Hoylecohen LLC Increases Position in Summit Therapeutics Inc. (NASDAQ:SMMT)

Hoylecohen LLC grew its stake in Summit Therapeutics Inc. (NASDAQ:SMMT) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 86,408 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. Hoylecohen LLC’s holdings in Summit Therapeutics were worth $674,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Summit Therapeutics by 131.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,476 shares of the company’s stock worth $168,000 after purchasing an additional 22,977 shares during the last quarter. Vanguard Group Inc. increased its position in Summit Therapeutics by 3.6% during the first quarter. Vanguard Group Inc. now owns 7,269,243 shares of the company’s stock worth $30,095,000 after buying an additional 254,261 shares during the last quarter. Virtu Financial LLC increased its holdings in shares of Summit Therapeutics by 23.3% during the 1st quarter. Virtu Financial LLC now owns 20,372 shares of the company’s stock valued at $84,000 after acquiring an additional 3,846 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Summit Therapeutics by 55.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,727 shares of the company’s stock valued at $104,000 after purchasing an additional 14,098 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Summit Therapeutics by 212.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 21,144 shares of the company’s stock worth $55,000 after acquiring an additional 14,384 shares during the last quarter. Institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Stock Performance

Shares of NASDAQ:SMMT traded down $0.27 during midday trading on Friday, hitting $11.60. 1,272,904 shares of the stock were exchanged, compared to its average volume of 1,874,040. The business’s 50-day moving average price is $9.11 and its 200 day moving average price is $6.10. Summit Therapeutics Inc. has a 12 month low of $1.52 and a 12 month high of $11.90. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of -72.50 and a beta of -0.97.

Analyst Ratings Changes

Several brokerages have recently commented on SMMT. Stifel Nicolaus boosted their target price on shares of Summit Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Citigroup boosted their target price on shares of Summit Therapeutics from $7.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, HC Wainwright initiated coverage on Summit Therapeutics in a report on Monday, August 12th. They issued a “buy” rating and a $16.00 price target on the stock.

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.