Zurcher Kantonalbank Zurich Cantonalbank Has $53,000 Stock Position in Summit Therapeutics Inc. (NASDAQ:SMMT)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) by 82.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,760 shares of the company's stock after selling 32,233 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Summit Therapeutics were worth $53,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Summit Therapeutics by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 7,269,243 shares of the company's stock worth $30,095,000 after acquiring an additional 254,261 shares in the last quarter. Aristides Capital LLC acquired a new position in shares of Summit Therapeutics in the 4th quarter valued at $210,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Summit Therapeutics by 66.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 134,845 shares of the company's stock valued at $558,000 after purchasing an additional 53,774 shares during the period. Wealth Management Partners LLC increased its stake in Summit Therapeutics by 193.3% in the 1st quarter. Wealth Management Partners LLC now owns 44,000 shares of the company's stock worth $182,000 after purchasing an additional 29,000 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in Summit Therapeutics during the 1st quarter worth about $100,000. 4.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SMMT has been the subject of several recent analyst reports. HC Wainwright raised their target price on shares of Summit Therapeutics from $16.00 to $30.00 and gave the stock a "buy" rating in a report on Monday. Citigroup upped their price target on shares of Summit Therapeutics from $13.00 to $19.00 and gave the company a "buy" rating in a research report on Monday. Finally, Stifel Nicolaus lifted their price objective on shares of Summit Therapeutics from $14.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday.

Summit Therapeutics Trading Down 1.2 %

NASDAQ SMMT traded down $0.27 during trading on Wednesday, reaching $22.70. 12,609,774 shares of the company's stock were exchanged, compared to its average volume of 3,262,379. Summit Therapeutics Inc. has a fifty-two week low of $1.61 and a fifty-two week high of $24.07. The company's fifty day simple moving average is $11.42 and its 200-day simple moving average is $7.35. The firm has a market capitalization of $15.93 billion, a PE ratio of -141.88 and a beta of -0.99.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. Equities analysts forecast that Summit Therapeutics Inc. will post -0.27 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.