SG Americas Securities LLC Sells 19,587 Shares of Summit Therapeutics Inc. (NASDAQ:SMMT)

SG Americas Securities LLC lessened its stake in Summit Therapeutics Inc. (NASDAQ:SMMT) by 59.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,169 shares of the company’s stock after selling 19,587 shares during the period. SG Americas Securities LLC’s holdings in Summit Therapeutics were worth $235,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Wealth Management Partners LLC grew its holdings in shares of Summit Therapeutics by 10.2% during the fourth quarter. Wealth Management Partners LLC now owns 97,383 shares of the company’s stock valued at $1,738,000 after buying an additional 9,000 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Summit Therapeutics in the fourth quarter valued at approximately $29,000. Avanza Fonder AB bought a new position in shares of Summit Therapeutics in the fourth quarter worth approximately $115,000. Assenagon Asset Management S.A. bought a new stake in Summit Therapeutics in the 4th quarter worth approximately $229,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in Summit Therapeutics during the 4th quarter valued at about $444,000. Institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Trading Down 0.5 %

Shares of SMMT opened at $20.67 on Friday. Summit Therapeutics Inc. has a 12 month low of $2.10 and a 12 month high of $33.89. The firm has a market cap of $15.24 billion, a PE ratio of -73.82 and a beta of -0.88. The stock has a fifty day moving average price of $19.23 and a 200-day moving average price of $18.13.

Wall Street Analysts Forecast Growth

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