Summit Therapeutics Inc (NASDAQ: SMMT)’s Stock Market Position Could Improve In The Coming Months

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In the last trading session, 1.57 million shares of the Summit Therapeutics Inc (NASDAQ:SMMT) were traded, and its beta was -1.19. Most recently the company’s share price was $3.85, and it changed around -$0.13 or -3.27% from the last close, which brings the market valuation of the company to $2.70B. SMMT currently trades at a discount to its 52-week high of $5.22, offering almost -35.58% off that amount. The share price’s 52-week low was $1.30, which indicates that the current value has risen by an impressive 66.23% since then. We note from Summit Therapeutics Inc’s average daily trading volume that its 10-day average is 2.6 million shares, with the 3-month average coming to 2.34 million.

Summit Therapeutics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 0 recommended SMMT as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Summit Therapeutics Inc is expected to report earnings per share of $0 for the current quarter.

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Summit Therapeutics Inc (NASDAQ:SMMT) trade information

Instantly SMMT has showed a red trend with a performance of -3.27% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 47.51% year-to-date, but still up 17.38% over the last five days. On the other hand, Summit Therapeutics Inc (NASDAQ:SMMT) is -17.20% down in the 30-day period. We can see from the shorts that 16.96 million shares have been sold at a short interest cover period of 6.85 day(s).

The consensus price target as assigned by Wall Street analysts is $8, which translates to bulls needing to increase their stock price by 51.88% from its current value. Analyst projections state that SMMT is forecast to be at a low of $8 and a high of $8.

Summit Therapeutics Inc (SMMT) estimates and forecasts

Summit Therapeutics Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 105.88 percent over the past six months and at a -84.62% annual growth rate that is well below the industry average of 8.70%.

SMMT Dividends

Summit Therapeutics Inc’s next quarterly earnings report is expected to be released around May 09 and May 13.

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

Upon looking at major shareholders, it appears that insiders hold 88.13% of Summit Therapeutics Inc shares, and 4.80% of them are in the hands of institutional investors. The stock currently has a share float of 40.47%. Summit Therapeutics Inc stock is held by 142 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 1.26% of the shares, which is about 8.76 million shares worth $21.99 million.

Baker Brothers Advisors, LLC, with 0.90% or 6.3 million shares worth $15.82 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 3.66 million shares worth $9.19 million, making up 0.52% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 2.66 million shares worth around $4.31 million, which represents about 0.38% of the total shares outstanding.