Summit Therapeutics Inc (NASDAQ:SMMT) shares, rose in value on Wednesday, April 16, with the stock price down by -6.38% to the previous day’s close as strong demand from buyers drove the stock to $23.05.
Actively observing the price movement in the last trading, the stock closed the session at $24.62, falling within a range of $22.205 and $24.6. The value of beta (5-year monthly) was -0.46. Referring to stock’s 52-week performance, its high was $33.89, and the low was $2.10. On the whole, SMMT has fluctuated by 16.24% over the past month.
With the market capitalization of Summit Therapeutics Inc currently standing at about $17.00 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2025-Feb-23.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that SMMT’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of SMMT currently trading nearly 13.79% and 14.98% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 57.67, while the 7-day volatility ratio is showing 14.76% which for the 30-day chart, stands at 10.10%. Furthermore, Summit Therapeutics Inc (SMMT)’s beta value is -0.98, and its average true range (ATR) is 2.17.
A comparison of Summit Therapeutics Inc (SMMT) with its peers suggests the former has fared considerably weaker in the market. SMMT showed an intraday change of -6.38% in last session, and over the past year, it grew by 530.64%%.
Data on historical trading for Summit Therapeutics Inc (NASDAQ:SMMT) indicates that the trading volumes over the past 10 days have averaged 5.36 and over the past 3 months, they’ve averaged 2.90 million. According to company’s latest data on outstanding shares, there are 737.63 million shares outstanding.
Nearly 84.93% of Summit Therapeutics Inc’s shares belong to company insiders and institutional investors own 12.61% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 23.77 million shares as on 2025-03-31, resulting in a short ratio of 10.06. According to the data, the short interest in Summit Therapeutics Inc (SMMT) stood at 1996.00 of shares outstanding as of 2025-03-31; the number of short shares registered in 2025-02-28 reached 21.63 million. The stock has risen by 29.17% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SMMT stock heading into the next quarter.
