Summit Therapeutics (SMMT) Scheduled to Post Quarterly Earnings on Wednesday

Summit Therapeutics (NASDAQ:SMMT) is scheduled to post its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect Summit Therapeutics to post earnings of ($0.06) per share for the quarter.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.05) earnings per share for the quarter. The company had revenue of $0.20 million for the quarter. On average, analysts expect Summit Therapeutics to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Summit Therapeutics Stock Down 2.5 %

Shares of Summit Therapeutics stock traded down $0.09 on Thursday, reaching $3.50. The stock had a trading volume of 336,494 shares, compared to its average volume of 2,170,878. The company has a quick ratio of 9.30, a current ratio of 9.30 and a debt-to-equity ratio of 1.29. Summit Therapeutics has a 1 year low of $1.30 and a 1 year high of $5.22. The company has a 50 day moving average price of $4.10 and a 200 day moving average price of $3.15. The stock has a market capitalization of $2.46 billion, a P/E ratio of -2.30 and a beta of -1.21.

Insider Buying and Selling at Summit Therapeutics

In other Summit Therapeutics news, CFO Ankur Dhingra bought 100,000 shares of Summit Therapeutics stock in a transaction on Tuesday, March 26th. The stock was bought at an average price of $3.75 per share, with a total value of $375,000.00. Following the completion of the acquisition, the chief financial officer now owns 354,958 shares in the company, valued at $1,331,092.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Ankur Dhingra bought 100,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average price of $3.75 per share, for a total transaction of $375,000.00. Following the acquisition, the chief financial officer now owns 354,958 shares of the company’s stock, valued at $1,331,092.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mahkam Zanganeh purchased 30,000 shares of Summit Therapeutics stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average cost of $3.75 per share, for a total transaction of $112,500.00. Following the completion of the transaction, the chief executive officer now directly owns 30,000 shares in the company, valued at approximately $112,500. The disclosure for this purchase can be found here. 83.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Stifel Nicolaus assumed coverage on shares of Summit Therapeutics in a research note on Tuesday, March 26th. They set a “buy” rating and a $8.00 target price for the company.

About Summit Therapeutics

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.