Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Summit Therapeutics Inc shares valued at $201,874 were purchased by Zanganeh Mahkam on Mar 27 ’24. At $3.72 per share, Zanganeh Mahkam acquired 54,321 shares. The insider’s holdings grew to 24,923,800 shares worth approximately $445.39 million following the completion of this transaction.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Also, Zanganeh Mahkam purchased 30,000 shares, netting a total of over 112,500 in proceeds. Following the buying of shares at $3.75 each, the insider now holds 30,000 shares.
Before that, Zanganeh Mahkam had added 26,000 shares to its account. In a trade valued at $96,720, the Chief Executive Officer bought Summit Therapeutics Inc shares for $3.72 each. Upon closing the transaction, the insider’s holdings increased to 26,000 shares, worth approximately $9.31 million.
As published in their initiating research note from Wells Fargo on December 11, 2024, Summit Therapeutics Inc [SMMT] has been an Overweight and the price target has been revised to $30. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. As of November 04, 2024, JMP Securities has initiated its “Mkt outperform” rating for SMMT. Earlier on September 27, 2024, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for SMMT stock which previously was a “a Buy”.
Analyzing SMMT Stock Performance
During the last five days, there has been a surge of approximately 2.00%. Over the course of the year, Summit Therapeutics Inc shares have jumped approximately 584.67%. Shares of the company reached a 52-week high of $33.89 on 09/16/24 and a 52-week low of $2.10 on 05/28/24. A 50-day SMA is recorded $19.64, while a 200-day SMA reached $11.73. Nevertheless, trading volume fell to 1.62 million shares from 2.29 million shares the previous day.
Support And Resistance Levels for Summit Therapeutics Inc (SMMT)
According to the 24-hour chart, there is a support level at 17.47, which, if violated, would cause prices to drop to 17.07. In the upper region, resistance lies at 18.64. The next price resistance is at 19.41. RSI (Relative Strength Index) is 43.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.22, which suggests the price will decrease in the coming days. Percent R is at 55.30%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of Summit Therapeutics Inc (SMMT)?
On August 12, 2024, H.C. Wainwright assigned a price target of “a Buy” to the stock and initiated coverage with a $16.
