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Saturday, June 3, 2023

Momentum Is Strong For Summit Therapeutics Inc. (NASDAQ: SMMT)

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Summit Therapeutics Inc. (SMMT) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.01, or 0.59%, to $1.70. The Summit Therapeutics Inc. has recorded 10,928 volume in the after hours trading session. Earlier, Yahoo Finance discussed this stock as it revealed Summit Therapeutics Reports Financial Results and Operational Progress for the First Quarter Ended March 31, 2023.

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Stocks Info

This NASDAQ-listed company operates within the Biotechnology industry segment, falling under the Healthcare sector. At the end of the last regular session, the stock closed at $1.69 and fluctuated between $1.7000 as its day high and $1.5000 as its day low. The current market capitalization of Summit Therapeutics Inc. is $1.32B. A total of 1.26 million shares were traded on the day, compared to an average of 2.16M shares.

In the most recent transaction, Zanganeh Mahkam bought 15,973,743 shares of SMMT for 1.05 per share on Mar 08. After the transaction, the Co-Chief Executive Officer now owns 23,395,269 company shares. In a previous transaction on Mar 08, Zanganeh Mahkam bought 7,553,301 shares at 1.05 per share. SMMT shares that Co-Chief Executive Officer owns now total 9,884,095.

Among the insiders who bought shares, Dhingra Ankur acquired of 196,362 shares on Mar 07 at a per-share price of $1.05. This resulted in the Chief Financial Officer holding 234,558 shares of SMMT after the transaction. In another insider transaction, DUGGAN ROBERT W bought 376,489,880 shares at $1.05 per share on Mar 06. Company shares held by the Chief Executive Officer now total 552,354,161.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for SMMT in the last 3 months, the mean price target is $4.00 with high estimates of $4.00 and low estimates of $4.00. In terms of 52-week highs and lows, SMMT has a high of $5.78 and a low of $0.66.

As of this writing, SMMT has an earnings estimate of $0 per share for the current quarter. EPS was calculated based on a consensus of 0 estimates, with a high estimate of $0 per share and a lower estimate of $0.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. SMMT’s latest balance sheet shows that the firm has $71.79M in Cash & Short Term Investments as of fiscal 2021. There were $2.78M in debt and $25.62M in liabilities at the time. Its Book Value Per Share was $0.66, while its Total Shareholder’s Equity was $83.28M.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for SMMT is Buy with a score of 0.00.

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