Summit Therapeutics Inc. (NASDAQ:SMMT – Get Rating) was the recipient of some unusual options trading on Wednesday. Investors purchased 4,175 call options on the company. This is an increase of 834% compared to the typical daily volume of 447 call options.
Wall Street Analyst Weigh In
Separately, StockNews.com initiated coverage on Summit Therapeutics in a research report on Sunday, September 18th. They set a “sell” rating for the company.
Summit Therapeutics Stock Performance
NASDAQ SMMT opened at $1.20 on Friday. The stock has a market capitalization of $117.75 million, a PE ratio of -1.43 and a beta of 0.96. The business has a 50 day simple moving average of $1.15 and a two-hundred day simple moving average of $1.50. The company has a debt-to-equity ratio of 0.49, a current ratio of 5.23 and a quick ratio of 5.23. Summit Therapeutics has a 1-year low of $0.88 and a 1-year high of $6.26.
In other news, CEO Robert W. Duggan bought 94,849,203 shares of the stock in a transaction on Tuesday, August 16th. The shares were bought at an average price of $0.97 per share, with a total value of $92,003,726.91. Following the completion of the acquisition, the chief executive officer now owns 162,532,792 shares in the company, valued at $157,656,808.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 80.01% of the company’s stock.
Hedge Funds Weigh In On Summit Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Polar Capital Holdings Plc raised its position in Summit Therapeutics by 2.5% during the 1st quarter. Polar Capital Holdings Plc now owns 6,272,509 shares of the company’s stock valued at $15,368,000 after purchasing an additional 154,598 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Summit Therapeutics in the 2nd quarter valued at $457,000. Renaissance Technologies LLC purchased a new position in Summit Therapeutics during the 2nd quarter worth $49,000. Hoylecohen LLC grew its stake in Summit Therapeutics by 97.2% during the 2nd quarter. Hoylecohen LLC now owns 30,432 shares of the company’s stock worth $30,000 after buying an additional 15,000 shares during the last quarter. Finally, Vance Wealth Inc. purchased a new position in Summit Therapeutics during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 8.34% of the company’s stock.
About Summit Therapeutics
Summit Therapeutics Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat infectious diseases in the United States and Latin America. It conducts clinical programs focusing on Clostridioides difficile infection (CDI). The company's lead product candidate is ridinilazole, an orally administered small molecule antibiotic that is in Phase III clinical trials for the treatment of CDI.
- Get a free copy of the StockNews.com research report on Summit Therapeutics (SMMT)
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