Fullcircle Wealth LLC Has $250,000 Stock Position in Summit Therapeutics Inc. (NASDAQ:SMMT)

Fullcircle Wealth LLC lessened its stake in shares of Summit Therapeutics Inc. (NASDAQ:SMMT) by 7.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,250 shares of the company’s stock after selling 959 shares during the quarter. Fullcircle Wealth LLC’s holdings in Summit Therapeutics were worth $250,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Hoylecohen LLC increased its position in Summit Therapeutics by 2.4% in the 2nd quarter. Hoylecohen LLC now owns 86,408 shares of the company’s stock valued at $674,000 after acquiring an additional 2,000 shares during the period. Russell Investments Group Ltd. raised its position in Summit Therapeutics by 142.2% during the 1st quarter. Russell Investments Group Ltd. now owns 6,096 shares of the company’s stock worth $25,000 after purchasing an additional 3,579 shares during the last quarter. Virtu Financial LLC lifted its holdings in Summit Therapeutics by 23.3% during the 1st quarter. Virtu Financial LLC now owns 20,372 shares of the company’s stock worth $84,000 after buying an additional 3,846 shares during the period. Creative Planning grew its position in shares of Summit Therapeutics by 45.0% in the 3rd quarter. Creative Planning now owns 15,633 shares of the company’s stock valued at $342,000 after buying an additional 4,851 shares during the last quarter. Finally, Alpine Global Management LLC increased its stake in shares of Summit Therapeutics by 16.7% in the first quarter. Alpine Global Management LLC now owns 35,000 shares of the company’s stock valued at $145,000 after buying an additional 5,000 shares during the period. 4.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SMMT has been the topic of several analyst reports. Stifel Nicolaus upped their target price on Summit Therapeutics from $25.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Citigroup cut shares of Summit Therapeutics from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $19.00 to $23.00 in a research report on Friday, September 27th. Finally, HC Wainwright dropped their price objective on Summit Therapeutics from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday.

Summit Therapeutics Trading Up 2.2 %

NASDAQ:SMMT opened at $18.99 on Friday. Summit Therapeutics Inc. has a 12 month low of $1.64 and a 12 month high of $33.89. The stock has a market capitalization of $14.00 billion, a price-to-earnings ratio of -67.82 and a beta of -0.92. The firm has a fifty day simple moving average of $19.96 and a two-hundred day simple moving average of $11.92.

Summit Therapeutics (NASDAQ:SMMT) last issued its earnings results on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. Equities analysts predict that Summit Therapeutics Inc. will post -0.27 earnings per share for the current fiscal year.

Summit Therapeutics 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.