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Summit Therapeutics Inc. (NASDAQ: SMMT): Is It Possible To Be Down -59.53% YTD And Still Lose Money

During the last session, Summit Therapeutics Inc. (NASDAQ:SMMT)’s traded shares were 1.36 million, with the beta value of the company hitting -1.05. At the end of the trading day, the stock’s price was $1.72, reflecting an intraday gain of 1.18% or $0.02. The 52-week high for the SMMT share is $5.78, that puts it down -236.05 from that peak though still a striking 61.63% gain since the share price plummeted to a 52-week low of $0.66. The company’s market capitalization is $1.16B, and the average intraday trading volume over the past 10 days was 1.61 million shares, and the average trade volume was 2.18 million shares over the past three months.

Summit Therapeutics Inc. (SMMT) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 1.00. SMMT has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.

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Summit Therapeutics Inc. (NASDAQ:SMMT) trade information

Summit Therapeutics Inc. (SMMT) registered a 1.18% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.18% in intraday trading to $1.72 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 1.78%, and it has moved by 26.47% in 30 days. Based on these gigs, the overall price performance for the year is 78.15%. The short interest in Summit Therapeutics Inc. (NASDAQ:SMMT) is 5.07 million shares and it means that shorts have 3.66 day(s) to cover.

The consensus price target of analysts on Wall Street is $4.00, which implies an increase of 57.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $4.00 and $4.00 respectively. As a result, SMMT is trading at a discount of -132.56% off the target high and -132.56% off the low.

Summit Therapeutics Inc. (SMMT) estimates and forecasts

In the rating firms’ projections, revenue will decrease -92.30% compared to the previous financial year.

As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $4.55 million and $192k respectively.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 27.40%. While earnings are projected to return 57.60% in 2023.

SMMT Dividends

Summit Therapeutics Inc. is due to release its next quarterly earnings on May 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Summit Therapeutics Inc. insiders own 29.61% of total outstanding shares while institutional holders control 1.27%, with the float percentage being 1.80%. Baker Brothers Advisors, LLC is the largest shareholder of the company, while 85 institutions own stock in it. As of Mar 30, 2023, the company held over 6.3 million shares (or 0.90% of all shares), a total value of $11.03 million in shares.

The next largest institutional holding, with 1.85 million shares, is of Blackrock Inc.’s that is approximately 0.26% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $3.23 million.

Also, the Mutual Funds coming in first place with the largest holdings of Summit Therapeutics Inc. (SMMT) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 0.93 million shares. This amounts to just over 0.13 percent of the company’s overall shares, with a $3.95 million market value. The same data shows that the other fund manager holds slightly less at 0.45 million, or about 0.06% of the stock, which is worth about $1.91 million.

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