Summit Therapeutics Inc. (NASDAQ:SMMT) CEO Mahkam Zanganeh Buys 30,000 Shares of Stock

Summit Therapeutics Inc. (NASDAQ:SMMT) CEO Mahkam Zanganeh bought 30,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was purchased at an average cost of $3.75 per share, with a total value of $112,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at approximately $112,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Summit Therapeutics Stock Up 0.3 %

SMMT opened at $3.75 on Thursday. The company has a quick ratio of 9.30, a current ratio of 9.30 and a debt-to-equity ratio of 1.29. The firm has a 50 day moving average price of $4.21 and a 200-day moving average price of $2.87. Summit Therapeutics Inc. has a twelve month low of $1.30 and a twelve month high of $5.22. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -2.45 and a beta of -1.21.

Summit Therapeutics (NASDAQ:SMMT) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $0.20 million for the quarter.

Analyst Ratings Changes

Separately, Stifel Nicolaus assumed coverage on shares of Summit Therapeutics in a report on Tuesday. They issued a “buy” rating and a $8.00 target price for the company.

Institutional Trading of Summit Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Summit Therapeutics by 374.9% during the second quarter. BlackRock Inc. now owns 8,762,841 shares of the company’s stock valued at $21,995,000 after buying an additional 6,917,788 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Summit Therapeutics by 15.1% in the fourth quarter. Vanguard Group Inc. now owns 7,014,982 shares of the company’s stock worth $18,309,000 after purchasing an additional 919,307 shares during the period. Polar Capital Holdings Plc boosted its position in shares of Summit Therapeutics by 2.5% in the first quarter. Polar Capital Holdings Plc now owns 6,272,509 shares of the company’s stock worth $15,368,000 after purchasing an additional 154,598 shares during the period. Geode Capital Management LLC boosted its position in shares of Summit Therapeutics by 146.0% in the second quarter. Geode Capital Management LLC now owns 2,679,309 shares of the company’s stock worth $6,725,000 after purchasing an additional 1,590,328 shares during the period. Finally, State Street Corp boosted its position in shares of Summit Therapeutics by 1,743.0% in the second quarter. State Street Corp now owns 2,253,975 shares of the company’s stock worth $5,657,000 after purchasing an additional 2,131,675 shares during the period. 4.61% of the stock is owned by hedge funds and other institutional investors.

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.