Summit Therapeutics (NASDAQ:SMMT) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Summit Therapeutics (NASDAQ:SMMTGet Rating) in a research note released on Thursday. The firm issued a sell rating on the stock.

Shares of SMMT opened at $0.95 on Thursday. The stock’s 50-day simple moving average is $1.14 and its 200 day simple moving average is $2.03. The stock has a market capitalization of $93.21 million, a price-to-earnings ratio of -0.98 and a beta of 1.11. Summit Therapeutics has a 52-week low of $0.88 and a 52-week high of $8.39.

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

Several large investors have recently added to or reduced their stakes in SMMT. Geode Capital Management LLC raised its holdings in shares of Summit Therapeutics by 13.5% during 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 in the last quarter. Polar Capital Holdings Plc raised its holdings in shares of Summit Therapeutics by 2.5% during the 1st quarter. Polar Capital Holdings Plc now owns 6,272,509 shares of the company’s stock valued at $15,368,000 after buying an additional 154,598 shares in the last quarter. Vance Wealth Inc. purchased a new position in shares of Summit Therapeutics during the 4th quarter valued at about $33,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Summit Therapeutics during the 4th quarter valued at about $46,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Summit Therapeutics by 148.2% during 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 in the last quarter. 11.33% of the stock is currently owned by hedge funds and other institutional investors.

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.

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