Summit Therapeutics Inc. [SMMT] is 60.97% higher this YTD. Is it still time to buy?

Summit Therapeutics Inc. [NASDAQ: SMMT] price surged by 19.94 percent to reach at $0.72. The company report on December 6, 2022 that Summit Therapeutics Partners with Akeso Inc. in Deal for Up to $5 Billion to In-License Breakthrough Innovative Bispecific Antibody.

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A sum of 28688290 shares traded at recent session while its average daily volume was at 7.17M shares. Summit Therapeutics Inc. shares reached a high of $5.40 and dropped to a low of $3.36 until finishing in the latest session at $4.33.

The one-year SMMT stock forecast points to a potential upside of 13.4. The average equity rating for SMMT stock is currently 1.00, trading closer to a bullish pattern in the stock market.

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 $5.00 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 1.00. 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. While these analysts kept the previous recommendation, Janney raised their target price to Buy. 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 0.68, with the Price to Sales ratio for SMMT stock in the period of the last 12 months amounting to 864.44. The Price to Book ratio for the last quarter was 4.81, with the Price to Cash per share for the same quarter was set at 0.61.

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 53.55. With this latest performance, SMMT shares gained by 337.11% in over the last four-week period, additionally plugging by 333.00% over the last 6 months – not to mention a drop of -13.05% 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 71.41, with the RSI for the last a single of trading hit 71.91, and the three-weeks RSI is set at 70.73 for Summit Therapeutics Inc. [SMMT]. The present Moving Average for the last 50 days of trading for this stock 1.51, while it was recorded at 3.74 for the last single week of trading, and 1.48 for the last 200 days.

Insight into Summit Therapeutics Inc. Fundamentals:

Summit Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.20 and a Current Ratio set at 8.20.

Summit Therapeutics Inc. [SMMT] Insider Position Details

There are presently around $14 million, or 1.70% of SMMT stock, in the hands of institutional investors. The top three institutional holders of SMMT stocks are: VANGUARD GROUP INC with ownership of 775,922, which is approximately 0% of the company’s market cap and around 91.00% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 431,560 shares of the stock with an approximate value of $1.87 million in SMMT stocks shares; and BLACKROCK INC., currently with $1.82 million in SMMT stock with ownership of nearly 39.336% of the company’s market capitalization.

Positions in Summit Therapeutics Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 28 institutional holders increased their position in Summit Therapeutics Inc. [NASDAQ:SMMT] by around 974,465 shares. Additionally, 15 investors decreased positions by around 6,230,569 shares, while 14 investors held positions by with 3,996,449 shares. The mentioned changes placed institutional holdings at 3,208,585 shares, according to the latest SEC report filing. SMMT stock had 13 new institutional investments in for a total of 309,462 shares, while 10 institutional investors sold positions of 6,187,879 shares during the same period.

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