Summit Therapeutics Inc. [SMMT] Revenue clocked in at $0.90 million, up 45.74% YTD: What’s Next?

Summit Therapeutics Inc. [NASDAQ: SMMT] stock went on an upward path that rose over 26.62% on Monday, amounting to a one-week price increase of more than 22.10%. The company report on May 17, 2021 that Summit Therapeutics Reports Financial Results and Operational Progress for the First Quarter Ended March 31, 2021.

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Cambridge, MA, May 17, 2021 – Summit Therapeutics Inc. (NASDAQ: SMMT) reports its financial results and provides an update on its operational progress for the first quarter ended March 31, 2021.

Note: A glossary of terms is included at the end of this document in order to allow for the ease of understanding of terms or concepts in advance of reviewing this release.

Over the last 12 months, SMMT stock rose by 106.33%. The one-year Summit Therapeutics Inc. stock forecast points to a potential downside of -52.22. The average equity rating for SMMT stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $570.13 million, with 82.58 million shares outstanding and 21.90 million shares in the current float. Compared to the average trading volume of 146.34K shares, SMMT stock reached a trading volume of 2408604 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Summit Therapeutics Inc. [SMMT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SMMT shares is $4.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SMMT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Janney have made an estimate for Summit Therapeutics Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 28, 2018. The new note on the price target was released on May 02, 2018, representing the official price target for Summit Therapeutics Inc. stock. Previously, the target price had yet another drop from $30 to $27, while Needham kept a Buy rating on SMMT stock.

The Average True Range (ATR) for Summit Therapeutics Inc. is set at 0.48, with the Price to Sales ratio for SMMT stock in the period of the last 12 months amounting to 633.47. The Price to Book ratio for the last quarter was 7.14, with the Price to Cash per share for the same quarter was set at 0.80.

SMMT Stock Performance Analysis:

Summit Therapeutics Inc. [SMMT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.10. With this latest performance, SMMT shares gained by 27.80% in over the last four-week period, additionally plugging by 66.67% over the last 6 months – not to mention a rise of 106.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SMMT stock in for the last two-week period is set at 65.05, with the RSI for the last a single of trading hit 72.15, and the three-weeks RSI is set at 60.10 for Summit Therapeutics Inc. [SMMT]. The present Moving Average for the last 50 days of trading for this stock 5.85, while it was recorded at 5.75 for the last single week of trading, and 5.00 for the last 200 days.

Insight into Summit Therapeutics Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Summit Therapeutics Inc. [SMMT] shares currently have an operating margin of -8330.93. Summit Therapeutics Inc.’s Net Margin is presently recorded at -6127.56.

Return on Total Capital for SMMT is now -89.97, given the latest momentum, and Return on Invested Capital for the company is -66.53. Return on Equity for this stock declined to -66.74, with Return on Assets sitting at -52.86. When it comes to the capital structure of this company, Summit Therapeutics Inc. [SMMT] has a Total Debt to Total Equity ratio set at 0.59. Additionally, SMMT Total Debt to Total Capital is recorded at 0.58, with Total Debt to Total Assets ending up at 0.45. Long-Term Debt to Equity for the company is recorded at 0.09, with the Long-Term Debt to Total Capital now at 0.09.

Reflecting on the efficiency of the workforce at the company, Summit Therapeutics Inc. [SMMT] managed to generate an average of -$650,580 per employee. Receivables Turnover for the company is 0.10 with a Total Asset Turnover recorded at a value of 0.01.Summit Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.40 and a Current Ratio set at 4.40.

SMMT Stock EPS

With the latest financial reports released by the company, Summit Therapeutics Inc. posted -0.22/share EPS, while the average EPS was predicted by analysts to be reported at -0.4/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 45.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SMMT.

Summit Therapeutics Inc. [SMMT] Insider Position Details

There are presently around $98 million, or 10.70% of SMMT stock, in the hands of institutional investors. The top three institutional holders of SMMT stocks are: POLAR CAPITAL HOLDINGS PLC with ownership of 6,158,800, which is approximately 6.186% of the company’s market cap and around 73.16% of the total institutional ownership; POLAR CAPITAL LLP, holding 5,000,000 shares of the stock with an approximate value of $34.25 million in SMMT stocks shares; and BLACKROCK INC., currently with $5.12 million in SMMT stock with ownership of nearly 2.257% of the company’s market capitalization.

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Positions in Summit Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 27 institutional holders increased their position in Summit Therapeutics Inc. [NASDAQ:SMMT] by around 1,590,094 shares. Additionally, 13 investors decreased positions by around 907,481 shares, while 6 investors held positions by with 11,804,314 shares. The mentioned changes placed institutional holdings at 14,301,889 shares, according to the latest SEC report filing. SMMT stock had 10 new institutional investments in for a total of 120,637 shares, while 4 institutional investors sold positions of 100,589 shares during the same period.

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