Mirae Asset Global Investments Co. Ltd. Acquires 42,076 Shares of Summit Therapeutics PLC $SMMT

Mirae Asset Global Investments Co. Ltd. bought a new stake in Summit Therapeutics PLC (NASDAQ:SMMT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 42,076 shares of the company’s stock, valued at approximately $712,000.

A number of other hedge funds have also made changes to their positions in SMMT. IFP Advisors Inc boosted 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 worth $26,000 after purchasing an additional 1,339 shares during the period. Toth Financial Advisory Corp acquired a new stake in Summit Therapeutics in the 3rd quarter valued at $30,000. CX Institutional increased its holdings in Summit Therapeutics by 244.8% in the 3rd quarter. CX Institutional now owns 2,038 shares of the company’s stock valued at $34,000 after purchasing an additional 1,447 shares in the last quarter. Parallel Advisors LLC raised its position in Summit Therapeutics by 4,178.0% in 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 period. Finally, GAMMA Investing LLC raised its position in Summit Therapeutics by 61.7% in 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 period. Hedge funds and other institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Stock Performance

Shares of SMMT stock opened at $16.33 on Monday. The firm has a fifty day simple moving average of $16.25 and a 200-day simple moving average of $16.15. The company has a market capitalization of $13.06 billion, a PE ratio of -15.26 and a beta of -1.49. Summit Therapeutics PLC has a twelve month low of $12.07 and a twelve month high of $29.23.

More Summit Therapeutics News

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

Analyst Ratings Changes

SMMT has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Summit Therapeutics in a research note on Thursday, October 15th. The Goldman Sachs Group set a $41.00 target price on Summit Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, September 29th. Leerink Partners upgraded Summit Therapeutics from an “underperform” rating to a “market perform” rating and increased their target price for the company from $12.00 to $13.00 in a research note on Wednesday, August 12th. Guggenheim reiterated a “buy” rating on shares of Summit Therapeutics in a report on Wednesday, August 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Summit Therapeutics in a research report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.61.

Summit Therapeutics Profile

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.