Summit Therapeutics (NASDAQ:SMMT) Now Covered by StockNews.com

Analysts at StockNews.com began coverage on shares of Summit Therapeutics (NASDAQ:SMMT – Get Rating) in a research report issued on Wednesday. The brokerage set a “sell” rating on the stock.

Shares of SMMT opened at $1.13 on Wednesday. The stock has a fifty day moving average price of $1.27 and a two-hundred day moving average price of $2.23. Summit Therapeutics has a 52-week low of $0.88 and a 52-week high of $8.39. The company has a market cap of $110.88 million, a price-to-earnings ratio of -1.16 and a beta of 1.00.

Summit Therapeutics (NASDAQ:SMMT – Get Rating) last issued its quarterly earnings data on Wednesday, May 11th. The company reported ($0.22) earnings per share (EPS) for the quarter. Summit Therapeutics had a negative net margin of 735.61% and a negative return on equity of 100.17%. The business had revenue of $5.06 million during the quarter.

Institutional investors and hedge funds have recently modified their holdings of the business. Vance Wealth Inc. acquired a new stake in shares of Summit Therapeutics in the 4th quarter valued at $33,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Summit Therapeutics in the 4th quarter valued at $46,000. Geode Capital Management LLC increased its stake in shares of Summit Therapeutics by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 251,486 shares of the company’s stock valued at $1,259,000 after buying an additional 29,893 shares during the period. BlackRock Inc. increased its stake in shares of Summit Therapeutics by 9.6% in the 3rd quarter. BlackRock Inc. now owns 1,200,590 shares of the company’s stock valued at $6,015,000 after buying an additional 105,443 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Summit Therapeutics by 148.2% in the 4th quarter. Russell Investments Group Ltd. now owns 216,991 shares of the company’s stock valued at $582,000 after buying an additional 129,578 shares during the period. Hedge funds and other institutional investors own 11.33% of the company’s stock.

Summit Therapeutics Company Profile (Get Rating)

Summit Therapeutics Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat infectious diseases in the United States and Latin America. It conducts clinical programs focusing on Clostridioides difficile infection (CDI). The company's lead product candidate is ridinilazole, an orally administered small molecule antibiotic that is in Phase III clinical trials for the treatment of CDI.

Read More