Summit Therapeutics (SMMT) to Release Earnings on Wednesday

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) will release its earnings data before the market opens on Wednesday, May 1st. Analysts expect Summit Therapeutics to post earnings of ($0.06) per share for the quarter. Persons interested in participating in the company's earnings conference call can do so using this link.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $0.20 million for the quarter. On average, analysts expect Summit Therapeutics to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Summit Therapeutics Trading Down 1.1 %

Shares of Summit Therapeutics stock traded down $0.04 during mid-day trading on Thursday, hitting $3.55. The stock had a trading volume of 1,407,270 shares, compared to its average volume of 2,184,827. The firm has a 50-day moving average of $4.08 and a two-hundred day moving average of $3.15. Summit Therapeutics has a 12-month low of $1.30 and a 12-month high of $5.22. The company has a quick ratio of 9.30, a current ratio of 9.30 and a debt-to-equity ratio of 1.29. The firm has a market cap of $2.49 billion, a P/E ratio of -2.32 and a beta of -1.21.

Insiders Place Their Bets

In other news, CFO Ankur Dhingra acquired 100,000 shares of Summit Therapeutics stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average cost of $3.75 per share, for a total transaction of $375,000.00. Following the acquisition, the chief financial officer now owns 354,958 shares of the company's stock, valued at $1,331,092.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Mahkam Zanganeh acquired 30,000 shares of Summit Therapeutics stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average cost of $3.75 per share, for a total transaction of $112,500.00. Following the acquisition, the chief executive officer now owns 30,000 shares of the company's stock, valued at $112,500. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Ankur Dhingra purchased 100,000 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average price of $3.75 per share, for a total transaction of $375,000.00. Following the completion of the purchase, the chief financial officer now directly owns 354,958 shares in the company, valued at $1,331,092.50. The disclosure for this purchase can be found here. 83.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus initiated coverage on shares of Summit Therapeutics in a research report on Tuesday, March 26th. They set a "buy" rating and a $8.00 price objective for the company.

Summit Therapeutics Company Profile

Summit Therapeutics Inc, a biopharmaceutical company, focuses on discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies in the United States, and the United Kingdom. The company's lead development candidate is Ivonescimab, a bispecific antibody for immunotherapy through blockade of PD-1 with the anti-angiogenesis; and anti-infectives portfolio includes SMT-738, a novel class of precision antibiotics for the treatment of multidrug resistant infections, which primarily includes carbapenem-resistant Enterobacteriaceae infections.