MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Holdings in Summit Therapeutics Inc. (NASDAQ:SMMT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Summit Therapeutics Inc. (NASDAQ:SMMT) by 24.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,717 shares of the company’s stock after purchasing an additional 12,546 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Summit Therapeutics were worth $1,155,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI purchased a new stake in shares of Summit Therapeutics in the 4th quarter worth $30,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Summit Therapeutics by 56.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,503 shares of the company’s stock valued at $45,000 after acquiring an additional 900 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in Summit Therapeutics in the fourth quarter worth about $71,000. Summit Investment Advisors Inc. grew its holdings in Summit Therapeutics by 12.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,621 shares of the company’s stock worth $172,000 after acquiring an additional 1,044 shares in the last quarter. Finally, Verus Capital Partners LLC purchased a new position in Summit Therapeutics during the 4th quarter valued at about $182,000. 4.61% of the stock is currently owned by hedge funds and other institutional investors.

Summit Therapeutics Trading Up 0.3%

Shares of Summit Therapeutics stock opened at $25.85 on Monday. The firm’s 50 day simple moving average is $23.00 and its two-hundred day simple moving average is $20.72. The firm has a market capitalization of $19.20 billion, a price-to-earnings ratio of -92.32 and a beta of -0.94. Summit Therapeutics Inc. has a 12-month low of $2.10 and a 12-month high of $36.91.

Summit Therapeutics (NASDAQ:SMMT) last released its earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. On average, sell-side analysts predict that Summit Therapeutics Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SMMT shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Summit Therapeutics in a research note on Wednesday, April 23rd. The Goldman Sachs Group raised their price target on shares of Summit Therapeutics from $37.00 to $41.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Summit Redstone set a $35.00 price objective on shares of Summit Therapeutics in a research note on Wednesday, March 26th. Wall Street Zen raised shares of Summit Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $40.00 target price on shares of Summit Therapeutics in a research note on Monday, April 28th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $37.40.

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.