As of Wednesday close, Summit Therapeutics Inc.’s (NASDAQ:SMMT) stock was down -$0.03, moving down -1.70 percent to $1.73. The average number of shares traded per day over the past five days has been 727,520 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.0200 fall in that time frame. In the last twenty days, the average volume was 1,157,490, while in the previous 50 days, it was 1,579,702.
Since last month, SMMT stock retreated -17.22%. Shares of the company fell to $1.6900 on 08/14/23, the lowest level in the past month. A 52-week high of $5.78 was reached on 01/04/23 after having rallying from a 52-week low of $0.66. Since the beginning of this year, SMMT’s stock price has dropped by -59.29% or -$2.5200, and marked a new high 2 times. However, the stock has declined by -70.07% since its 52-week high.
SMMT stock investors should be aware that Summit Therapeutics Inc. (SMMT) stock had its last reported insider trading activity 176 days ago on Mar 08. Zanganeh Mahkam, the Co-Chief Executive Officer of the company, purchased of 15,973,743 shares for $1.05 on Mar 08. It resulted in a $16,772,430 investment by the insider. Zanganeh Mahkam added 7,553,301 shares at an average price of $1.05 on Mar 08. The insider now owns 9,884,095 shares following the transaction. On Mar 07, Chief Financial Officer Dhingra Ankur bought 196,362 shares at $1.05 apiece. The transaction was valued at $206,180.
Valuation Metrics
The stock’s beta is -0.85. Besides these, the trailing price-to-sales (P/S) ratio of 6035.11, the price-to-book (PB) ratio of 10.18.
Financial Health
In the three months ended September 29, Summit Therapeutics Inc.’s quick ratio stood at 19.10, while its current ratio was 19.10, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.84, and the total debt-to-equity ratio was 0.84. Based on annual data, SMMT earned $72.79 million in gross profit and brought in $0.7 million in revenue.
In Summit Therapeutics Inc.’s quarter-end financial report for September 29, it reported total debt of $100.0 million. While analysts expected Summit Therapeutics Inc. to report -$0.29 quarterly earnings, the actual figure was -$1 per share, beating the consensus estimate by -244.80%. During the quarter, the company generated -$15.32 million in EBITDA. The liabilities of Summit Therapeutics Inc. were 117.77 million at the end of its most recent quarter ended September 29, and its total debt was $107.26 million.
Technical Picture
This quick technical analysis looks at Summit Therapeutics Inc.’s (SMMT) price momentum. With a historical volatility rate of 60.11%, the RSI 9-day stood at 40.25% on 30 August.
With respect to its five-day moving average, the current Summit Therapeutics Inc. price is down by -1.14% percent or -$0.0200. At present, SMMT shares trade -11.28% below its 20-day simple moving average and +13.07% percent above its 100-day simple moving average. However, the stock is currently trading approximately -29.67% below its SMA50 and +73.02% above its SMA200.
Stochastic coefficient K was 17.14% and Stochastic coefficient D was 19.88%, while ATR was 0.1291. Given the Stochastic reading of 11.43% for the 14-day period, the RSI (14) reading has been calculated as 41.95%. As of today, the MACD Oscillator reading stands at -0.0322, while the 14-day reading stands at -0.0517.
Analyst Ratings
Summit Therapeutics Inc. downgraded its rating on Summit Therapeutics Inc. (NASDAQ: SMMT) to a Neutral in a note to investors on June 28, 2018. The analysts firm previously had a Buy rating on the stock.Summit Therapeutics Inc. (SMMT) has been rated Hold by analysts. According to 0 brokerage firms, SMMT is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Summit Therapeutics Inc. stock as buy, with 0 recommending it as overweight.
With a median target price of $4.00, the current consensus forecast for the stock is $4.00 – $4.00. Based on these forecasts, analysts predict Summit Therapeutics Inc. (SMMT) will achieve an average price target of $4.00.
