Stocks of Summit Therapeutics Inc (NASDAQ:SMMT) traded higher last session on Wall Street, down -8.06% to $21.57.
SMMT stock price is now 19.30% away from the 50-day moving average and 148.56% away from the 200-day moving average. The market capitalization of the company currently stands at $15.62B.
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With the price target enhanced from $19 to $23, Citigroup Downgraded its rating from Buy to Neutral for Summit Therapeutics Inc (NASDAQ: SMMT). On August 12, 2024, H.C. Wainwright recently initiated its ‘Buy’ rating on the stock quoting a target price of $16, while ‘Citigroup’ rates the stock as ‘Buy’
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 $537.61 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 26 ’24, Chief Executive Officer Zanganeh Mahkam bought 30,000 shares of the business’s stock. A total of $112,500 was incurred on buying the stock at an average price of $3.75. This leaves the insider owning 30,000 shares of the company worth $0.65 million. A total of 84.68% of the company’s stock is owned by insiders.
During the past 12 months, Summit Therapeutics Inc has had a low of $1.64 and a high of $33.89. As of last week, the company has a debt-to-equity ratio of 0.56, a current ratio of 2.35, and a quick ratio of 2.35. The fifty day moving average price for SMMT is $18.0805 and a two-hundred day moving average price translates $8.67805 for the stock.
The latest earnings results from Summit Therapeutics Inc (NASDAQ: SMMT) was released for 2024-06-30.
