Summit Therapeutics Inc. (NASDAQ:SMMT) Holdings Increased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Summit Therapeutics Inc. (NASDAQ:SMMT) by 55.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,727 shares of the company’s stock after acquiring an additional 14,098 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Summit Therapeutics were worth $104,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Federated Hermes Inc. bought a new stake in shares of Summit Therapeutics in the 3rd quarter worth $33,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Summit Therapeutics by 95.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,903 shares of the company’s stock worth $33,000 after purchasing an additional 8,758 shares during the last quarter. Wealth Management Partners LLC acquired a new stake in Summit Therapeutics during the fourth quarter valued at approximately $39,000. Rathbones Group PLC acquired a new position in Summit Therapeutics in the third quarter worth approximately $57,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Summit Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 74,971 shares of the company’s stock worth $196,000 after acquiring an additional 19,011 shares in the last quarter. Institutional investors and hedge funds own 4.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SMMT shares. Stifel Nicolaus began coverage on Summit Therapeutics in a research report on Tuesday, March 26th. They issued a “buy” rating and a $8.00 price target for the company. Citigroup started coverage on shares of Summit Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $7.00 price target for the company.

Summit Therapeutics Trading Down 3.6 %

Shares of NASDAQ SMMT opened at $4.78 on Friday. The firm has a market capitalization of $3.36 billion, a PE ratio of -29.88 and a beta of -1.13. Summit Therapeutics Inc. has a one year low of $1.50 and a one year high of $5.39. The company has a current ratio of 6.97, a quick ratio of 6.97 and a debt-to-equity ratio of 2.26. The business has a 50-day moving average price of $4.07 and a two-hundred day moving average price of $3.33.

Summit Therapeutics (NASDAQ:SMMT) last issued its earnings results on Tuesday, February 20th. The company reported ($0.05) EPS for the quarter. The business had revenue of $0.20 million during the quarter. As a group, analysts predict that Summit Therapeutics Inc. will post -0.25 earnings per share for the current fiscal year.

Insider Activity at Summit Therapeutics

In related news, CFO Ankur Dhingra bought 100,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were bought at an average cost of $3.75 per share, for a total transaction of $375,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 354,958 shares in the company, valued at $1,331,092.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Mahkam Zanganeh bought 30,000 shares of Summit Therapeutics stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average price of $3.75 per share, for a total transaction of $112,500.00. Following the completion of the purchase, the chief executive officer now owns 30,000 shares in the company, valued at $112,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ankur Dhingra bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was purchased at an average price of $3.75 per share, with a total value of $375,000.00. Following the completion of the purchase, the chief financial officer now directly owns 354,958 shares of the company’s stock, valued at approximately $1,331,092.50. The disclosure for this purchase can be found here. 83.70% of the stock is owned by company insiders.

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.