XTX Topco Ltd Buys New Shares in Summit Therapeutics Inc. (NASDAQ:SMMT)

XTX Topco Ltd purchased a new position in Summit Therapeutics Inc. (NASDAQ:SMMT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,500 shares of the company’s stock, valued at approximately $121,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in Summit Therapeutics by 142.2% in the 1st quarter. Russell Investments Group Ltd. now owns 6,096 shares of the company’s stock valued at $25,000 after buying an additional 3,579 shares in the last quarter. Fullcircle Wealth LLC bought a new stake in shares of Summit Therapeutics during the second quarter valued at approximately $95,000. CIBC Asset Management Inc acquired a new position in shares of Summit Therapeutics during the second quarter worth approximately $154,000. Virtu Financial LLC lifted its holdings in shares of Summit Therapeutics by 23.3% in the 1st quarter. Virtu Financial LLC now owns 20,372 shares of the company’s stock worth $84,000 after purchasing an additional 3,846 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in Summit Therapeutics in the 1st quarter valued at $100,000. 4.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SMMT shares. Citigroup downgraded shares of Summit Therapeutics from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $19.00 to $23.00 in a report on Friday, September 27th. HC Wainwright lifted their price target on Summit Therapeutics from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus boosted their price objective on Summit Therapeutics from $25.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th.

Summit Therapeutics Price Performance

NASDAQ SMMT opened at $20.10 on Wednesday. The company has a fifty day moving average price of $15.82 and a 200-day moving average price of $9.32. The firm has a market cap of $14.56 billion, a price-to-earnings ratio of -125.63 and a beta of -0.99. Summit Therapeutics Inc. has a 1 year low of $1.64 and a 1 year high of $33.89.

Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. On average, research analysts anticipate that Summit Therapeutics Inc. will post -0.27 EPS for the current fiscal year.

Summit Therapeutics Company 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.