HealthInvest Partners AB Buys 15,164 Shares of Summit Therapeutics Inc. (NASDAQ:SMMT)

HealthInvest Partners AB lifted its stake in Summit Therapeutics Inc. (NASDAQ:SMMT) by 17.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,177 shares of the company’s stock after buying an additional 15,164 shares during the quarter. Summit Therapeutics comprises 0.8% of HealthInvest Partners AB’s portfolio, making the stock its 28th biggest holding. HealthInvest Partners AB’s holdings in Summit Therapeutics were worth $1,806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SMMT. Baker BROS. Advisors LP raised its holdings in Summit Therapeutics by 5.2% during the third quarter. Baker BROS. Advisors LP now owns 24,424,865 shares of the company’s stock valued at $534,905,000 after acquiring an additional 1,202,643 shares during the period. Cerity Partners LLC purchased a new stake in shares of Summit Therapeutics during the third quarter worth about $2,178,000. FMR LLC raised its stake in Summit Therapeutics by 9.8% during the 3rd quarter. FMR LLC now owns 8,303,119 shares of the company’s stock valued at $181,838,000 after purchasing an additional 737,692 shares during the period. Griffin Asset Management Inc. lifted its holdings in Summit Therapeutics by 63.3% in the 4th quarter. Griffin Asset Management Inc. now owns 110,660 shares of the company’s stock worth $1,975,000 after purchasing an additional 42,900 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Summit Therapeutics by 69.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 139,352 shares of the company’s stock worth $3,052,000 after purchasing an additional 56,879 shares in the last quarter. 4.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SMMT shares. Wells Fargo & Company initiated coverage on shares of Summit Therapeutics in a report on Wednesday, December 11th. They issued an “overweight” rating and a $30.00 price target on the stock. JMP Securities initiated coverage on Summit Therapeutics in a report on Monday, November 4th. They issued a “market outperform” rating and a $32.00 target price on the stock. Jefferies Financial Group started coverage on Summit Therapeutics in a research report on Friday, December 6th. They issued a “buy” rating and a $31.00 target price on the stock. Truist Financial began coverage on Summit Therapeutics in a report on Wednesday, January 8th. They set a “buy” rating and a $35.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $44.00 price objective on shares of Summit Therapeutics in a report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.57.

Summit Therapeutics Stock Down 4.1 %

Shares of SMMT opened at $22.12 on Monday. The business has a fifty day moving average of $19.91 and a 200 day moving average of $19.09. The company has a market cap of $16.31 billion, a PE ratio of -79.00 and a beta of -0.88. Summit Therapeutics Inc. has a 52-week low of $2.10 and a 52-week high of $33.89.

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.