Summit Therapeutics (NASDAQ:SMMT) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Summit Therapeutics (NASDAQ:SMMT – Get Rating) from a sell rating to a hold rating in a research note released on Tuesday morning.

Summit Therapeutics Stock Down 7.0 %

Shares of Summit Therapeutics stock opened at $4.15 on Tuesday. The stock has a market cap of $835.48 million, a PE ratio of -5.12 and a beta of -0.97. Summit Therapeutics has a 12 month low of $0.66 and a 12 month high of $5.78. The business has a fifty day simple moving average of $3.19 and a 200-day simple moving average of $1.86.

Summit Therapeutics (NASDAQ:SMMT – Get Rating) last issued its quarterly earnings results on Wednesday, November 9th. The company reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $5.68 million for the quarter. Summit Therapeutics had a negative net margin of 1,012.41% and a negative return on equity of 104.32%.

Hedge Funds Weigh In On Summit Therapeutics

A number of large investors have recently modified their holdings of SMMT. Polar Capital Holdings Plc raised its holdings in Summit Therapeutics by 2.5% in the 1st quarter. Polar Capital Holdings Plc now owns 6,272,509 shares of the company’s stock valued at $15,368,000 after acquiring an additional 154,598 shares during the period. Hoylecohen LLC boosted its position in Summit Therapeutics by 97.2% in the second quarter. Hoylecohen LLC now owns 30,432 shares of the company’s stock valued at $30,000 after buying an additional 15,000 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Summit Therapeutics during the second quarter worth $49,000. Millennium Management LLC acquired a new position in shares of Summit Therapeutics during the second quarter worth $457,000. Finally, BlackRock Inc. raised its stake in Summit Therapeutics by 39.3% during the third quarter. BlackRock Inc. now owns 421,086 shares of the company’s stock worth $500,000 after buying an additional 118,878 shares during the last quarter. 1.59% of the stock is currently owned by institutional investors and hedge funds.

About Summit Therapeutics

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Summit Therapeutics Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat infectious diseases in the United States and Latin America. It conducts clinical programs focusing on Clostridioides difficile infection (CDI). The company's lead product candidate is ridinilazole, an orally administered small molecule antibiotic that is in Phase III clinical trials for the treatment of CDI.