Cerity Partners LLC purchased a new stake in Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 99,442 shares of the company's stock, valued at approximately $2,178,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Griffin Asset Management Inc. acquired a new stake in Summit Therapeutics in the 3rd quarter valued at about $1,484,000. Millennium Management LLC acquired a new stake in shares of Summit Therapeutics in the second quarter valued at approximately $15,154,000. China Universal Asset Management Co. Ltd. raised its position in Summit Therapeutics by 69.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 139,352 shares of the company's stock worth $3,052,000 after purchasing an additional 56,879 shares during the last quarter. SG Americas Securities LLC acquired a new position in Summit Therapeutics during the 3rd quarter worth $717,000. Finally, abrdn plc acquired a new position in Summit Therapeutics during the 3rd quarter worth $24,885,000. Institutional investors own 4.61% of the company's stock.
Summit Therapeutics Stock Performance
Summit Therapeutics stock traded up $0.03 during midday trading on Monday, reaching $18.49. The stock had a trading volume of 2,042,643 shares, compared to its average volume of 3,501,797. The stock has a market capitalization of $13.64 billion, a P/E ratio of -66.03 and a beta of -0.92. The firm's fifty day simple moving average is $20.16 and its 200-day simple moving average is $14.25. Summit Therapeutics Inc. has a 1-year low of $2.05 and a 1-year high of $33.89.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on SMMT shares. Citigroup downgraded Summit Therapeutics from a "buy" rating to a "neutral" rating and increased their price target for the company from $19.00 to $23.00 in a research note on Friday, September 27th. HC Wainwright restated a "buy" rating and set a $44.00 target price on shares of Summit Therapeutics in a report on Monday, November 18th. Stifel Nicolaus upped their price target on Summit Therapeutics from $25.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Finally, JMP Securities started coverage on shares of Summit Therapeutics in a research note on Monday, November 4th. They set a "market outperform" rating and a $32.00 price objective on the stock.
Get Our Latest Stock Analysis on SMMT
Summit Therapeutics 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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