Summit Therapeutics Inc (SMMT) Shares Down Despite Recent Market Volatility

The stock of Summit Therapeutics Inc (NASDAQ: SMMT) has decreased by -3.27 when compared to last closing price of 3.98. Despite this, the company has experienced a 17.38% gain in its stock price over the last five trading sessions. The Motley Fool reported 2024-03-29 that An analyst initiated coverage of Summit Therapeutics with an enthusiastic buy recommendation. He feels its investigational cancer drug has vast potential.

Is It Worth Investing in Summit Therapeutics Inc (NASDAQ: SMMT) Right Now?

Company’s 36-month beta value is -1.19.Analysts have differing opinions on the stock, with 3 analysts rating it as a “buy,” 3 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for SMMT is 83.20M, and currently, short sellers hold a 20.39% ratio of that floaft. The average trading volume of SMMT on April 03, 2024 was 2.34M shares.

SMMT’s Market Performance

SMMT stock saw a decrease of 17.38% in the past week, with a monthly decline of -17.20% and a quarterly a decrease of 47.51%. The volatility ratio for the week is 9.61%, and the volatility levels for the last 30 days are 10.29% for Summit Therapeutics Inc (SMMT). The simple moving average for the last 20 days is -7.66% for SMMT stock, with a simple moving average of 46.52% for the last 200 days.

Analysts’ Opinion of SMMT

Many brokerage firms have already submitted their reports for SMMT stocks, with Stifel repeating the rating for SMMT by listing it as a “Buy.” The predicted price for SMMT in the upcoming period, according to Stifel is $8 based on the research report published on March 26, 2024 of the current year 2024.

SMMT Trading at -8.61% 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 -26.25% of loss for the given period.

Volatility was left at 10.29%, however, over the last 30 days, the volatility rate increased by 9.61%, as shares sank -14.06% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.65% upper at present.

During the last 5 trading sessions, SMMT rose by +17.38%, which changed the moving average for the period of 200-days by +97.44% in comparison to the 20-day moving average, which settled at $4.14. In addition, Summit Therapeutics Inc saw 47.51% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at SMMT starting from Zanganeh Mahkam, who purchase 54,321 shares at the price of $3.72 back on Mar 27 ’24. After this action, Zanganeh Mahkam now owns 24,923,800 shares of Summit Therapeutics Inc, valued at $201,874 using the latest closing price.

Zanganeh Mahkam, the Chief Executive Officer of Summit Therapeutics Inc, purchase 26,000 shares at $3.72 during a trade that took place back on Mar 27 ’24, which means that Zanganeh Mahkam is holding 520,814 shares at $96,720 based on the most recent closing price.

Stock Fundamentals for SMMT

Current profitability levels for the company are sitting at:

  • 1925.8 for the present operating margin
  • -7.72 for the gross margin

The net margin for Summit Therapeutics Inc stands at -7035.23. The total capital return value is set at 2.48. Equity return is now at value -601.88, with -141.84 for asset returns.

Based on Summit Therapeutics Inc (SMMT), the company’s capital structure generated 0.58 points at debt to capital in total, while cash flow to debt ratio is standing at -0.72. The debt to equity ratio resting at 1.37. The interest coverage ratio of the stock is 27.49.

Currently, EBITDA for the company is -87.69 million with net debt to EBITDA at 0.08. When we switch over and look at the enterprise to sales, we see a ratio of 11642.83. The receivables turnover for the company is 0.28for trailing twelve months and the total asset turnover is 0.0. The liquidity ratio also appears to be rather interesting for investors as it stands at 9.30.

Conclusion

In a nutshell, Summit Therapeutics Inc (SMMT) has experienced a better performance in recent times. The stock has received mixed “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.

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