CreativeOne Wealth LLC Acquires 8,595 Shares of Summit Therapeutics Inc. (NASDAQ:SMMT)

CreativeOne Wealth LLC grew its stake in Summit Therapeutics Inc. (NASDAQ:SMMT) by 74.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,195 shares of the company’s stock after acquiring an additional 8,595 shares during the period. CreativeOne Wealth LLC’s holdings in Summit Therapeutics were worth $442,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of Summit Therapeutics by 9.8% in the 3rd 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 during the period. Vanguard Group Inc. grew its stake in Summit Therapeutics by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 7,269,243 shares of the company’s stock valued at $30,095,000 after buying an additional 254,261 shares during the last quarter. Millennium Management LLC acquired a new stake in Summit Therapeutics during the second quarter worth approximately $15,154,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Summit Therapeutics by 53.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,432,713 shares of the company’s stock worth $31,376,000 after acquiring an additional 497,984 shares during the period. Finally, abrdn plc acquired a new position in shares of Summit Therapeutics in the third quarter valued at approximately $24,885,000. Institutional investors and hedge funds own 4.61% of the company’s stock.

Analyst Ratings Changes

SMMT has been the subject of several research reports. Stifel Nicolaus lifted their price target on Summit Therapeutics from $25.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. HC Wainwright reiterated a “buy” rating and issued a $44.00 price objective on shares of Summit Therapeutics in a research note on Monday, November 18th. Citigroup lowered Summit Therapeutics from a “buy” rating to a “neutral” rating and increased their target price for the stock from $19.00 to $23.00 in a report on Friday, September 27th. Finally, JMP Securities initiated coverage on shares of Summit Therapeutics in a research report on Monday, November 4th. They set a “market outperform” rating and a $32.00 price target on the stock.

Summit Therapeutics Trading Down 2.5 %

Shares of Summit Therapeutics stock opened at $18.46 on Monday. The firm has a market capitalization of $13.61 billion, a PE ratio of -65.93 and a beta of -0.92. The firm’s 50 day moving average is $20.23 and its 200 day moving average is $14.15. Summit Therapeutics Inc. has a 1 year low of $1.89 and a 1 year high of $33.89.

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.