NEOS Investment Management LLC bought a new position in shares of Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 26,641 shares of the company's stock, valued at approximately $475,000.
Several other hedge funds and other institutional investors have also modified their holdings of SMMT. Artisan Partners Limited Partnership acquired a new position in Summit Therapeutics in the 4th quarter valued at $1,691,000. IvyRock Asset Management HK Ltd bought a new stake in shares of Summit Therapeutics in the fourth quarter valued at about $2,972,000. Vanguard Group Inc. grew its stake in shares of Summit Therapeutics by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 11,670,576 shares of the company's stock valued at $208,261,000 after acquiring an additional 724,040 shares in the last quarter. American Century Companies Inc. bought a new position in Summit Therapeutics during the fourth quarter worth about $231,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in Summit Therapeutics in the 4th quarter worth about $586,000. Institutional investors own 4.61% of the company's stock.
Summit Therapeutics Stock Performance
Shares of Summit Therapeutics stock traded down $1.46 during midday trading on Thursday, hitting $19.00. 2,186,970 shares of the company traded hands, compared to its average volume of 2,447,355. The stock has a market cap of $14.02 billion, a price-to-earnings ratio of -67.85 and a beta of -1.04. The firm's fifty day moving average price is $20.39 and its 200-day moving average price is $20.00. 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 announced its quarterly earnings results on Monday, February 24th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $0.20 million for the quarter. Equities research analysts forecast that Summit Therapeutics Inc. will post -0.3 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages have issued reports on SMMT. The Goldman Sachs Group began coverage on shares of Summit Therapeutics in a research report on Friday, February 28th. They set a "buy" rating and a $42.00 target price on the stock. Truist Financial started coverage on Summit Therapeutics in a research note on Wednesday, January 8th. They set a "buy" rating and a $35.00 price objective on the stock. Cantor Fitzgerald started coverage on Summit Therapeutics in a report on Friday, March 21st. They issued an "overweight" rating for the company. HC Wainwright reissued a "buy" rating and set a $44.00 target price on shares of Summit Therapeutics in a report on Tuesday, February 25th. Finally, Jefferies Financial Group initiated coverage on shares of Summit Therapeutics in a research report on Friday, December 6th. They set a "buy" rating and a $31.00 price objective for the company. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.44.
View Our Latest Research Report on SMMT
About Summit Therapeutics
(
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.
Further Reading
Before you consider Summit Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Summit Therapeutics wasn't on the list.
While Summit Therapeutics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the 10 Best High-Yield Dividend Stocks for 2025 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
