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Summit Therapeutics Inc. (SMMT) Has Strong Growth Prospects Through 2023

Summit Therapeutics Inc. (NASDAQ:SMMT) has a beta value of -1.00 and has seen 1.87 million shares traded in the last trading session. The company, currently valued at $865.20M, closed the last trade at $4.46 per share which meant it gained $0.07 on the day or 1.59% during that session. The SMMT stock price is -29.6% off its 52-week high price of $5.78 and 85.2% above the 52-week low of $0.66. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.4 million shares traded. The 3-month trading volume is 9.41 million shares.

Summit Therapeutics Inc. (NASDAQ:SMMT) trade information

Sporting 1.59% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the SMMT stock price touched $4.46 or saw a rise of 12.2%. Year-to-date, Summit Therapeutics Inc. shares have moved 4.94%, while the 5-day performance has seen it change -7.08%. Over the past 30 days, the shares of Summit Therapeutics Inc. (NASDAQ:SMMT) have changed 20.54%. Short interest in the company has seen 0.37 million shares shorted with days to cover at 0.73.

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Summit Therapeutics Inc. (SMMT) estimates and forecasts

The company’s shares have gained 316.82% over the past 6 months. Revenue growth from the last financial year stood is estimated to be -92.30%.

SMMT Dividends

Summit Therapeutics Inc. is expected to release its next earnings report between March 15 and March 20 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Summit Therapeutics Inc. (NASDAQ:SMMT)’s Major holders

Insiders own 83.16% of the company shares, while shares held by institutions stand at 4.18% with a share float percentage of 24.79%. Investors are also buoyed by the number of investors in a company, with Summit Therapeutics Inc. having a total of 68 institutions that hold shares in the company. The top two institutional holders are Polar Capital Holdings Plc with over 5.6 million shares worth more than $5.6 million. As of Jun 29, 2022, Polar Capital Holdings Plc held 5.71% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 0.78 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $0.78 million and represent 0.79% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares NASDAQ Biotechnology ETF. As of Jun 29, 2022, the former fund manager holds about 0.75% shares in the company for having 0.73 million shares of worth $0.73 million while later fund manager owns 0.21 million shares of worth $0.25 million as of Sep 29, 2022, which makes it owner of about 0.22% of company’s outstanding stock.

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