Virtus ETF Advisers LLC Sells 7,411 Shares of Summit Therapeutics Inc. (NASDAQ:SMMT)

Virtus ETF Advisers LLC reduced its holdings in Summit Therapeutics Inc. (NASDAQ:SMMT) by 65.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,979 shares of the company’s stock after selling 7,411 shares during the quarter. Virtus ETF Advisers LLC’s holdings in Summit Therapeutics were worth $71,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SMMT. Virtu Financial LLC bought a new stake in Summit Therapeutics in the third quarter worth approximately $925,000. Franklin Resources Inc. bought a new stake in Summit Therapeutics in the third quarter worth approximately $2,091,000. Principal Financial Group Inc. increased its holdings in Summit Therapeutics by 60.9% in the third quarter. Principal Financial Group Inc. now owns 58,147 shares of the company’s stock worth $1,273,000 after purchasing an additional 22,014 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in Summit Therapeutics in the fourth quarter worth approximately $444,000. Finally, Assenagon Asset Management S.A. bought a new stake in Summit Therapeutics in the fourth quarter worth approximately $229,000. 4.61% of the stock is currently owned by institutional investors.

Summit Therapeutics Trading Up 2.7 %

Shares of Summit Therapeutics stock opened at $24.11 on Tuesday. The stock has a fifty day simple moving average of $21.00 and a 200 day simple moving average of $20.17. Summit Therapeutics Inc. has a 12-month low of $2.10 and a 12-month high of $36.91. The company has a market capitalization of $17.79 billion, a P/E ratio of -86.10 and a beta of -0.46.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings data on Monday, February 24th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $0.20 million during the quarter. On average, analysts predict that Summit Therapeutics Inc. will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

SMMT has been the subject of several recent research reports. HC Wainwright restated a “buy” rating and set a $44.00 price objective on shares of Summit Therapeutics in a report on Monday. StockNews.com upgraded Summit Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Cantor Fitzgerald restated an “overweight” rating on shares of Summit Therapeutics in a report on Wednesday, April 23rd. JMP Securities restated a “market outperform” rating and set a $40.00 price objective on shares of Summit Therapeutics in a report on Monday. Finally, Jefferies Financial Group set a $44.00 price objective on Summit Therapeutics and gave the company a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.50.

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.