Summit Therapeutics (NASDAQ:SMMT) Earns "Buy" Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Summit Therapeutics (NASDAQ:SMMT - Free Report) in a research report sent to investors on Monday morning,Benzinga reports. HC Wainwright currently has a $44.00 price objective on the stock.

A number of other equities analysts also recently issued reports on SMMT. Citigroup downgraded Summit Therapeutics from a "buy" rating to a "neutral" rating and upped their price target for the company from $19.00 to $23.00 in a report on Friday, September 27th. JMP Securities began coverage on shares of Summit Therapeutics in a report on Monday, November 4th. They issued a "market outperform" rating and a $32.00 target price for the company. Finally, Stifel Nicolaus boosted their price target on shares of Summit Therapeutics from $25.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th.

Summit Therapeutics Trading Up 3.7 %

NASDAQ:SMMT traded up $0.67 during trading hours on Monday, hitting $18.98. The company's stock had a trading volume of 1,401,787 shares, compared to its average volume of 3,575,673. Summit Therapeutics has a 52-week low of $1.89 and a 52-week high of $33.89. The stock has a market capitalization of $14.00 billion, a P/E ratio of -65.39 and a beta of -0.92. The stock has a fifty day moving average of $21.47 and a 200-day moving average of $13.14.

Institutional Investors Weigh In On Summit Therapeutics

Several large investors have recently made changes to their positions in the business. CIBC Asset Management Inc grew its stake in shares of Summit Therapeutics by 3.8% in the third quarter. CIBC Asset Management Inc now owns 20,445 shares of the company's stock valued at $448,000 after buying an additional 740 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Summit Therapeutics in the 3rd quarter worth approximately $25,000. Covestor Ltd raised its holdings in shares of Summit Therapeutics by 2,767.4% during the third quarter. Covestor Ltd now owns 1,233 shares of the company's stock worth $27,000 after purchasing an additional 1,190 shares during the period. Hoylecohen LLC raised its stake in Summit Therapeutics by 2.4% during the second quarter. Hoylecohen LLC now owns 86,408 shares of the company's stock worth $674,000 after acquiring an additional 2,000 shares during the period. Finally, World Equity Group Inc. increased its position in Summit Therapeutics by 16.1% in the third quarter. World Equity Group Inc. now owns 14,842 shares of the company's stock worth $325,000 after buying an additional 2,063 shares during the period. Institutional investors and hedge funds own 4.61% of the company's stock.

About Summit Therapeutics

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.