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Is This The Best Time To Buy Summit Therapeutics Inc. (NASDAQ: SMMT) Stock?

Summit Therapeutics Inc. (NASDAQ:SMMT) traded at $1.36 at close of the session on Wednesday, September 21, made an upward move of 1.06% on its previous day’s price.

Looking at the stock we see that its previous close was $1.35 and the beta (5Y monthly) reads 0.96 with the day’s price range being $1.20 – $1.41. In terms of its 52-week price range, SMMT has a high of $6.54 and a low of $0.88. The company’s stock has gained about 22.73% over that past 30 days.

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Summit Therapeutics Inc. has a market cap of $292.71 million and is expected to release its quarterly earnings report on Nov 14, 2022 – Nov 18, 2022.

According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2021 is expected to hit $1.56 million, or -92.30% down from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SMMT stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of Hold. Long term indicators on average place the stock in the category of 50% Sell.

Based on estimates by 1 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the Summit Therapeutics Inc. (SMMT) stock as a Hold, while 0 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 7.72% off its SMA20 and 20.13% from its 50-day simple moving average. The RSI (14) is pointing at 56.31 while the volatility over the past week is 10.49% and jumps to 14.01% over the past one month. The beta value is 0.93, while the average true range (ATR) is currently pointing at 0.15. The average price target for the stock over the next 12 months is $4.00, with the estimates having a low of $4.00 and a high of $4.00. These price ends are -194.12% and -194.12% off the current price level respectively, although investors could be excited at the prospect of a -194.12% if the SMMT share price touches on the median price of $4.00.

Coming back to Summit Therapeutics Inc. (NASDAQ:SMMT), we note that the average 3-month trading volume was 2.04 million, while that of the preceding 10-day period stands at 0.71 million. Current shares outstanding are 99.65 million.

The insiders hold 81.00% of the company’s shares while institutions hold 4.10%. The data shows that short shares as of Aug 30, 2022, stood at 0.35 million at a short ratio of 0.07. This represents a 0.17% short interest in shares outstanding on Aug 30, 2022. Shares short fall in August from the previous month at 0.87 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -49.81% down in year-to-date price movement.

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