Summit Therapeutics Inc (NASDAQ:SMMT) traded at $3.88 at close of the session on Friday, April 05, made an upward move of 9.60% on its previous day’s price.
Looking at the stock we see that its previous close was $3.54 and the beta (5Y monthly) reads -1.21 . In terms of its 52-week price range, SMMT has a high of $5.22 and a low of $1.30. The company’s stock has lost about -19.83% over that past 30 days.
Summit Therapeutics Inc has a market cap of $2.72 billion and is expected to release its quarterly earnings report on May 09, 2024 – May 13, 2024. Estimates by analysts give the company expected earnings per share (EPS) of $0, with the EPS growth for the year raised at -$0.24 for 2024 and -$0.29 for next year.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SMMT stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Looking further, we note the current price level is -3.40% off its SMA20 and -7.84% from its 50-day simple moving average. The RSI (14) is pointing at 48.17 while the volatility over the past week is 9.36% and jumps to 10.00% over the past one month. The beta value is -1.15, while the average true range (ATR) is currently pointing at 0.42.
Coming back to Summit Therapeutics Inc (NASDAQ:SMMT), we note that the average 3-month trading volume was 2.36 million, while that of the preceding 10-day period stands at 2.48 million. Current shares outstanding are 701.66 million.
The insiders hold 88.14% of the company’s shares while institutions hold 4.65%. The data shows that short shares as of Mar 15, 2024, stood at 16.96 million at a short ratio of 6.85. This represents a 2.42% short interest in shares outstanding on Mar 15, 2024. Shares short rose in March from the previous month at 12.75 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 48.66% up in year-to-date price movement.
