Summit Therapeutics Inc. (NASDAQ:SMMT – Get Free Report) was the target of some unusual options trading on Monday. Stock investors acquired 11,544 call options on the company. This is an increase of 99% compared to the typical volume of 5,797 call options.
Summit Therapeutics Stock Down 12.0 %
Shares of SMMT traded down $2.93 during mid-day trading on Monday, reaching $21.46. The company had a trading volume of 4,803,014 shares, compared to its average volume of 3,677,515. Summit Therapeutics has a 52-week low of $1.64 and a 52-week high of $33.89. The stock has a 50 day moving average of $14.06 and a two-hundred day moving average of $8.46. The stock has a market capitalization of $15.06 billion, a P/E ratio of -141.94 and a beta of -0.99.
Summit Therapeutics (NASDAQ:SMMT – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. On average, sell-side analysts expect that Summit Therapeutics will post -0.27 earnings per share for the current year.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on SMMT
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Hoylecohen LLC grew its holdings in Summit Therapeutics by 2.4% in the 2nd quarter. Hoylecohen LLC now owns 86,408 shares of the company’s stock valued at $674,000 after buying an additional 2,000 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Summit Therapeutics by 142.2% in the first quarter. Russell Investments Group Ltd. now owns 6,096 shares of the company’s stock valued at $25,000 after acquiring an additional 3,579 shares during the last quarter. Virtu Financial LLC lifted its stake in Summit Therapeutics by 23.3% during the first quarter. Virtu Financial LLC now owns 20,372 shares of the company’s stock worth $84,000 after purchasing an additional 3,846 shares in the last quarter. Alpine Global Management LLC lifted its stake in Summit Therapeutics by 16.7% during the first quarter. Alpine Global Management LLC now owns 35,000 shares of the company’s stock worth $145,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Summit Therapeutics by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,145 shares of the company’s stock worth $138,000 after purchasing an additional 5,139 shares in the last quarter. 4.61% of the stock is owned by institutional investors and hedge funds.
Summit Therapeutics Company Profile
Summit Therapeutics Inc, a biopharmaceutical company, focuses on discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies in the United States, and the United Kingdom. The company's lead development candidate is Ivonescimab, a bispecific antibody for immunotherapy through blockade of PD-1 with the anti-angiogenesis; and anti-infectives portfolio includes SMT-738, a novel class of precision antibiotics for the treatment of multidrug resistant infections, which primarily includes carbapenem-resistant Enterobacteriaceae infections.
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