E Fund Management Co. Ltd. grew its position in shares of Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 296,299 shares of the company's stock after buying an additional 15,194 shares during the period. E Fund Management Co. Ltd.'s holdings in Summit Therapeutics were worth $5,287,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in SMMT. Creative Planning lifted its holdings in Summit Therapeutics by 45.0% during the third quarter. Creative Planning now owns 15,633 shares of the company's stock valued at $342,000 after purchasing an additional 4,851 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Summit Therapeutics by 60.9% during the 3rd quarter. Principal Financial Group Inc. now owns 58,147 shares of the company's stock valued at $1,273,000 after buying an additional 22,014 shares in the last quarter. Covestor Ltd lifted its stake in shares of Summit Therapeutics by 2,767.4% during the 3rd quarter. Covestor Ltd now owns 1,233 shares of the company's stock valued at $27,000 after buying an additional 1,190 shares in the last quarter. Aigen Investment Management LP bought a new position in Summit Therapeutics in the 3rd quarter worth approximately $306,000. Finally, Sargent Investment Group LLC grew its stake in Summit Therapeutics by 11.8% in the 3rd quarter. Sargent Investment Group LLC now owns 80,500 shares of the company's stock valued at $1,763,000 after buying an additional 8,500 shares in the last quarter. Institutional investors own 4.61% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. StockNews.com upgraded Summit Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. Jefferies Financial Group began coverage on shares of Summit Therapeutics in a report on Friday, December 6th. They issued a "buy" rating and a $31.00 price target on the stock. Truist Financial initiated coverage on shares of Summit Therapeutics in a research note on Wednesday, January 8th. They set a "buy" rating and a $35.00 price objective for the company. HC Wainwright reiterated a "buy" rating and issued a $44.00 target price on shares of Summit Therapeutics in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group started coverage on shares of Summit Therapeutics in a report on Friday, February 28th. They issued a "buy" rating and a $42.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $34.63.
Check Out Our Latest Stock Report on SMMT
Summit Therapeutics Trading Up 1.2 %
Shares of NASDAQ:SMMT traded up $0.21 during trading on Monday, reaching $17.99. The company had a trading volume of 3,562,599 shares, compared to its average volume of 2,527,075. The company has a fifty day moving average of $20.00 and a two-hundred day moving average of $19.60. The stock has a market capitalization of $13.27 billion, a P/E ratio of -64.25 and a beta of -1.04. Summit Therapeutics Inc. has a 12 month low of $2.10 and a 12 month high of $33.89.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last released its earnings results on Monday, February 24th. The company reported ($0.08) EPS for the quarter, meeting analysts' consensus estimates of ($0.08). The firm had revenue of $0.20 million during the quarter. As a group, equities research analysts predict that Summit Therapeutics Inc. will post -0.3 earnings per share for the current year.
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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