Summit Therapeutics (NASDAQ:SMMT) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Summit Therapeutics (NASDAQ:SMMT – Get Rating) from a sell rating to a hold rating in a report released on Tuesday morning.

Summit Therapeutics Stock Down 7.0 %

SMMT stock opened at $4.15 on Tuesday. The company has a market capitalization of $835.48 million, a PE ratio of -5.12 and a beta of -0.97. The stock’s 50 day moving average is $3.19 and its two-hundred day moving average is $1.86. Summit Therapeutics has a 52-week low of $0.66 and a 52-week high of $5.78.

Summit Therapeutics (NASDAQ:SMMT – Get Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.14) EPS for the quarter. Summit Therapeutics had a negative return on equity of 104.32% and a negative net margin of 1,012.41%. The firm had revenue of $5.68 million during the quarter.

Institutional Investors Weigh In On Summit Therapeutics

Large investors have recently bought and sold shares of the business. Polar Capital Holdings Plc lifted its stake in shares of Summit Therapeutics by 2.5% in the 1st quarter. Polar Capital Holdings Plc now owns 6,272,509 shares of the company’s stock valued at $15,368,000 after purchasing an additional 154,598 shares during the period. Hoylecohen LLC grew its holdings in shares of Summit Therapeutics by 97.2% in the 2nd quarter. Hoylecohen LLC now owns 30,432 shares of the company’s stock valued at $30,000 after acquiring an additional 15,000 shares in the last quarter. Renaissance Technologies LLC bought a new position in Summit Therapeutics during the second quarter worth about $49,000. Millennium Management LLC bought a new stake in shares of Summit Therapeutics during the second quarter worth approximately $457,000. Finally, BlackRock Inc. raised its position in shares of Summit Therapeutics by 39.3% in the third quarter. BlackRock Inc. now owns 421,086 shares of the company’s stock valued at $500,000 after buying an additional 118,878 shares in the last quarter. 1.59% of the stock is currently owned by institutional investors.

About Summit Therapeutics

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Summit Therapeutics Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat infectious diseases in the United States and Latin America. It conducts clinical programs focusing on Clostridioides difficile infection (CDI). The company's lead product candidate is ridinilazole, an orally administered small molecule antibiotic that is in Phase III clinical trials for the treatment of CDI.