In the latest trading session, 0.43 million Summit Therapeutics Inc (NASDAQ:SMMT) shares changed hands as the company’s beta touched -0.69. With the company’s most recent per share price at $17.78 changing hands around $0.46 or 2.68% at last look, the market valuation stands at $13.12B. SMMT’s current price is a discount, trading about -90.61% off its 52-week high of $33.89. The share price had its 52-week low at $2.10, which suggests the last value was 88.19% up since then. When we look at Summit Therapeutics Inc’s average trading volume, we note the 10-day average is 2.85 million shares, with the 3-month average coming to 2.58 million.
Analysts gave the Summit Therapeutics Inc (SMMT) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended SMMT as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight.
Summit Therapeutics Inc (NASDAQ:SMMT) trade information
Instantly SMMT is in green as seen in intraday trades today. With action -5.40%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -0.34%, with the 5-day performance at -5.40% in the red. However, in the 30-day time frame, Summit Therapeutics Inc (NASDAQ:SMMT) is -1.14% down. Looking at the short shares, we see there were 21.22 million shares sold at short interest cover period of 7.34 days.
The consensus price target for the stock as assigned by Wall Street analysts is 33.5, meaning bulls need an upside of 46.93% from its recent market value. According to analyst projections, SMMT’s forecast low is 32 with 35 as the target high. To hit the forecast high, the stock’s price needs a -96.85% plunge from its current level, while the stock would need to soar -79.98% for it to hit the projected low.
Summit Therapeutics Inc (SMMT) estimates and forecasts
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -10.52%. The 2025 estimates are for Summit Therapeutics Inc earnings to decrease by -38.33%, but the outlook for the next 5-year period is at -27.50% per year.
Summit Therapeutics Inc (NASDAQ:SMMT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 84.36% of Summit Therapeutics Inc shares while 12.91% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 82.56%. There are 12.91% institutions holding the Summit Therapeutics Inc stock share, with BAKER BROS. ADVISORS LP the top institutional holder. As of 2024-06-30, the company held 3.2804% of the shares, roughly 23.22 million SMMT shares worth $181.13 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 1.2566% or 8.82 million shares worth $68.78 million as of 2024-06-30.
Among Mutual Funds, the top two as of Dec 31, 2024 were VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund and SPDR SERIES TRUST-SPDR(R) S&P(R) Biotech ETF. With 3.4 shares estimated at $60.26 million under it, the former controlled 0.46% of total outstanding shares. On the other hand, SPDR SERIES TRUST-SPDR(R) S&P(R) Biotech ETF held about 0.45% of the shares, roughly 3.32 shares worth around $58.77 million.
