FORA Capital LLC Purchases Shares of 128,894 Summit Therapeutics Inc. (NASDAQ:SMMT)

FORA Capital LLC acquired a new stake in Summit Therapeutics Inc. (NASDAQ:SMMT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 128,894 shares of the company’s stock, valued at approximately $2,823,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CreativeOne Wealth LLC lifted its stake in Summit Therapeutics by 74.1% in the third quarter. CreativeOne Wealth LLC now owns 20,195 shares of the company’s stock worth $442,000 after acquiring an additional 8,595 shares during the last quarter. 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 in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Summit Therapeutics by 43.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 295,629 shares of the company’s stock valued at $6,474,000 after purchasing an additional 89,572 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Summit Therapeutics during the 3rd quarter worth $2,038,000. Finally, Cerity Partners LLC acquired a new position in shares of Summit Therapeutics during the third quarter worth $2,178,000. 4.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SMMT has been the topic of a number of analyst 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 restated a “buy” rating and set a $44.00 target price on shares of Summit Therapeutics in a research note on Monday, November 18th. Citigroup lowered shares of Summit Therapeutics from a “buy” rating to a “neutral” rating and increased their price target for the company from $19.00 to $23.00 in a research note on Friday, September 27th. Finally, JMP Securities assumed 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 objective for the company.

Summit Therapeutics Price Performance

Shares of SMMT stock traded down $0.18 during trading hours on Wednesday, hitting $19.02. The stock had a trading volume of 218,592 shares, compared to its average volume of 3,513,982. The stock’s 50 day moving average is $20.54 and its 200 day moving average is $13.85. Summit Therapeutics Inc. has a twelve month low of $1.89 and a twelve month 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.