SVB Wealth LLC acquired a new position in shares of Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,350 shares of the company's stock, valued at approximately $274,000.
A number of other institutional investors and hedge funds have also made changes to their positions in SMMT. Baker BROS. Advisors LP grew its position in shares of Summit Therapeutics by 5.2% during the third quarter. Baker BROS. Advisors LP now owns 24,424,865 shares of the company's stock worth $534,905,000 after buying an additional 1,202,643 shares in the last quarter. FMR LLC grew its position in shares of Summit Therapeutics by 9.8% during the third quarter. FMR LLC now owns 8,303,119 shares of the company's stock worth $181,838,000 after buying an additional 737,692 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Summit Therapeutics by 53.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,432,713 shares of the company's stock worth $31,376,000 after buying an additional 497,984 shares in the last quarter. abrdn plc grew its position in shares of Summit Therapeutics by 13.6% during the fourth quarter. abrdn plc now owns 1,290,425 shares of the company's stock worth $23,028,000 after buying an additional 154,139 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Summit Therapeutics by 252.8% during the fourth quarter. Principal Financial Group Inc. now owns 205,150 shares of the company's stock worth $3,661,000 after buying an additional 147,003 shares in the last quarter. 4.61% of the stock is owned by institutional investors and hedge funds.
Summit Therapeutics Stock Down 6.4 %
SMMT stock traded down $1.21 on Friday, reaching $17.78. 3,409,255 shares of the company's stock were exchanged, compared to its average volume of 2,503,521. The stock has a fifty day moving average of $20.00 and a 200-day moving average of $19.56. Summit Therapeutics Inc. has a twelve month low of $2.10 and a twelve month high of $33.89. The firm has a market cap of $13.12 billion, a PE ratio of -63.50 and a beta of -1.04.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last posted its earnings results on Monday, February 24th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The firm had revenue of $0.20 million during the quarter. On average, equities research analysts predict that Summit Therapeutics Inc. will post -0.3 EPS for the current fiscal year.
Wall Street Analyst Weigh In
SMMT has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on Summit Therapeutics in a report on Wednesday, December 11th. They issued an "overweight" rating and a $30.00 price target for the company. StockNews.com raised Summit Therapeutics from a "sell" rating to a "hold" rating in a report on Wednesday. Jefferies Financial Group initiated coverage on Summit Therapeutics in a report on Friday, December 6th. They issued a "buy" rating and a $31.00 price target for the company. The Goldman Sachs Group initiated coverage on Summit Therapeutics in a report on Friday, February 28th. They issued a "buy" rating and a $42.00 price target for the company. Finally, Truist Financial initiated coverage on Summit Therapeutics in a report on Wednesday, January 8th. They issued a "buy" rating and a $35.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Summit Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $34.63.
Get Our Latest Report on Summit Therapeutics
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.
Read More
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 Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
