In the last trading session, 1,277,885 Summit Therapeutics Inc. (NASDAQ:SMMT) shares changed hands as the company’s beta touched 0.64. With the company’s per share price at $6.61 changed hands at -$0.06 or -0.01% during last session, the market valuation stood at $642.79 Million. SMMT’s last price was a discount, traded about -86.08% off its 52-week high of $12.3. The share price had its 52-week low at $2.91, which suggests the last value was 55.98% up since then. When we look at Summit Therapeutics Inc.’s average trading volume, we note the 10-day average is 381.55 Million shares, with the 3-month average coming to 234.08 Million.
Analysts gave the Summit Therapeutics Inc. (SMMT) stock a consensus recommendation rating of Hold, calculated at a mean rating of 2. If we narrow down to specifics, the data shows that none out of 1 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 1 recommended SMMT as a Hold, none felt it is a Buy and none rated the stock as Underweight. Summit Therapeutics Inc.’s EPS for the current quarter is expected to be $0.
Summit Therapeutics Inc. (NASDAQ:SMMT) trade information
Although SMMT has turned red as seen at the end of in last trading. With action -0.9%, the performance over the past five days has been red. The jump to weekly highs of $6.96- on Monday, Jun 14 added 5.03% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.41%, with the 5-day performance at -0.03% in the red. However, in the 30-day time frame, Summit Therapeutics Inc. (NASDAQ:SMMT) is -0.18% down. Looking at the short shares, we see there were 496.85 Million shares sold at short interest cover period of 2.12 days.
The consensus price target for the stock as assigned by Wall Street analysts is $4, meaning bulls need a downside of -39.49% from its current market value. According to analyst projections, SMMT’s forecast low is $4 with $4 as the target high. To hit the forecast high, the stock’s price needs a -39.49% upsurge from its current level, while the stock would need to tank -39.49% for it to hit the projected low.
Summit Therapeutics Inc. (SMMT) estimates and forecasts
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $4.45 Million. 1 analysts are of the opinion that Summit Therapeutics Inc.’s revenue for the quarter ending September 01, 2021 will be $4.49 Million. The company’s revenue for the corresponding quarters a year ago was $4.5 Million and $3.96 Million respectively. According to analysts, the company will likely register a drop in its current quarter sales, forecast at -1.1%. The estimates for the next quarter sales put growth at 13.4%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 0%. The 2021 estimates are for Summit Therapeutics Inc. earnings to decrease by -80.9%, but the outlook for the next 5-year period is at 0% per year.
Summit Therapeutics Inc. (NASDAQ:SMMT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 74.08% of Summit Therapeutics Inc. shares while 9.65% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 37.21%. There are 49 institutions holding the Summit Therapeutics Inc. stock share, with Polar Capital Holdings Plc the top institutional holder. As of Mar 30, 2021, the company held 6.33% of the shares, roughly 6.16 Million SMMT shares worth $36.15 Million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 0.77% or 747.1 Thousand shares worth $4.39 Million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were iShares NASDAQ Biotechnology ETF and Vanguard Total Stock Market Index Fund. With 700335 shares estimated at $4.11 Million under it, the former controlled 0.72% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 0.55% of the shares, roughly 533.36 Thousand shares worth around $3.13 Million.