SG Americas Securities LLC Decreases Position in Summit Therapeutics Inc. (NASDAQ:SMMT)

SG Americas Securities LLC decreased its position in Summit Therapeutics Inc. (NASDAQ:SMMT) by 59.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,169 shares of the company’s stock after selling 19,587 shares during the quarter. SG Americas Securities LLC’s holdings in Summit Therapeutics were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Darwin Wealth Management LLC purchased a new position in shares of Summit Therapeutics in the 3rd quarter valued at $25,000. Covestor Ltd boosted its position in shares of Summit Therapeutics by 2,767.4% in the 3rd quarter. Covestor Ltd now owns 1,233 shares of the company’s stock valued at $27,000 after purchasing an additional 1,190 shares during the period. Brooklyn Investment Group acquired a new position in Summit Therapeutics during the fourth quarter valued at $29,000. Fred Alger Management LLC acquired a new position in shares of Summit Therapeutics in the third quarter worth $105,000. Finally, Avanza Fonder AB acquired a new position in shares of Summit Therapeutics during the 4th quarter worth $115,000. Hedge funds and other institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Price Performance

Summit Therapeutics stock opened at $20.67 on Friday. The stock’s fifty day moving average price is $19.23 and its two-hundred day moving average price is $18.13. The firm has a market cap of $15.24 billion, a PE ratio of -73.82 and a beta of -0.88. Summit Therapeutics Inc. has a one year low of $2.10 and a one year high of $33.89.

Wall Street Analysts Forecast Growth

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

Summit Therapeutics Company 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.