Summit Therapeutics (NASDAQ:SMMT) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Summit Therapeutics (NASDAQ:SMMTGet Rating) in a note issued to investors on Sunday. The brokerage set a “sell” rating on the stock.

SMMT stock opened at $1.11 on Friday. The company has a market capitalization of $108.92 million, a PE ratio of -1.14 and a beta of 0.99. Summit Therapeutics has a 12-month low of $0.88 and a 12-month high of $8.50. The business’s fifty day moving average price is $1.84 and its 200 day moving average price is $2.76.

Summit Therapeutics (NASDAQ:SMMTGet Rating) last posted its quarterly earnings data on Thursday, March 17th. The company reported ($0.28) earnings per share (EPS) for the quarter. The firm had revenue of $4.84 million during the quarter. Summit Therapeutics had a negative net margin of 735.61% and a negative return on equity of 100.17%.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Summit Therapeutics by 16.7% during the 4th quarter. BlackRock Inc. now owns 1,400,740 shares of the company’s stock worth $3,768,000 after purchasing an additional 200,150 shares during the period. Polar Capital Holdings Plc increased its holdings in Summit Therapeutics by 2.5% during the 1st quarter. Polar Capital Holdings Plc now owns 6,272,509 shares of the company’s stock worth $15,368,000 after purchasing an additional 154,598 shares during the period. Russell Investments Group Ltd. increased its holdings in Summit Therapeutics by 148.2% during the 4th quarter. Russell Investments Group Ltd. now owns 216,991 shares of the company’s stock worth $582,000 after purchasing an additional 129,578 shares during the period. Morgan Stanley increased its holdings in Summit Therapeutics by 27.8% during the 3rd quarter. Morgan Stanley now owns 277,946 shares of the company’s stock worth $1,392,000 after purchasing an additional 60,409 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Summit Therapeutics by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 251,486 shares of the company’s stock worth $1,259,000 after purchasing an additional 29,893 shares during the period. Hedge funds and other institutional investors 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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