In a filing, Summit Therapeutics Inc revealed its Chief Executive Officer Zanganeh Mahkam acquired Company’s shares for reported $0.2 million on Mar 27 ’24. In the deal valued at $3.72 per share,54,321 shares were bought. As a result of this transaction, Zanganeh Mahkam now holds 24,923,800 shares worth roughly $91.22 million.
Then, Zanganeh Mahkam bought 26,000 shares, generating $96,720 in total proceeds. Upon buying the shares at $3.72, the Chief Executive Officer now owns 520,814 shares.
Before that, Dhingra Ankur bought 100,000 shares. Summit Therapeutics Inc shares valued at $375,000 were divested by the Chief Financial Officer at a price of $3.75 per share. As a result of the transaction, Dhingra Ankur now holds 354,958 shares, worth roughly $1.3 million.
Stifel initiated its Summit Therapeutics Inc [SMMT] rating to a Buy in a research note published on March 26, 2024; the price target was $8. A number of analysts have revised their coverage, including Janney’s analysts, who decreased its forecast for the stock in late June from “a Buy” to “a Neutral”. Janney began covering SMMT with “Buy” recommendation on May 02, 2018. Needham maintained its rating on April 12, 2018. It rated SMMT as “a Buy”.
Price Performance Review of SMMT
On Friday, Summit Therapeutics Inc [NASDAQ:SMMT] saw its stock fall -9.06% to $3.66. Over the last five days, the stock has lost -5.54%. Summit Therapeutics Inc shares have risen nearly 40.42% since the year began. Nevertheless, the stocks have risen 136.45% over the past one year. While a 52-week high of $5.22 was reached on 03/05/24, a 52-week low of $1.30 was recorded on 01/02/24. SMA at 50 days reached $4.20, while 200 days put it at $2.69. A total of 1.31 million shares were traded, compared to the trading of 1.33 million shares in the previous session.
Levels Of Support And Resistance For SMMT Stock
The 24-hour chart illustrates a support level at 3.50, which if violated will result in even more drops to 3.35. On the upside, there is a resistance level at 3.94. A further resistance level may holdings at 4.22. The Relative Strength Index (RSI) on the 14-day chart is 44.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 70.91%. Stochastics %K at 46.39% indicates the stock is a holding.
The most recent change occurred on February 13, 2018 when BTIG Research began covering the stock and recommended ‘”a Buy”‘ rating along with a $33 price target.
