Summit Therapeutics Inc (NASDAQ: SMMT) stock jumped 3.76% on Friday to $1.93 against a previous-day closing price of $1.86. With 0.7 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.97 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.9650 whereas the lowest price it dropped to was $1.8800. The 52-week range on SMMT shows that it touched its highest point at $5.78 and its lowest point at $0.66 during that stretch. It currently has a 1-year price target of $4.00. Beta for the stock currently stands at -1.02.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SMMT was up-trending over the past week, with a rise of 1.31%, but this was up by 4.89% over a month. Three-month performance surged to 0.52% while six-month performance rose 14.88%. The stock gained 85.58% in the past year, while it has lost -54.59% so far this year.
Float and Shares Shorts:
At present, 211.09 million SMMT shares are outstanding with a float of 111.77 million shares on hand for trading. On Oct 30, 2023, short shares totaled 9.48 million, which was 1.35% higher than short shares on Sep 28, 2023. In addition to Mr. Robert W. Duggan as the firm’s Co-CEO & Executive Chairman, Dr. Mahkam Zanganeh D.D.S., M.B.A. serves as its Co-CEO, President & Director.
Through their ownership of 3.27% of SMMT’s outstanding shares, institutional investors have minority control over the company.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SMMT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SMMT analysts setting a high price target of $4.00 and a low target of $4.00, the average target price over the next 12 months is $4.00. Based on these targets, SMMT could surge 107.25% to reach the target high and rise by 107.25% to reach the target low. Reaching the average price target will result in a growth of 107.25% from current levels.