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

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

Shares of NASDAQ:SMMT opened at $1.18 on Friday. The stock has a market cap of $115.78 million, a price-to-earnings ratio of -1.23 and a beta of 0.99. Summit Therapeutics has a 12-month low of $1.01 and a 12-month high of $8.70. The business’s 50 day moving average is $2.26 and its 200 day moving average is $3.11.

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

Institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. lifted its holdings in Summit Therapeutics by 85.3% during the third quarter. Advisor Group Holdings Inc. now owns 11,080 shares of the company’s stock worth $56,000 after acquiring an additional 5,100 shares during the period. Vance Wealth Inc. bought a new stake in Summit Therapeutics during the fourth quarter worth $33,000. Virtu Financial LLC bought a new stake in Summit Therapeutics during the fourth quarter worth $37,000. Hoylecohen LLC raised its stake in shares of Summit Therapeutics by 47.9% in the third quarter. Hoylecohen LLC now owns 15,432 shares of the company’s stock valued at $77,000 after buying an additional 5,000 shares during the period. Finally, Invesco Ltd. bought a new stake in shares of Summit Therapeutics in the second quarter valued at $120,000. Institutional investors and hedge funds 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.

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