Summit Therapeutics Inc (NASDAQ:SMMT) shares, rose in value on Thursday, January 02, with the stock price up by 4.47% to the previous day’s close as strong demand from buyers drove the stock to $18.64.
Actively observing the price movement in the recent trading, the stock is buoying the session at $17.84, falling within a range of $17.75 and $18.77. The value of beta (5-year monthly) is -0.923. Referring to stock’s 52-week performance, its high was $33.89, and the low was $2.10. On the whole, SMMT has fluctuated by 0.83% over the past month.
With the market capitalization of Summit Therapeutics Inc currently standing at about $13.74 billion, investors are eagerly awaiting this quarter’s results, scheduled for in February.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that SMMT’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the price of SMMT currently trading nearly 2.21% and -2.60% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 50.66, while the 7-day volatility ratio is showing 5.30% which for the 30-day chart, stands at 6.27%. Furthermore, Summit Therapeutics Inc (SMMT)’s beta value is -0.87, and its average true range (ATR) is 1.15.
A comparison of Summit Therapeutics Inc (SMMT) with its peers suggests the former has fared considerably weaker in the market. SMMT showed an intraday change of 4.47% in today’s session so far, and over the past year, it grew by 606.19%%.
Data on historical trading for Summit Therapeutics Inc (NASDAQ:SMMT) indicates that the trading volumes over the past 10 days have averaged 2.37 and over the past 3 months, they’ve averaged 2.36 million. According to company’s latest data on outstanding shares, there are 737.09 million shares outstanding.
Nearly 84.45% of Summit Therapeutics Inc’s shares belong to company insiders and institutional investors own 11.49% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 17.53 million shares as on 2024-12-13, resulting in a short ratio of 9.54. According to the data, the short interest in Summit Therapeutics Inc (SMMT) stood at 1475.00 of shares outstanding as of 2024-12-13; the number of short shares registered in 2024-11-15 reached 15.99 million. The stock has risen by 4.47% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SMMT stock heading into the next quarter.
