Virtu Financial LLC Sells 15,365 Shares of Summit Therapeutics Inc. (NASDAQ:SMMT)

Virtu Financial LLC trimmed its holdings in Summit Therapeutics Inc. (NASDAQ:SMMT) by 36.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,878 shares of the company’s stock after selling 15,365 shares during the period. Virtu Financial LLC’s holdings in Summit Therapeutics were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Baker BROS. Advisors LP raised its holdings 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 worth $534,905,000 after acquiring an additional 1,202,643 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of Summit Therapeutics in the third quarter worth approximately $2,178,000. FMR LLC lifted its holdings in shares of Summit Therapeutics by 9.8% in the third quarter. FMR LLC now owns 8,303,119 shares of the company’s stock valued at $181,838,000 after purchasing an additional 737,692 shares in the last quarter. Griffin Asset Management Inc. boosted its position in shares of Summit Therapeutics by 63.3% during the fourth quarter. Griffin Asset Management Inc. now owns 110,660 shares of the company’s stock valued at $1,975,000 after buying an additional 42,900 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in Summit Therapeutics during the fourth quarter worth $444,000. 4.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SMMT has been the topic of a number of analyst reports. Cantor Fitzgerald began coverage on shares of Summit Therapeutics in a report on Friday, March 21st. They set an “overweight” rating on the stock. Truist Financial started coverage on shares of Summit Therapeutics in a report on Wednesday, January 8th. They set a “buy” rating and a $35.00 price target on the stock. The Goldman Sachs Group began coverage on shares of Summit Therapeutics in a research note on Friday, February 28th. They issued a “buy” rating and a $42.00 price objective for the company. Jefferies Financial Group started 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, Wells Fargo & Company initiated coverage on Summit Therapeutics in a research report on Wednesday, December 11th. They set an “overweight” rating and a $30.00 price target for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.11.

Summit Therapeutics Price Performance

NASDAQ:SMMT opened at $20.24 on Wednesday. Summit Therapeutics Inc. has a 1 year low of $2.10 and a 1 year high of $33.89. The business has a fifty day simple moving average of $20.41 and a two-hundred day simple moving average of $20.18. The company has a market capitalization of $14.93 billion, a P/E ratio of -72.28 and a beta of -1.04.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings data on Monday, February 24th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $0.20 million during the quarter. As a group, analysts anticipate that Summit Therapeutics Inc. will post -0.3 earnings per share 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.