Summit Therapeutics (NASDAQ:SMMT) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Summit Therapeutics (NASDAQ:SMMTGet Rating) in a research report issued on Tuesday. The firm set a “sell” rating on the stock.

NASDAQ:SMMT opened at $2.08 on Tuesday. Summit Therapeutics has a twelve month low of $1.88 and a twelve month high of $8.70. The company has a 50-day moving average of $2.56 and a 200-day moving average of $3.53. The firm has a market cap of $204.09 million, a price-to-earnings ratio of -2.17 and a beta of 0.78.

Summit Therapeutics (NASDAQ:SMMTGet Rating) last posted its quarterly earnings data on Thursday, March 17th. The company reported ($0.28) earnings per share for the quarter. Summit Therapeutics had a negative net margin of 493.14% and a negative return on equity of 95.94%. The business had revenue of $4.84 million for the quarter.

Hedge funds have recently bought and sold shares of the business. Vance Wealth Inc. purchased a new stake in Summit Therapeutics during the fourth quarter valued at about $33,000. Virtu Financial LLC purchased a new stake in Summit Therapeutics during the fourth quarter valued at about $37,000. Allspring Global Investments Holdings LLC purchased a new stake in Summit Therapeutics during the fourth quarter valued at about $46,000. Bank of America Corp DE lifted its position in shares of Summit Therapeutics by 68.0% in the fourth quarter. Bank of America Corp DE now owns 19,311 shares of the company’s stock worth $52,000 after purchasing an additional 7,818 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its position in shares of Summit Therapeutics by 85.3% in the third quarter. Advisor Group Holdings Inc. now owns 11,080 shares of the company’s stock worth $56,000 after purchasing an additional 5,100 shares in the last quarter. 11.42% of the stock is owned by institutional investors.

About Summit Therapeutics (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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