42,887 Shares in Summit Therapeutics Inc. (NASDAQ:SMMT) Purchased by Guggenheim Capital LLC

Guggenheim Capital LLC acquired a new stake in shares of Summit Therapeutics Inc. (NASDAQ:SMMT) in the fourth quarter, HoldingsChannel reports. The fund acquired 42,887 shares of the company’s stock, valued at approximately $765,000.

A number of other hedge funds have also recently bought and sold shares of the business. Brooklyn Investment Group purchased a new position in shares of Summit Therapeutics during the 4th quarter valued at approximately $29,000. National Bank of Canada FI bought a new position in Summit Therapeutics during the 4th quarter valued at $30,000. Steward Partners Investment Advisory LLC boosted its stake in Summit Therapeutics by 56.1% during the 4th 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 during the last quarter. Rakuten Securities Inc. acquired a new position in Summit Therapeutics during the 4th quarter worth $71,000. Finally, Avanza Fonder AB bought a new stake in shares of Summit Therapeutics in the 4th quarter worth about $115,000. Institutional investors and hedge funds own 4.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SMMT. HC Wainwright reiterated a “buy” rating and issued a $44.00 price target on shares of Summit Therapeutics in a research note on Tuesday, February 25th. Truist Financial started coverage on Summit Therapeutics in a research report on Wednesday, January 8th. They issued a “buy” rating and a $35.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Summit Therapeutics in a research report on Wednesday. Summit Redstone set a $35.00 target price on shares of Summit Therapeutics in a research note on Wednesday, March 26th. Finally, The Goldman Sachs Group started coverage on shares of Summit Therapeutics in a research report on Friday, February 28th. They issued a “buy” rating and a $42.00 price target on the stock. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.40.

Summit Therapeutics Stock Up 21.7 %

Shares of NASDAQ:SMMT opened at $33.27 on Thursday. Summit Therapeutics Inc. has a fifty-two week low of $2.10 and a fifty-two week high of $33.89. The company has a market cap of $24.54 billion, a PE ratio of -118.82 and a beta of -0.46. The company’s 50-day moving average price is $20.59 and its 200 day moving average price is $19.98.

Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings data on Monday, February 24th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $0.20 million during the quarter. As a group, equities analysts anticipate that Summit Therapeutics Inc. will post -0.3 EPS for the current year.

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.