Summit Therapeutics Inc. (NASDAQ: SMMT)’s stock price has increased by 11.59 compared to its previous closing price of 1.64. Despite this, the company has seen a gain of 28.87% in its stock price over the last five trading days.
Is It Worth Investing in Summit Therapeutics Inc. (NASDAQ: SMMT) Right Now?
Moreover, the 36-month beta value for SMMT is -0.97.
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The public float for SMMT is 34.00M and currently, short sellers hold a 17.71% of that float. On March 17, 2023, SMMT’s average trading volume was 4.13M shares.
SMMT’s Market Performance
The stock of Summit Therapeutics Inc. (SMMT) has seen a 28.87% increase in the past week, with a -12.02% drop in the past month, and a -53.20% fall in the past quarter. The volatility ratio for the week is 11.17%, and the volatility levels for the past 30 days are at 13.90% for SMMT. The simple moving average for the last 20 days is -0.33% for SMMT stock, with a simple moving average of 1.70% for the last 200 days.
Analysts’ Opinion of SMMT
Needham gave a rating of “Buy” to SMMT, setting the target price at $27 in the report published on April 12th of the previous year.
SMMT Trading at -38.41% from the 50-Day Moving Average
After a stumble in the market that brought SMMT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -68.34% of loss for the given period.
Volatility was left at 13.90%, however, over the last 30 days, the volatility rate increased by 11.17%, as shares sank -20.78% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -63.40% lower at present.
During the last 5 trading sessions, SMMT rose by +28.87%, which changed the moving average for the period of 200-days by +64.86% in comparison to the 20-day moving average, which settled at $1.8120. In addition, Summit Therapeutics Inc. saw -56.94% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SMMT starting from Zanganeh Mahkam, who purchase 15,973,743 shares at the price of $1.05 back on Mar 08. After this action, Zanganeh Mahkam now owns 23,395,269 shares of Summit Therapeutics Inc., valued at $16,772,430 using the latest closing price.
Zanganeh Mahkam, the Co-Chief Executive Officer of Summit Therapeutics Inc., purchase 7,553,301 shares at $1.05 during a trade that took place back on Mar 08, which means that Zanganeh Mahkam is holding 9,884,095 shares at $7,930,966 based on the most recent closing price.
Stock Fundamentals for SMMT
Equity return is now at value -102.20, with -70.60 for asset returns.
Conclusion
To wrap up, the performance of Summit Therapeutics Inc. (SMMT) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
