Trading Day Review: Summit Therapeutics Inc (SMMT) Gains Momentum, Closing at 7.93

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The price of Summit Therapeutics Inc (NASDAQ: SMMT) closed at $7.93 in the last session, up 1.67% from day before closing price of $7.80. In other words, the price has increased by $1.67 from its previous closing price. On the day, 8.17 million shares were traded. SMMT stock price reached its highest trading level at $8.15 during the session, while it also had its lowest trading level at $7.71.

Ratios:

We take a closer look at SMMT’s different ratios to gain a better understanding of the stock. For the most recent quarter (mrq), Quick Ratio is recorded 6.97 and its Current Ratio is at 6.97. In the meantime, Its Debt-to-Equity ratio is 2.48 whereas as Long-Term Debt/Eq ratio is at 2.39.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Citigroup on May 07, 2024, initiated with a Buy rating and assigned the stock a target price of $7.

On March 26, 2024, Stifel started tracking the stock assigning a Buy rating and target price of $8.

Insider Transactions:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Mar 27 ’24 when Zanganeh Mahkam bought 54,321 shares for $3.72 per share. The transaction valued at 201,874 led to the insider holds 24,923,800 shares of the business.

Zanganeh Mahkam bought 26,000 shares of SMMT for $96,720 on Mar 27 ’24. The Chief Executive Officer now owns 520,814 shares after completing the transaction at $3.72 per share. On Mar 26 ’24, another insider, Dhingra Ankur, who serves as the Chief Financial Officer of the company, bought 100,000 shares for $3.75 each. As a result, the insider paid 375,000 and bolstered with 354,958 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, SMMT now has a Market Capitalization of 5566701568 and an Enterprise Value of 5519540224.

Stock Price History:

The Beta on a monthly basis for SMMT is -0.98, which has changed by 2.2105262 over the last 52 weeks, in comparison to a change of 0.26238096 over the same period for the S&P500. Over the past 52 weeks, SMMT has reached a high of $11.25, while it has fallen to a 52-week low of $1.52. The 50-Day Moving Average of the stock is 49.27%, while the 200-Day Moving Average is calculated to be 126.95%.

Shares Statistics:

According to the various share statistics, SMMT traded on average about 3.99M shares per day over the past 3-months and 3324610 shares per day over the past 10 days. A total of 701.66M shares are outstanding, with a floating share count of 83.23M. Insiders hold about 88.14% of the company’s shares, while institutions hold 7.11% stake in the company. Shares short for SMMT as of 1715731200 were 22565474 with a Short Ratio of 5.32, compared to 1713139200 on 22896771. Therefore, it implies a Short% of Shares Outstanding of 22565474 and a Short% of Float of 27.08.

Earnings Estimates

The market rating for Summit Therapeutics Inc (SMMT) is a result of the insights provided by 2 analysts actively involved in the assessment.On average, analysts expect EPS of -$0.06 for the current quarter, with a high estimate of -$0.06 and a low estimate of -$0.06, while EPS last year was -$0.06. The consensus estimate for the next quarter is -$0.07, with high estimates of -$0.06 and low estimates of -$0.07.

Analysts are recommending an EPS of between -$0.24 and -$0.26 for the fiscal current year, implying an average EPS of -$0.25. EPS for the following year is -$0.29, with 2.0 analysts recommending between -$0.26 and -$0.32.

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