Summit Therapeutics Inc. (NASDAQ:SMMT) currently has a daily average trading volume of 4.13M but it saw 3612263 shares traded on Thursday. With a market cap of 385.89M USD, stock’s current market price of $1.83 came rising about 11.59 while comparing to the previous closing price of $1.64. In past 52 weeks, the stock remained buoying in the range of price level as high as $5.78 and as low as $0.66. In the recent trading on the day, stock has struck highest price mark of $1.87 while lowest mark touched by it was $1.65.
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Taking a look at 20-day trading activity of Summit Therapeutics Inc. (SMMT) gives us an average price of $1.8120, while its current price level is -68.34% below from 52-week high level whereas it is 177.27% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $2.9077 while that of 200 days or SMA-200 reads an average of $1.8031. A closer look into the stock’s movement over the week reveals that its volatility is standing at 11.17% during that period while stretching the period over a month that increases to 13.90%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 44.74 which implies that the stock is in neutral territory.
Summit Therapeutics Inc. (SMMT)’s stock is currently under the radar of 1 analysts who are in consensus at a 12-month price target range of between $4.00 and $4.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $4.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $4.00. Average price target assigned by them is $4.00 which highlights an upside potential of 54.25% for the stock over that period. And to attain the median price target of $4.00 assigned by those analysts, stock has to add about 54.25% of value to its current levels.
Data by FactSet Research shows that 1 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 0 analysts suggested the investors to Buy the stock while 1 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Hold for the stock and that issued by Wall Street to investors is Strong Buy.
Needham issued its recommendations for the stock as it reiterated the price target for the stock in the range of between $30 and $27.
Over the week, SMMT’s stock price is moving 28.87% up while it is -12.02% when we observe its performance for the past one month. Year-to-date it is -56.94% down and over the past year, the stock is showing a downside performance of -33.94%.
The latest quarterly earnings report issued by the company was for quarter ended 9/29/2021, when its quarterly earnings per share (EPS) of -$1 beaten by the consensus estimate of -$0.29 for the same. The company is expected to be releasing its next quarterly report in 05/15/2023, for which analysts forecasted an EPS of $0 while estimate for next year EPS is $0.
Currently, Summit Therapeutics Inc.’s total number of outstanding shares is 148.58M with 29.58% of that held by the insiders while 1.19% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at -103.50% and return on equity (ROE) at -102.20%. Stock’s beta reads -0.97. Stock has a price to book (P/B) ratio of 2.03 while price to sale or P/S ratio amounts to 385.89. Its return on asset (ROA) is -70.60% on average.
As per SEC documents, Vanguard Total Stock Market Index shunned 929,216 of company’s common stock of worth $1.67 million as per recent closing price of the stock. Vanguard Total Stock Market Index is not the only institutional holder which restructured its stake in Summit Therapeutics Inc., as Vanguard Extended Market Index Fu dumped 434,294 shares of worth $0.78 million to bring its holdings to a total of 10497.0 shares. In the most recent quarter, iShares Biotechnology ETF came cutting its stake by -0.86% in the company and now holds 0.21 million or 0.11% of the company’s stake having worth of about 0.39 million.
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