Virtu Financial LLC decreased its position in shares of Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) by 36.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,878 shares of the company's stock after selling 15,365 shares during the period. Virtu Financial LLC's holdings in Summit Therapeutics were worth $480,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new position in Summit Therapeutics during the 3rd quarter worth $694,000. Charles Schwab Investment Management Inc. raised its holdings in Summit Therapeutics by 53.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,432,713 shares of the company's stock valued at $31,376,000 after acquiring an additional 497,984 shares in the last quarter. Cerity Partners LLC acquired a new position in Summit Therapeutics during the 3rd quarter worth approximately $2,178,000. Bank of Montreal Can purchased a new stake in shares of Summit Therapeutics in the 3rd quarter valued at approximately $2,038,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Summit Therapeutics by 43.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 295,629 shares of the company's stock worth $6,474,000 after purchasing an additional 89,572 shares during the last quarter. 4.61% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
SMMT has been the topic of a number of recent analyst reports. Cantor Fitzgerald started coverage on shares of Summit Therapeutics in a research report on Friday, March 21st. They issued an "overweight" rating on the stock. StockNews.com raised Summit Therapeutics from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. HC Wainwright reissued a "buy" rating and issued a $44.00 target price on shares of Summit Therapeutics in a report on Tuesday, February 25th. Truist Financial began coverage on Summit Therapeutics in a research note on Wednesday, January 8th. They set a "buy" rating and a $35.00 price target on the stock. Finally, Wells Fargo & Company started coverage on Summit Therapeutics in a research note on Wednesday, December 11th. They issued an "overweight" rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Summit Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $35.44.
Read Our Latest Report on SMMT
Summit Therapeutics Price Performance
Shares of NASDAQ SMMT traded down $0.28 on Friday, hitting $20.32. The company's stock had a trading volume of 1,685,854 shares, compared to its average volume of 3,430,026. The stock has a 50 day moving average of $20.51 and a 200-day moving average of $20.17. Summit Therapeutics Inc. has a 12-month low of $2.10 and a 12-month high of $33.89. The company has a market capitalization of $14.99 billion, a price-to-earnings ratio of -72.57 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 (EPS) for the quarter, meeting analysts' consensus estimates of ($0.08). The company had revenue of $0.20 million during the quarter. Sell-side analysts expect that Summit Therapeutics Inc. will post -0.3 EPS for the current fiscal year.
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.
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