Verus Capital Partners LLC Makes New $182,000 Investment in Summit Therapeutics Inc. (NASDAQ:SMMT)

Verus Capital Partners LLC purchased a new position in shares of Summit Therapeutics Inc. (NASDAQ:SMMT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,210 shares of the company’s stock, valued at approximately $182,000.

A number of other institutional investors have also recently bought and sold shares of the business. CIBC Asset Management Inc increased its position in Summit Therapeutics by 3.8% during the third quarter. CIBC Asset Management Inc now owns 20,445 shares of the company’s stock worth $448,000 after buying an additional 740 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Summit Therapeutics during the third quarter worth approximately $25,000. Covestor Ltd increased its position in Summit Therapeutics by 2,767.4% during the third quarter. Covestor Ltd now owns 1,233 shares of the company’s stock worth $27,000 after buying an additional 1,190 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Summit Therapeutics in the fourth quarter valued at approximately $29,000. Finally, World Equity Group Inc. grew its position in shares of Summit Therapeutics by 16.1% in the third quarter. World Equity Group Inc. now owns 14,842 shares of the company’s stock valued at $325,000 after purchasing an additional 2,063 shares during the last quarter. Institutional investors and hedge funds own 4.61% of the company’s stock.

Summit Therapeutics Trading Up 11.9 %

Shares of SMMT stock opened at $20.69 on Friday. The stock has a market cap of $15.26 billion, a P/E ratio of -73.89 and a beta of -0.88. The stock has a 50 day simple moving average of $19.99 and a 200 day simple moving average of $19.31. Summit Therapeutics Inc. has a 1 year low of $2.10 and a 1 year high of $33.89.

Summit Therapeutics (NASDAQ:SMMT) last released its earnings results on Monday, February 24th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $0.20 million for the quarter. Analysts forecast that Summit Therapeutics Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. StockNews.com downgraded Summit Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Wells Fargo & Company assumed coverage on Summit Therapeutics in a research report on Wednesday, December 11th. They issued an “overweight” rating and a $30.00 target price on the stock. Truist Financial assumed coverage on Summit Therapeutics in a research report on Wednesday, January 8th. They issued a “buy” rating and a $35.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $44.00 target price on shares of Summit Therapeutics in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group assumed coverage on Summit Therapeutics in a research report on Friday, December 6th. They issued a “buy” rating and a $31.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.63.

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.