Fullcircle Wealth LLC Has $292,000 Position in Summit Therapeutics Inc. (NASDAQ:SMMT)

Fullcircle Wealth LLC boosted its position in shares of Summit Therapeutics Inc. (NASDAQ:SMMT) by 45.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,365 shares of the company’s stock after buying an additional 5,115 shares during the quarter. Fullcircle Wealth LLC’s holdings in Summit Therapeutics were worth $292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Franklin Resources Inc. acquired a new stake in Summit Therapeutics during the 3rd quarter worth $2,091,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Summit Therapeutics during the fourth quarter worth $444,000. Assenagon Asset Management S.A. bought a new stake in Summit Therapeutics in the fourth quarter valued at about $229,000. Avanza Fonder AB acquired a new position in Summit Therapeutics in the fourth quarter valued at about $115,000. Finally, Brooklyn Investment Group bought a new position in Summit Therapeutics during the fourth quarter worth about $29,000. 4.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SMMT. Cantor Fitzgerald reissued an “overweight” rating on shares of Summit Therapeutics in a research note on Wednesday, April 23rd. HC Wainwright reissued a “buy” rating and issued a $44.00 price target on shares of Summit Therapeutics in a report on Monday, April 28th. Citigroup upgraded shares of Summit Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $23.00 to $35.00 in a research report on Wednesday, March 26th. Evercore ISI assumed coverage on Summit Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $30.00 target price for the company. Finally, Jefferies Financial Group set a $44.00 price target on Summit Therapeutics and gave the stock a “buy” rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.40.

Summit Therapeutics Stock Performance

NASDAQ SMMT opened at $24.65 on Friday. Summit Therapeutics Inc. has a 52 week low of $2.10 and a 52 week high of $36.91. The stock has a market capitalization of $18.31 billion, a price-to-earnings ratio of -88.03 and a beta of -0.94. The stock’s 50 day moving average price is $21.85 and its two-hundred day moving average price is $20.40.

Summit Therapeutics (NASDAQ:SMMT) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. On average, equities research analysts forecast that Summit Therapeutics Inc. will post -0.3 EPS for the current year.

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.