99,442 Shares in Summit Therapeutics Inc. (NASDAQ:SMMT) Bought by Cerity Partners LLC

Cerity Partners LLC bought a new stake in shares of Summit Therapeutics Inc. (NASDAQ:SMMT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 99,442 shares of the company’s stock, valued at approximately $2,178,000.

Several other hedge funds have also recently added to or reduced their stakes in SMMT. Russell Investments Group Ltd. raised its holdings in shares of Summit Therapeutics by 142.2% during the first quarter. Russell Investments Group Ltd. now owns 6,096 shares of the company’s stock valued at $25,000 after purchasing an additional 3,579 shares during the period. Vanguard Group Inc. grew its holdings in shares of Summit Therapeutics by 3.6% during the first quarter. Vanguard Group Inc. now owns 7,269,243 shares of the company’s stock valued at $30,095,000 after buying an additional 254,261 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Summit Therapeutics by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,145 shares of the company’s stock worth $138,000 after acquiring an additional 5,139 shares in the last quarter. Virtu Financial LLC raised 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 acquiring an additional 3,846 shares during the last quarter. Finally, Hoylecohen LLC lifted its position in Summit Therapeutics by 2.4% in the 2nd quarter. Hoylecohen LLC now owns 86,408 shares of the company’s stock valued at $674,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 4.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SMMT. Citigroup downgraded shares of Summit Therapeutics from a “buy” rating to a “neutral” rating and increased their target price for the company from $19.00 to $23.00 in a report on Friday, September 27th. Stifel Nicolaus increased their price target on shares of Summit Therapeutics from $25.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. JMP Securities initiated coverage on shares of Summit Therapeutics in a report on Monday, November 4th. They set a “market outperform” rating and a $32.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $44.00 price objective on shares of Summit Therapeutics in a report on Monday, November 18th.

Summit Therapeutics Stock Down 2.5 %

SMMT stock opened at $18.46 on Monday. The business has a 50 day moving average of $20.23 and a 200 day moving average of $14.15. The firm has a market cap of $13.61 billion, a PE ratio of -65.93 and a beta of -0.92. Summit Therapeutics Inc. has a twelve month low of $1.89 and a twelve month 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.