Three Seasons Wealth LLC Acquires New Position in Summit Therapeutics Inc. (NASDAQ:SMMT)

Three Seasons Wealth LLC bought a new position in shares of Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,869 shares of the company's stock, valued at approximately $230,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC increased its position in shares of Summit Therapeutics by 56.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,503 shares of the company's stock worth $45,000 after acquiring an additional 900 shares during the period. Summit Investment Advisors Inc. grew its stake in Summit Therapeutics by 12.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,621 shares of the company's stock worth $172,000 after purchasing an additional 1,044 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Summit Therapeutics by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 21,577 shares of the company's stock worth $385,000 after purchasing an additional 1,132 shares during the period. Brooklyn Investment Group acquired a new stake in Summit Therapeutics in the 4th quarter valued at about $29,000. Finally, National Bank of Canada FI purchased a new position in shares of Summit Therapeutics in the 4th quarter valued at about $30,000. 4.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SMMT has been the topic of a number of recent research reports. StockNews.com upgraded shares of Summit Therapeutics from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Summit Redstone set a $35.00 price objective on shares of Summit Therapeutics in a research report on Wednesday, March 26th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Summit Therapeutics in a research report on Wednesday. Jefferies Financial Group set a $44.00 target price on Summit Therapeutics and gave the company a "buy" rating in a report on Friday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $44.00 price target on shares of Summit Therapeutics in a report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Summit Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.70.

Summit Therapeutics Stock Performance

SMMT opened at $23.47 on Friday. Summit Therapeutics Inc. has a one year low of $2.10 and a one year high of $36.91. The stock has a market capitalization of $17.31 billion, a P/E ratio of -83.82 and a beta of -0.46. The business's 50-day simple moving average is $20.95 and its 200-day simple moving average is $20.13.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $0.20 million for the quarter. On average, equities research analysts forecast that Summit Therapeutics Inc. will post -0.3 EPS for the current fiscal year.

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.

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