Summit Therapeutics Inc [NASDAQ: SMMT] surged by $1.62 during the normal trading session on while it closed the day at $23.46.
Summit Therapeutics Inc stock has also gained 24.13% of its value over the past 7 days. However, SMMT stock has inclined by 140.62% in the 3 months of the year. Over the past six months meanwhile, it has gained 557.14% and gained 798.85% year-on date.
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The market cap for SMMT stock reached $16.99 billion, with 701.66 million shares outstanding and 110.95 million shares in the current float. Compared to the average trading volume of 4.96M shares, SMMT reached a trading volume of 4671710 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about 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 $36.00 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 1.67. 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.
Citigroup have made an estimate for Summit Therapeutics Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 27, 2024. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on August 12, 2024, representing the official price target for Summit Therapeutics Inc stock. Previously, the target price had yet another raise to $7, while Citigroup analysts kept a Buy rating on SMMT stock.
The Average True Range (ATR) for Summit Therapeutics Inc is set at 2.06 The Price to Book ratio for the last quarter was 87.11, with the Price to Cash per share for the same quarter was set at 0.45.
SMMT stock trade performance evaluation
Summit Therapeutics Inc [SMMT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.13. With this latest performance, SMMT shares dropped by -10.53% in over the last four-week period, additionally plugging by 557.14% over the last 6 months – not to mention a rise of 1240.57% 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 60.75, with the RSI for the last a single of trading hit 65.40, and the three-weeks RSI is set at 59.70 for Summit Therapeutics Inc [SMMT]. The present Moving Average for the last 50 days of trading for this stock 17.84, while it was recorded at 20.82 for the last single week of trading, and 8.58 for the last 200 days.
Summit Therapeutics Inc [SMMT]: An insightful look at the core fundamentals
Summit Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.35 and a Current Ratio set at 2.35.
Summit Therapeutics Inc [SMMT]: Institutional Ownership
There are presently around $10.12%, or 65.85%% 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 23.22 million shares, which is approximately 3.309%. VANGUARD GROUP INC, holding 8.82 million shares of the stock with an approximate value of $$68.78 million in SMMT stocks shares; and VANGUARD GROUP INC, currently with $$61.61 million in SMMT stock with ownership which is approximately 1.1255%.
