Creative Planning Has $342,000 Position in Summit Therapeutics Inc. (NASDAQ:SMMT)

Creative Planning grew its stake in Summit Therapeutics Inc. (NASDAQ:SMMT) by 45.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,633 shares of the company’s stock after purchasing an additional 4,851 shares during the period. Creative Planning’s holdings in Summit Therapeutics were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SMMT. Russell Investments Group Ltd. boosted its stake in shares of Summit Therapeutics by 142.2% in the 1st 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 in the last quarter. Virtu Financial LLC boosted its stake 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 valued at $84,000 after purchasing an additional 3,846 shares in the last quarter. Fullcircle Wealth LLC acquired a new stake in shares of Summit Therapeutics in the 2nd quarter valued at approximately $95,000. EntryPoint Capital LLC acquired a new stake in shares of Summit Therapeutics in the 1st quarter valued at approximately $100,000. Finally, XTX Topco Ltd acquired a new stake in Summit Therapeutics during the 2nd quarter worth approximately $121,000. 4.61% of the stock is currently owned by institutional investors and hedge funds.

Summit Therapeutics Stock Performance

Summit Therapeutics stock opened at $21.41 on Friday. Summit Therapeutics Inc. has a 52-week low of $1.64 and a 52-week high of $33.89. The firm has a 50 day moving average price of $20.72 and a two-hundred day moving average price of $12.46. The firm has a market cap of $15.79 billion, a price-to-earnings ratio of -76.46 and a beta of -0.92.

Summit Therapeutics (NASDAQ:SMMT) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. As a group, equities research analysts predict that Summit Therapeutics Inc. will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on SMMT. Stifel Nicolaus lifted their target price on shares of Summit Therapeutics from $25.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Citigroup downgraded shares of Summit Therapeutics from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $19.00 to $23.00 in a research report on Friday, September 27th. HC Wainwright cut their target price on shares of Summit Therapeutics from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, JMP Securities began coverage on shares of Summit Therapeutics in a research report on Monday, November 4th. They set a “market outperform” rating and a $32.00 target price 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.