Baker Bros. Advisors LP has recently announced that it has increased stake in Summit Therapeutics Inc. (NASDAQ:SMMT) by 215.24%. After grabbing 6.3 million shares, the institutional investor is now in possession of 4.3 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 0.90% having worth around $8.32 million. Moreover, Susquehanna Financial Group LLLP increased its share by 1.25 million to have a control over 1.53 million shares. And BlackRock Fund Advisors raised its holdings to 1.04 million shares by acquiring 1.47 million shares or 0.21% of the stake.
Summit Therapeutics Inc. (SMMT) concluded trading on 05/24/23 at a closing price of $1.72, with 1.36 million shares of worth about $2.33 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 93.69% during that period and on Wednesday the price saw a gain of about 1.18%. Currently the company’s common shares owned by public are about 193.34M shares, out of which, 114.58M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 1 analysts are covering the SMMT stock and their offered price forecasts bring an average price target of $4.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $4.00 and could fall to a lowest price of $4.00. However, touching the estimated high of $4.00 would mean a gain of 57.0% for the stock.
Vanguard Total Stock Market ETF, iShares Biotechnology ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Summit Therapeutics Inc. Vanguard Total Stock Market ETF is currently holding 0.93 million shares of worth totaling $1.23 million. The company recently came buying 0.0 shares which brought its stake up to 0.13% of the company’s outstanding shares. iShares Biotechnology ETF sold 1406.0 shares, after which its hold over company’s outstanding shares shrunk to 0.12%, leaving 0.85 million shares with the mutual fund that have a worth of about $1.12 million. Vanguard Extended Market Index Fu, after buying 0.48 million shares, have now control over 0.07% of the stake in the company. It holds 0.0 shares of worth $0.64 million.
Summit Therapeutics Inc. (NASDAQ: SMMT) started trading at $1.69, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 1.7300, or with a gain of 1.18%. Stock saw a price change of 1.78% in past 5 days and over the past one month there was a price change of 26.47%. Year-to-date (YTD), SMMT shares are showing a performance of -59.53% which increased to 78.15% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.66 but also hit the highest price of $5.78 during that period. The average intraday trading volume for Summit Therapeutics Inc. shares is 2.18 million. The stock is currently trading 1.50% above its 20-day simple moving average (SMA20), while that difference is up 3.59% for SMA50 and it goes to -11.73% lower than SMA200.
Baker Bros. Advisors LP acquired 6.3 million shares of Summit Therapeutics Inc. having value of about $8.32 million. Data submitted at the U.S SEC by Baker Bros. Advisors LP revealed that the firm now holds 4.3 million shares in the company valued at close to $7404092.6, or have control over 215.24% stake in the company. Summit Therapeutics Inc. (NASDAQ: SMMT) currently have 193.34M outstanding shares and institutions hold larger chunk of about 1.70% of that. Holding of mutual funds in the company is about 2.38% while other institutional holders and individual stake holders have control over 92.22% and 0.67% of the stake respectively.
The stock has a current market capitalization of $1.16B and its 3Y-monthly beta is at -1.05. It has posted earnings per share of -$0.63 in the same period. It has Quick Ratio of 16.90 while making debt-to-equity ratio of 4.06. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SMMT, volatility over the week remained 9.94% while standing at 12.22% over the month.
Analysts are in expectations that Summit Therapeutics Inc. (SMMT) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is $0 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.24 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 57.60%.
Analysts at 1 brokerage firms have issued recommendations for the Summit Therapeutics Inc. (SMMT)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 1 Wall Street analysts, 0 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
