Calamos Advisors LLC Cuts Stock Holdings in Summit Therapeutics Inc. (NASDAQ:SMMT)

Calamos Advisors LLC decreased its position in Summit Therapeutics Inc. (NASDAQ:SMMT) by 49.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,821 shares of the company’s stock after selling 22,926 shares during the period. Calamos Advisors LLC’s holdings in Summit Therapeutics were worth $425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of Summit Therapeutics by 3.8% in the third quarter. CIBC Asset Management Inc now owns 20,445 shares of the company’s stock valued at $448,000 after buying an additional 740 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Summit Therapeutics in the 3rd quarter worth $25,000. Covestor Ltd increased its holdings in Summit Therapeutics by 2,767.4% in the 3rd quarter. Covestor Ltd now owns 1,233 shares of the company’s stock worth $27,000 after acquiring an additional 1,190 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Summit Therapeutics during the fourth quarter worth about $29,000. Finally, World Equity Group Inc. increased its stake in shares of Summit Therapeutics by 16.1% during the third quarter. World Equity Group Inc. now owns 14,842 shares of the company’s stock worth $325,000 after purchasing an additional 2,063 shares in the last quarter. Hedge funds and other institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Stock Up 0.8 %

Shares of NASDAQ:SMMT opened at $20.78 on Thursday. The business has a fifty day moving average of $19.19 and a two-hundred day moving average of $18.11. The stock has a market cap of $15.32 billion, a P/E ratio of -74.21 and a beta of -0.88. Summit Therapeutics Inc. has a 52-week low of $2.10 and a 52-week high of $33.89.

Wall Street Analyst Weigh In

SMMT has been the subject of several research reports. Truist Financial began coverage on Summit Therapeutics in a research note on Wednesday, January 8th. They set a “buy” rating and a $35.00 price objective for the company. Jefferies Financial Group started coverage on Summit Therapeutics in a research note on Friday, December 6th. They issued a “buy” rating and a $31.00 price objective for the company. Wells Fargo & Company started coverage on shares of Summit Therapeutics in a research note on Wednesday, December 11th. They set an “overweight” rating and a $30.00 target price on the stock. JMP Securities initiated coverage on shares of Summit Therapeutics in a research report on Monday, November 4th. They issued a “market outperform” rating and a $32.00 target price for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $44.00 price target on shares of Summit Therapeutics in a research note on Tuesday, January 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.57.

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.