CreativeOne Wealth LLC Has $408,000 Stock Holdings in Summit Therapeutics PLC $SMMT

CreativeOne Wealth LLC grew its holdings in Summit Therapeutics PLC (NASDAQ:SMMT) by 4.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 21,169 shares of the company’s stock after buying an additional 974 shares during the quarter. CreativeOne Wealth LLC’s holdings in Summit Therapeutics were worth $408,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AlphaQuest LLC acquired a new stake in shares of Summit Therapeutics in the first quarter valued at $49,000. Lord Abbett & CO. LLC acquired a new stake in shares of Summit Therapeutics in the first quarter valued at $3,000,000. Russell Investments Group Ltd. increased its stake in shares of Summit Therapeutics by 204.3% in the first quarter. Russell Investments Group Ltd. now owns 211,004 shares of the company’s stock valued at $4,070,000 after buying an additional 141,664 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Summit Therapeutics in the first quarter valued at $4,550,000. Finally, Trivest Advisors Ltd acquired a new stake in shares of Summit Therapeutics in the first quarter valued at $907,000. 4.61% of the stock is currently owned by institutional investors and hedge funds.

Summit Therapeutics Trading Down 2.9%

Shares of SMMT opened at $23.70 on Tuesday. Summit Therapeutics PLC has a 1 year low of $11.76 and a 1 year high of $36.91. The stock has a market cap of $17.61 billion, a P/E ratio of -23.47 and a beta of -1.02. The stock’s 50-day moving average price is $25.59 and its two-hundred day moving average price is $23.14.

Summit Therapeutics (NASDAQ:SMMT) last issued its earnings results on Monday, August 11th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.66). As a group, equities analysts forecast that Summit Therapeutics PLC will post -0.3 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on SMMT. Piper Sandler began coverage on Summit Therapeutics in a research report on Monday, August 18th. They issued a “neutral” rating and a $21.00 price objective for the company. Evercore ISI lifted their price objective on Summit Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Leerink Partnrs upgraded Summit Therapeutics to a “strong sell” rating in a research report on Wednesday, June 11th. UBS Group began coverage on Summit Therapeutics in a research report on Tuesday, July 1st. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Summit Redstone set a $21.00 price objective on Summit Therapeutics in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.31.

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.