates Inc. MD lifted its stake in shares of Summit Therapeutics by 20.6% during the 4th 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 during the last quarter. Vanguard Group Inc. lifted its position in Summit Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 11,670,576 shares of the company's stock worth $208,261,000 after acquiring an additional 724,040 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings 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 worth $24,755,000 after acquiring an additional 695,843 shares during the period. Invesco Ltd. boosted its holdings in shares of Summit Therapeutics by 435.7% during the fourth quarter. Invesco Ltd. now owns 399,050 shares of the company's stock worth $7,121,000 after acquiring an additional 324,555 shares during the period. Finally, Polymer Capital Management HK LTD acquired a new position in shares of Summit Therapeutics in the fourth quarter valued at approximately $3,923,000. 4.61% of the stock is owned by institutional investors.
Summit Therapeutics Price Performance
Shares of Summit Therapeutics stock traded up $0.77 during trading on Thursday, reaching $24.89. 1,352,219 shares of the company traded hands, compared to its average volume of 3,831,279. The firm has a market capitalization of $18.36 billion, a PE ratio of -88.52 and a beta of -0.46. Summit Therapeutics Inc. has a 1-year low of $2.10 and a 1-year high of $36.91. The company has a 50 day moving average price of $21.05 and a 200-day moving average price of $20.23.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.08). The company had revenue of $0.20 million for the quarter. Equities research analysts expect that Summit Therapeutics Inc. will post -0.3 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Jefferies Financial Group set a $44.00 price objective on Summit Therapeutics and gave the company a "buy" rating in a report on Friday, April 25th. StockNews.com raised shares of Summit Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group started coverage on shares of Summit Therapeutics in a research report on Friday, February 28th. They set a "buy" rating and a $42.00 price target on the stock. Truist Financial started coverage on shares of Summit Therapeutics in a report on Wednesday, January 8th. They issued a "buy" rating and a $35.00 price objective for the company. Finally, Summit Redstone set a $35.00 target price on shares of Summit Therapeutics in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $37.50.
Get Our Latest Stock Report on SMMT
Summit Therapeutics Company Profile
(
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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