The stock has a 36-month beta value of -1.28. Opinions on the stock are mixed, with 3 analysts rating it as a “buy,” 3 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for SMMT is 83.02M, and at present, short sellers hold a 27.58% of that float. On May 08, 2024, the average trading volume of SMMT was 2.23M shares.
SMMT) stock’s latest price update
Summit Therapeutics Inc (NASDAQ: SMMT)’s stock price has surge by 18.79relation to previous closing price of 4.47. Nevertheless, the company has seen a 35.11% surge in its stock price over the last five trading sessions. Seeking Alpha reported 2024-05-01 that Summit Therapeutics Inc. (NASDAQ:SMMT ) Q1 2024 Earnings Conference Call May 1, 2024 9:00 AM ET Company Participants Dave Gancarz – Chief Business and Strategy Officer Bob Duggan – Chairman of the Board and Chief Executive Officer Maky Zanganeh – Chief Executive Officer and President Manmeet Soni – Chief Operating Officer and Chief Financial Officer Allen Yang – Chief Medical Officer Conference Call Participants Bradley Canino – Stifel Carter Gould – Barclays Operator Good morning, ladies and gentlemen, and thank you for standing by. My name is Abby, and I will be your conference operator today.
SMMT’s Market Performance
Summit Therapeutics Inc (SMMT) has seen a 35.11% rise in stock performance for the week, with a 34.43% gain in the past month and a 29.51% surge in the past quarter. The volatility ratio for the week is 16.39%, and the volatility levels for the past 30 days are at 8.93% for SMMT. The simple moving average for the past 20 days is 37.56% for SMMT’s stock, with a 88.25% simple moving average for the past 200 days.
Analysts’ Opinion of SMMT
Stifel, on the other hand, stated in their research note that they expect to see SMMT reach a price target of $8. The rating they have provided for SMMT stocks is “Buy” according to the report published on March 26th, 2024.
SMMT Trading at 31.22% 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 able to rebound, for now settling with 1.72% of gains for the given period.
Volatility was left at 8.93%, however, over the last 30 days, the volatility rate increased by 16.39%, as shares surge +30.15% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +19.06% upper at present.
During the last 5 trading sessions, SMMT rose by +35.11%, which changed the moving average for the period of 200-days by +165.50% in comparison to the 20-day moving average, which settled at $3.92. In addition, Summit Therapeutics Inc saw 103.45% 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
The total capital return value is set at -0.61. Equity return is now at value -130.63, with -53.77 for asset returns.
Based on Summit Therapeutics Inc (SMMT), the company’s capital structure generated 0.71 points at debt to capital in total, while cash flow to debt ratio is standing at -0.86. The debt to equity ratio resting at 2.48. The interest coverage ratio of the stock is -8.36.
Currently, EBITDA for the company is -87.69 million with net debt to EBITDA at -0.55. The liquidity ratio also appears to be rather interesting for investors as it stands at 6.97.
Conclusion
To sum up, Summit Therapeutics Inc (SMMT) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
