Summit Therapeutics Inc [NASDAQ: SMMT] stock went on a downward path that fall over -14.57% on Wednesday, amounting to a one-week price decrease of less than -6.89%.
Over the last 12 months, SMMT stock rose by 868.83%. The one-year Summit Therapeutics Inc stock forecast points to a potential upside of 48.19. The average equity rating for SMMT stock is currently 1.67, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $13.51 billion, with 701.66 million shares outstanding and 110.95 million shares in the current float. Compared to the average trading volume of 5.01M shares, SMMT stock reached a trading volume of 3886571 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 $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 1.88 The Price to Book ratio for the last quarter was 69.25, with the Price to Cash per share for the same quarter was set at 0.45.
SMMT Stock Performance Analysis:
Summit Therapeutics Inc [SMMT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.89. With this latest performance, SMMT shares dropped by -7.21% in over the last four-week period, additionally plugging by 296.81% over the last 6 months – not to mention a rise of 868.83% 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 44.09, with the RSI for the last a single of trading hit 39.20, and the three-weeks RSI is set at 47.45 for Summit Therapeutics Inc [SMMT]. The present Moving Average for the last 50 days of trading for this stock 19.75, while it was recorded at 20.69 for the last single week of trading, and 9.47 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 2.35 and a Current Ratio set at 2.35.
Summit Therapeutics Inc [SMMT] Institutonal Ownership Details
There are presently around $10.32%, or 67.12%% 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%.
