Blankinship & Foster LLC Purchases Shares of 12,777 Summit Therapeutics Inc. (NASDAQ:SMMT)

Blankinship & Foster LLC purchased a new stake in shares of Summit Therapeutics Inc. (NASDAQ:SMMT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 12,777 shares of the company’s stock, valued at approximately $228,000.

Other institutional investors have also modified their holdings of the company. Baker BROS. Advisors LP lifted its stake in shares of Summit Therapeutics by 5.2% in the 3rd quarter. Baker BROS. Advisors LP now owns 24,424,865 shares of the company’s stock valued at $534,905,000 after purchasing an additional 1,202,643 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Summit Therapeutics during the 3rd quarter worth approximately $2,178,000. FMR LLC lifted its stake in shares of Summit Therapeutics by 9.8% during the 3rd quarter. FMR LLC now owns 8,303,119 shares of the company’s stock worth $181,838,000 after acquiring an additional 737,692 shares during the last quarter. Griffin Asset Management Inc. lifted its stake in shares of Summit Therapeutics by 63.3% during the 4th quarter. Griffin Asset Management Inc. now owns 110,660 shares of the company’s stock worth $1,975,000 after acquiring an additional 42,900 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Summit Therapeutics during the 4th quarter worth approximately $444,000. 4.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SMMT has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on Summit Therapeutics in a research note on Wednesday, December 11th. They set an “overweight” rating and a $30.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $44.00 price target on shares of Summit Therapeutics in a research note on Tuesday, February 25th. Truist Financial initiated coverage on Summit Therapeutics in a research note on Wednesday, January 8th. They set a “buy” rating and a $35.00 price target for the company. StockNews.com upgraded Summit Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, The Goldman Sachs Group initiated coverage on Summit Therapeutics in a report on Friday, February 28th. They set a “buy” rating and a $42.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.63.

Summit Therapeutics Trading Down 6.4 %

Shares of NASDAQ:SMMT opened at $17.78 on Friday. Summit Therapeutics Inc. has a 12-month low of $2.10 and a 12-month high of $33.89. The business’s fifty day simple moving average is $20.00 and its 200-day simple moving average is $19.51. The company has a market capitalization of $13.12 billion, a PE ratio of -63.50 and a beta of -1.04.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings results on Monday, February 24th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The company had revenue of $0.20 million during the quarter. Research analysts predict that Summit Therapeutics Inc. will post -0.3 EPS for the current year.

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.