Summit Therapeutics Inc’s recently made public that 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 $452.62 million.
Then, Zanganeh Mahkam bought 30,000 shares, generating $112,500 in total proceeds. Upon buying the shares at $3.75, the Chief Executive Officer now owns 30,000 shares.
Before that, Zanganeh Mahkam bought 26,000 shares. Summit Therapeutics Inc shares valued at $96,720 were divested by the Chief Executive Officer at a price of $3.72 per share. As a result of the transaction, Zanganeh Mahkam now holds 520,814 shares, worth roughly $9.46 million.
Wells Fargo initiated its Summit Therapeutics Inc [SMMT] rating to an Overweight in a research note published on December 11, 2024; the price target was $30. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in early December with a ‘”a Buy”‘ rating. JMP Securities began covering SMMT with “Mkt outperform” recommendation on November 04, 2024. Citigroup revised its rating on September 27, 2024. It rated SMMT as “a Neutral” which previously was an “a Buy”.
Price Performance Review of SMMT
On Tuesday, Summit Therapeutics Inc [NASDAQ:SMMT] saw its stock jump 3.95% to $18.16. Over the last five days, the stock has gained 1.51%. Summit Therapeutics Inc shares have risen nearly 1.77% since the year began. Nevertheless, the stocks have risen 612.16% over the past one year. While a 52-week high of $33.89 was reached on 01/02/25, a 52-week low of $2.10 was recorded on 01/07/25. SMA at 50 days reached $19.01, while 200 days put it at $12.83.
Levels Of Support And Resistance For SMMT Stock
The 24-hour chart illustrates a support level at 17.62, which if violated will result in even more drops to 17.08. On the upside, there is a resistance level at 18.45. A further resistance level may holdings at 18.75. The Relative Strength Index (RSI) on the 14-day chart is 48.36, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 51.10%. Stochastics %K at 41.42% indicates the stock is a holding.
How much short interest is there in Summit Therapeutics Inc?
A steep rise in short interest was recorded in Summit Therapeutics Inc stocks on 2024-12-13, growing by 1.54 million shares to a total of 17.53 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 15.99 million shares. There was a rise of 8.8%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on August 12, 2024 when H.C. Wainwright began covering the stock and recommended ‘”a Buy”‘ rating along with a $16 price target.
