Stocks of Summit Therapeutics Inc (NASDAQ:SMMT) traded higher last session on Wall Street, down -29.29% to $2.39.
SMMT stock price is now -40.85% away from the 50-day moving average and -20.37% away from the 200-day moving average. The market capitalization of the company currently stands at $1.68B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target of $7, Citigroup recently initiated with Buy rating for Summit Therapeutics Inc (NASDAQ: SMMT). On March 26, 2024, Stifel recently initiated its ‘Buy’ rating on the stock quoting a target price of $8, while ‘Janney’ rates the stock as ‘Neutral’
In other news, Zanganeh Mahkam, Chief Executive Officer bought 54,321 shares of the company’s stock on Mar 27 ’24. The stock was bought for $201,874 at an average price of $3.72. Upon completion of the transaction, the Chief Executive Officer now directly owns 24,923,800 shares in the company, valued at $59.57 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 27 ’24, Chief Executive Officer Zanganeh Mahkam bought 26,000 shares of the business’s stock. A total of $96,720 was incurred on buying the stock at an average price of $3.72. This leaves the insider owning 520,814 shares of the company worth $1.24 million. A total of 88.18% of the company’s stock is owned by insiders.
During the past 12 months, Summit Therapeutics Inc has had a low of $1.50 and a high of $5.39. As of last week, the company has a debt-to-equity ratio of 2.48, a current ratio of 6.97, and a quick ratio of 6.97. The fifty day moving average price for SMMT is $4.0404 and a two-hundred day moving average price translates $3.0014 for the stock.
The latest earnings results from Summit Therapeutics Inc (NASDAQ: SMMT) was released for 2024-03-31.
