Summit Therapeutics PLC (NASDAQ:SMMT - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Traders purchased 20,567 call options on the stock. Thisrepresentsanincreaseofapproximately123% compared to the typical volume of 9,239 call options.
Summit Therapeutics Stock Performance
Shares of SMMT traded down $0.41 during trading hours on Monday, hitting $28.25. The company had a trading volume of 1,876,476 shares, compared to its average volume of 3,624,670. The firm has a fifty day moving average price of $23.77 and a 200-day moving average price of $22.63. The stock has a market capitalization of $20.98 billion, a price-to-earnings ratio of -83.09 and a beta of -1.06. Summit Therapeutics has a 52-week low of $10.60 and a 52-week high of $36.91.
Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.66). Research analysts anticipate that Summit Therapeutics will post -0.3 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
SMMT has been the subject of several research reports. HC Wainwright restated a "buy" rating and set a $44.00 price target on shares of Summit Therapeutics in a research report on Tuesday, July 1st. TD Cowen raised shares of Summit Therapeutics to a "strong-buy" rating in a research note on Thursday, May 8th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Summit Therapeutics in a research note on Wednesday, April 23rd. Leerink Partners started coverage on shares of Summit Therapeutics in a research report on Wednesday, June 11th. They set an "underperform" rating and a $12.00 price target on the stock. Finally, Leerink Partnrs upgraded shares of Summit Therapeutics to a "strong sell" rating in a report on Wednesday, June 11th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Summit Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.67.
Check Out Our Latest Analysis on SMMT
Hedge Funds Weigh In On Summit Therapeutics
A number of hedge funds have recently bought and sold shares of SMMT. Cerity Partners LLC grew its stake in shares of Summit Therapeutics by 0.4% during the 1st quarter. Cerity Partners LLC now owns 113,654 shares of the company's stock valued at $2,192,000 after acquiring an additional 440 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of Summit Therapeutics by 34.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,756 shares of the company's stock worth $37,000 after acquiring an additional 447 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Summit Therapeutics by 11.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,328 shares of the company's stock valued at $122,000 after buying an additional 647 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Summit Therapeutics by 1.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,411 shares of the company's stock valued at $1,273,000 after buying an additional 694 shares during the period. Finally, Golden State Wealth Management LLC raised its holdings in Summit Therapeutics by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,502 shares of the company's stock valued at $29,000 after buying an additional 751 shares during the period. Hedge funds and other institutional investors own 4.61% of the company's stock.
Summit Therapeutics Company Profile
(
Get Free Report)
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.
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