Summit Therapeutics Inc. [NASDAQ: SMMT] traded at a high on 03/16/23, posting a 11.59 gain after which it closed the day’ session at $1.83. The company report on March 9, 2023 that Summit Therapeutics Reports Financial Results and Operational Progress for the Fourth Quarter and Year Ended December 31, 2022.
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Summit Therapeutics Inc. (NASDAQ: SMMT) (“Summit,” “we,” or the “Company”) today reports its financial results and provides an update on operational progress for the fourth quarter and year ended December 31, 2022.
The results of the trading session contributed to over 3612263 shares changing hands. Over the past one week, the price volatility of Summit Therapeutics Inc. stands at 11.17% while the volatility over the past one month is 13.90%.
The market cap for SMMT stock reached $385.89 million, with 148.58 million shares outstanding and 34.00 million shares in the current float. Compared to the average trading volume of 4.13M shares, SMMT reached a trading volume of 3612263 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Summit Therapeutics Inc. [SMMT]?
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 0.30, with the Price to Sales ratio for SMMT stock in the period of the last 12 months amounting to 385.89. The Price to Book ratio for the last quarter was 2.03, with the Price to Cash per share for the same quarter was set at 0.58.
How has SMMT stock performed recently?
Summit Therapeutics Inc. [SMMT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 28.87. With this latest performance, SMMT shares dropped by -12.02% in over the last four-week period, additionally plugging by 38.64% over the last 6 months – not to mention a drop of -33.94% 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 44.74, with the RSI for the last a single of trading hit 51.07, and the three-weeks RSI is set at 43.78 for Summit Therapeutics Inc. [SMMT]. The present Moving Average for the last 50 days of trading for this stock 2.9077, while it was recorded at 1.6460 for the last single week of trading, and 1.8031 for the last 200 days.
Summit Therapeutics Inc. [SMMT]: Deeper insight into the 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 8.20 and a Current Ratio set at 8.20.
Insider trade positions for Summit Therapeutics Inc. [SMMT]
There are presently around $15 million, or 1.70% of SMMT stock, in the hands of institutional investors. The top three institutional holders of SMMT stocks are: BAKER BROS. ADVISORS LP with ownership of 2,000,000, which is approximately New of the company’s market cap and around 90.80% of the total institutional ownership; VANGUARD GROUP INC, holding 1,443,558 shares of the stock with an approximate value of $2.64 million in SMMT stocks shares; and MARSHALL WACE, LLP, currently with $1.14 million in SMMT stock with ownership of nearly 342.817% of the company’s market capitalization.
Positions in Summit Therapeutics Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 43 institutional holders increased their position in Summit Therapeutics Inc. [NASDAQ:SMMT] by around 5,629,426 shares. Additionally, 16 investors decreased positions by around 768,815 shares, while 11 investors held positions by with 1,656,309 shares. The mentioned changes placed institutional holdings at 8,054,550 shares, according to the latest SEC report filing. SMMT stock had 25 new institutional investments in for a total of 3,845,998 shares, while 9 institutional investors sold positions of 545,984 shares during the same period.