99,442 Shares in Summit Therapeutics Inc. (NASDAQ:SMMT) Acquired by Cerity Partners LLC

Cerity Partners LLC acquired a new stake in shares of Summit Therapeutics Inc. (NASDAQ:SMMTFree Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 99,442 shares of the company’s stock, valued at approximately $2,178,000.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Summit Therapeutics by 53.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,432,713 shares of the company’s stock valued at $31,376,000 after purchasing an additional 497,984 shares during the last quarter. HealthInvest Partners AB bought a new stake in Summit Therapeutics during the 3rd quarter valued at $1,884,000. Intech Investment Management LLC purchased a new stake in Summit Therapeutics in the third quarter worth about $694,000. Darwin Wealth Management LLC bought a new position in shares of Summit Therapeutics during the third quarter valued at approximately $25,000. Finally, CIBC Asset Management Inc raised its position in shares of Summit Therapeutics by 3.8% in the 3rd quarter. CIBC Asset Management Inc now owns 20,445 shares of the company’s stock worth $448,000 after acquiring an additional 740 shares in the last quarter. Hedge funds and other institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Price Performance

Summit Therapeutics stock opened at $18.46 on Monday. The stock’s fifty day moving average is $20.23 and its two-hundred day moving average is $14.15. The stock has a market cap of $13.61 billion, a PE ratio of -65.93 and a beta of -0.92. Summit Therapeutics Inc. has a 1-year low of $1.89 and a 1-year high of $33.89.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. 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 target price for the company. Citigroup downgraded shares of Summit Therapeutics from a “buy” rating to a “neutral” rating and upped their price objective for the company from $19.00 to $23.00 in a report on Friday, September 27th. HC Wainwright reiterated a “buy” rating and issued a $44.00 target price on shares of Summit Therapeutics in a research note on Monday, November 18th. Finally, Stifel Nicolaus raised their price objective on Summit Therapeutics from $25.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, September 25th.

Read Our Latest Research Report on Summit Therapeutics

About Summit Therapeutics

(Free Report)

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.

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Institutional Ownership by Quarter for Summit Therapeutics (NASDAQ:SMMT)

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