CreativeOne Wealth LLC Has $442,000 Holdings in Summit Therapeutics Inc. (NASDAQ:SMMT)

CreativeOne Wealth LLC boosted its stake in Summit Therapeutics Inc. (NASDAQ:SMMT) by 74.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,195 shares of the company’s stock after purchasing an additional 8,595 shares during the quarter. CreativeOne Wealth LLC’s holdings in Summit Therapeutics were worth $442,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in shares of Summit Therapeutics by 142.2% in the 1st quarter. Russell Investments Group Ltd. now owns 6,096 shares of the company’s stock valued at $25,000 after acquiring an additional 3,579 shares during the period. Darwin Wealth Management LLC acquired a new stake in Summit Therapeutics in the third quarter worth $25,000. Covestor Ltd boosted its position in shares of 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 purchasing an additional 1,190 shares in the last quarter. Virtu Financial LLC grew its holdings in shares of Summit Therapeutics by 23.3% in the 1st quarter. Virtu Financial LLC now owns 20,372 shares of the company’s stock valued at $84,000 after buying an additional 3,846 shares during the period. Finally, Fullcircle Wealth LLC bought a new stake in shares of Summit Therapeutics in the 2nd quarter valued at $95,000. Institutional investors and hedge funds own 4.61% of the company’s stock.

Summit Therapeutics Price Performance

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

Wall Street Analyst Weigh In

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

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.