Summit Therapeutics Inc (NASDAQ: SMMT) is 85.44% higher on its value in year-to-date trading and has touched a low of $1.25 and a high of $5.22 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SMMT stock was last observed hovering at around $5.07 in the last trading session, with the day’s loss setting it -0.23%.
Currently trading at $4.84, the stock is 8.40% and 28.61% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.14 million and changing -4.54% at the moment leaves the stock 100.45% off its SMA200. SMMT registered 248.20% gain for a year compared to 6-month gain of 208.28%. The firm has a 50-day simple moving average (SMA 50) of $6.43k and a 200-day simple moving average (SMA200) of -$5.84.
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The stock witnessed a 26.04% loss in the last 1 month and extending the period to 3 months gives it a 115.11%, and is 6.84% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 9.95% over the week and 10.93% over the month.
Summit Therapeutics Inc (SMMT) has around 105 employees, a market worth around $3.40B and $0.00M in sales. Distance from 52-week low is 287.20% and -7.28% from its 52-week high. The company has generated returns on investments over the last 12 months (-339.79%).
Summit Therapeutics Inc quarterly earnings per share for the current quarter are estimated at $0., but quarterly earnings will post -92.30% year-over-year.
142 institutions hold shares in Summit Therapeutics Inc (SMMT), with institutional investors hold 28.49% of the company’s shares. The shares outstanding are 701.66M, and float is at 82.51M with Short Float at 15.45%. Institutions hold 4.79% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 8.76 million shares valued at $21.99 million. The investor’s holdings represent 1.26% of the SMMT Shares outstanding. As of Jun 29, 2023, the second largest holder is Baker Brothers Advisors, LLC with 6.3 million shares valued at $15.82 million to account for 0.90% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 6.1 million shares representing 0.87% and valued at over $15.31 million, while Geode Capital Management, LLC holds 0.38% of the shares totaling 2.68 million with a market value of $6.73 million.
Summit Therapeutics Inc (SMMT) Insider Activity
The most recent transaction is an insider purchase by Dhingra Ankur, the company’s Chief Financial Officer. SEC filings show that Dhingra Ankur bought 20,400 shares of the company’s common stock on Dec 13 ’23 at a price of $2.17 per share for a total of $44254.0. Following the purchase, the insider now owns 0.25 million shares.
Summit Therapeutics Inc disclosed in a document filed with the SEC on Dec 12 ’23 that Zanganeh Mahkam (Chief Executive Officer) bought a total of 5,000 shares of the company’s common stock. The trade occurred on Dec 12 ’23 and was made at $2.07 per share for $10350.0. Following the transaction, the insider now directly holds 0.49 million shares of the SMMT stock.
Still, SEC filings show that on Oct 13 ’23, Soni Manmeet Singh (Chief Operating Officer) acquired 2,976,190 shares at an average price of $1.68 for $5.0 million. The insider now directly holds 2,976,190 shares of Summit Therapeutics Inc (SMMT).
