45,001 Shares in Summit Therapeutics Inc. (NASDAQ:SMMT) Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. acquired a new position in shares of Summit Therapeutics Inc. (NASDAQ:SMMT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 45,001 shares of the company’s stock, valued at approximately $803,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in Summit Therapeutics by 20.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,557,927 shares of the company’s stock worth $116,995,000 after buying an additional 1,118,270 shares during the period. Vanguard Group Inc. grew its holdings in shares of Summit Therapeutics by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 11,670,576 shares of the company’s stock worth $208,261,000 after acquiring an additional 724,040 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of Summit Therapeutics by 100.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,387,247 shares of the company’s stock worth $24,755,000 after acquiring an additional 695,843 shares during the period. BNP Paribas Financial Markets acquired a new stake in Summit Therapeutics in the fourth quarter valued at $8,801,000. Finally, Invesco Ltd. grew its holdings in Summit Therapeutics by 435.7% in the fourth quarter. Invesco Ltd. now owns 399,050 shares of the company’s stock valued at $7,121,000 after purchasing an additional 324,555 shares during the last quarter. Institutional investors and hedge funds own 4.61% of the company’s stock.

Summit Therapeutics Price Performance

Summit Therapeutics stock opened at $26.21 on Friday. Summit Therapeutics Inc. has a 12-month low of $2.64 and a 12-month high of $36.91. The stock has a market capitalization of $19.47 billion, a P/E ratio of -93.60 and a beta of -0.94. The firm’s 50-day moving average is $23.47 and its two-hundred day moving average is $20.85.

Summit Therapeutics (NASDAQ:SMMT) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. As a group, analysts forecast that Summit Therapeutics Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on SMMT shares. JMP Securities reissued a “market outperform” rating and issued a $40.00 target price on shares of Summit Therapeutics in a report on Monday, April 28th. The Goldman Sachs Group increased their price objective on shares of Summit Therapeutics from $37.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. HC Wainwright reissued a “buy” rating and issued a $44.00 price objective on shares of Summit Therapeutics in a research note on Monday, April 28th. Jefferies Financial Group set a $44.00 price target on shares of Summit Therapeutics and gave the company a “buy” rating in a research report on Friday, April 25th. Finally, Wall Street Zen upgraded shares of Summit Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $37.40.

Summit Therapeutics Profile

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.