Summit Therapeutics Inc (NASDAQ: SMMT) is 615.33% higher on its value in year-to-date trading and has touched a low of $2.10 and a high of $33.89 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 $17.87 in the last trading session, with the day’s gains setting it 0.8%.
Currently trading at $18.67, the stock is 2.03% and -4.25% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.27 million and changing 4.48% at the moment leaves the stock 53.06% off its SMA200. SMMT registered 684.45% gain for a year compared to 6-month gain of 133.08%. The firm has a 50-day simple moving average (SMA 50) of $19.5252 and a 200-day simple moving average (SMA200) of $12.126325.
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The stock witnessed a 1.36% loss in the last 1 month and extending the period to 3 months gives it a -22.21%, and is -0.05% down 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 7.37% over the week and 6.04% over the month.
Summit Therapeutics Inc (SMMT) has around 105 employees, a market worth around $13.76B and $0.00M in sales. Distance from 52-week low is 789.05% and -44.91% from its 52-week high. The company has generated returns on investments over the last 12 months (-44.49%).
The EPS is expected to grow by 70.62% this year.
Summit Therapeutics Inc (SMMT) Top Institutional Holders
230.0 institutions hold shares in Summit Therapeutics Inc (SMMT), with institutional investors hold 75.16% of the company’s shares. The shares outstanding are 737.09M, and float is at 114.59M with Short Float at 14.70%. Institutions hold 11.75% of the Float.
The top institutional shareholder in the company is BAKER BROS. ADVISORS LP with over 23.22 million shares valued at $181.13 million. The investor’s holdings represent 3.309% of the SMMT Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 8.82 million shares valued at $68.78 million to account for 1.2566 of the shares outstanding. The other top investors are BLACKROCK INC. which holds 7.9 million shares representing 1.1255% and valued at over $61.61 million, while FMR LLC holds 1.078 of the shares totaling 7.57 million with a market value of $59.01 million.
Summit Therapeutics Inc (SMMT) Insider Activity
The most recent transaction is an insider purchase by Zanganeh Mahkam, the company’s Chief Executive Officer. SEC filings show that Zanganeh Mahkam bought 54,321 shares of the company’s common stock on Mar 27 ’24 at a price of $3.72 per share for a total of $0.2 million. Following the purchase, the insider now owns 24.92 million shares.
Summit Therapeutics Inc disclosed in a document filed with the SEC on Mar 26 ’24 that Zanganeh Mahkam (Chief Executive Officer) bought a total of 30,000 shares of the company’s common stock. The trade occurred on Mar 26 ’24 and was made at $3.75 per share for $0.11 million. Following the transaction, the insider now directly holds 30000.0 shares of the SMMT stock.
Still, SEC filings show that on Mar 27 ’24, Zanganeh Mahkam (Chief Executive Officer) acquired 26,000 shares at an average price of $3.72 for $96720.0. The insider now directly holds 520,814 shares of Summit Therapeutics Inc (SMMT).
