Summit Therapeutics Inc. (NASDAQ:SMMT) CFO Ankur Dhingra Buys 100,000 Shares of Stock

Summit Therapeutics Inc. (NASDAQ:SMMT) CFO Ankur Dhingra acquired 100,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were bought at an average cost of $3.75 per share, with a total value of $375,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 354,958 shares of the company’s stock, valued at $1,331,092.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Summit Therapeutics Stock Performance

Shares of NASDAQ SMMT opened at $3.75 on Thursday. The firm has a fifty day moving average price of $4.21 and a 200-day moving average price of $2.87. The company has a debt-to-equity ratio of 1.29, a current ratio of 9.30 and a quick ratio of 9.30. The stock has a market cap of $2.63 billion, a PE ratio of -2.45 and a beta of -1.21. Summit Therapeutics Inc. has a 1 year low of $1.30 and a 1 year high of $5.22.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $0.20 million for the quarter.

Institutional Trading of Summit Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Summit Therapeutics by 15.1% during the fourth quarter. Vanguard Group Inc. now owns 7,014,982 shares of the company’s stock worth $18,309,000 after acquiring an additional 919,307 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Summit Therapeutics by 1.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 194,408 shares of the company’s stock worth $507,000 after acquiring an additional 2,210 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Summit Therapeutics during the fourth quarter worth $43,000. Barclays PLC boosted its position in shares of Summit Therapeutics by 115.2% during the fourth quarter. Barclays PLC now owns 318,565 shares of the company’s stock worth $831,000 after acquiring an additional 170,549 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of Summit Therapeutics by 45.1% during the fourth quarter. Nuveen Asset Management LLC now owns 565,624 shares of the company’s stock worth $1,476,000 after acquiring an additional 175,877 shares during the last quarter. 4.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus assumed coverage on shares of Summit Therapeutics in a report on Tuesday. They set a “buy” rating and a $8.00 target price for the company.

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.