Summit Therapeutics (NASDAQ:SMMT) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Summit Therapeutics (NASDAQ:SMMT – Get Rating) from a sell rating to a hold rating in a research note released on Monday morning.

Summit Therapeutics Stock Performance

SMMT stock opened at $1.53 on Monday. The company has a debt-to-equity ratio of 3.90, a current ratio of 16.93 and a quick ratio of 16.93. The company’s 50-day moving average is $3.05 and its 200-day moving average is $2.17. Summit Therapeutics has a 1 year low of $0.66 and a 1 year high of $5.78.

Insider Buying and Selling at Summit Therapeutics

In other news, CFO Ankur Dhingra bought 196,362 shares of the stock in a transaction dated Tuesday, March 7th. The shares were bought at an average cost of $1.05 per share, with a total value of $206,180.10. Following the completion of the transaction, the chief financial officer now directly owns 234,558 shares of the company’s stock, valued at $246,285.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Mahkam Zanganeh purchased 15,973,743 shares of the business’s stock in a transaction on Wednesday, March 8th. The stock was acquired at an average price of $1.05 per share, for a total transaction of $16,772,430.15. Following the purchase, the chief executive officer now owns 23,395,269 shares of the company’s stock, valued at $24,565,032.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ankur Dhingra acquired 196,362 shares of the stock in a transaction dated Tuesday, March 7th. The stock was bought at an average cost of $1.05 per share, with a total value of $206,180.10. Following the completion of the purchase, the chief financial officer now owns 234,558 shares of the company’s stock, valued at $246,285.90. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 392,659,985 shares of company stock valued at $412,292,984. Company insiders own 87.50% of the company’s stock.

Institutional Investors Weigh In On Summit Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Advisor Group Holdings Inc. boosted its holdings in Summit Therapeutics by 14.4% during the 4th quarter. Advisor Group Holdings Inc. now owns 46,174 shares of the company’s stock worth $197,000 after acquiring an additional 5,800 shares during the last quarter. Bank of America Corp DE boosted its holdings in Summit Therapeutics by 431.6% during the fourth quarter. Bank of America Corp DE now owns 8,952 shares of the company’s stock worth $38,000 after purchasing an additional 7,268 shares during the last quarter. Man Group plc grew its position in Summit Therapeutics by 46.9% in the 4th quarter. Man Group plc now owns 23,092 shares of the company’s stock worth $98,000 after purchasing an additional 7,373 shares in the last quarter. Barclays PLC increased its stake in Summit Therapeutics by 563.4% in the 4th quarter. Barclays PLC now owns 13,859 shares of the company’s stock valued at $59,000 after buying an additional 11,770 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Summit Therapeutics during the 4th quarter worth approximately $53,000. Institutional investors own 1.59% of the company’s stock.

About Summit Therapeutics

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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.