Summit Therapeutics PLC $SMMT Position Lifted by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC grew its holdings in shares of Summit Therapeutics PLC (NASDAQ:SMMT) by 30.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 441,650 shares of the company’s stock after buying an additional 102,550 shares during the period. Hohimer Wealth Management LLC’s holdings in Summit Therapeutics were worth $7,468,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. IFP Advisors Inc lifted its position in Summit Therapeutics by 792.3% during the 3rd quarter. IFP Advisors Inc now owns 1,508 shares of the company’s stock valued at $26,000 after acquiring an additional 1,339 shares during the period. Toth Financial Advisory Corp bought a new position in shares of Summit Therapeutics during the third quarter valued at approximately $30,000. CX Institutional lifted its holdings in shares of Summit Therapeutics by 244.8% during the third quarter. CX Institutional now owns 2,038 shares of the company’s stock valued at $34,000 after purchasing an additional 1,447 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Summit Therapeutics by 4,178.0% during the first quarter. Parallel Advisors LLC now owns 2,139 shares of the company’s stock valued at $41,000 after purchasing an additional 2,089 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Summit Therapeutics by 61.7% during the third quarter. GAMMA Investing LLC now owns 2,697 shares of the company’s stock valued at $46,000 after purchasing an additional 1,029 shares during the last quarter. Institutional investors own 4.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Summit Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Stifel Nicolaus cut their target price on Summit Therapeutics from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Leerink Partners raised Summit Therapeutics from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $12.00 to $13.00 in a research note on Wednesday, August 12th. Jefferies Financial Group restated a “buy” rating on shares of Summit Therapeutics in a report on Monday, October 26th. Finally, The Goldman Sachs Group set a $41.00 price target on Summit Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.61.

Key Stories Impacting Summit Therapeutics

Here are the key news stories impacting Summit Therapeutics this week:

• Positive Sentiment: HC Wainwright maintained its Buy rating and raised its earnings estimates across several periods, forecasting narrower losses for FY2026 (a loss of $1.04 per share versus $1.06 previously) and FY2027 (a loss of $0.98 versus $1.05). Its quarterly estimates were also generally revised toward smaller losses. These are forecasts, not reported results. Summit Therapeutics analyst estimate report
• Positive Sentiment: A separate report grouped Summit among healthcare stocks analysts are bullish on, reinforcing the favorable analyst tone. Analysts Are Bullish on These Healthcare Stocks
• Neutral Sentiment: Another article notes SMMT moved above its 200-day moving average, a potentially constructive technical signal, but its headline raises the question of selling and provides no clear investment recommendation. Summit Therapeutics stock breaks above 200-day moving average

Summit Therapeutics Price Performance

NASDAQ SMMT opened at $16.33 on Monday. The stock has a market capitalization of $13.06 billion, a price-to-earnings ratio of -15.26 and a beta of -1.49. Summit Therapeutics PLC has a 1-year low of $12.07 and a 1-year high of $29.23. The business’s fifty day moving average price is $16.25 and its 200-day moving average price is $16.15.

About Summit Therapeutics

Summit Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. Its lead candidate is ivonescimab, a bispecific antibody designed to target both PD-1 and VEGF, two pathways involved in tumor growth and the immune response. The company is evaluating the treatment in clinical trials for multiple types of cancer.

Summit licensed rights to develop and commercialize ivonescimab from China-based Akeso in 2022. Summit’s licensed territory covers markets outside China, including the United States, Canada, Europe and Japan.