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 $586.21 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 $12.25 million.
Truist initiated its Summit Therapeutics Inc [SMMT] rating to a Buy in a research note published on January 08, 2025; the price target was $35. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in mid December with a ‘”an Overweight”‘ rating. Jefferies began covering SMMT with “Buy” recommendation on December 06, 2024. JMP Securities started covering the stock on November 04, 2024. It rated SMMT as “a Mkt outperform”.
Price Performance Review of SMMT
On Monday, Summit Therapeutics Inc [NASDAQ:SMMT] saw its stock fall -1.01% to $23.52. Over the last five days, the stock has gained 23.59%. Summit Therapeutics Inc shares have risen nearly 31.80% since the year began. Nevertheless, the stocks have risen 430.93% over the past one year. While a 52-week high of $33.89 was reached on 01/24/25, a 52-week low of $2.10 was recorded on 01/14/25. SMA at 50 days reached $18.96, while 200 days put it at $13.83.
Levels Of Support And Resistance For SMMT Stock
The 24-hour chart illustrates a support level at 22.71, which if violated will result in even more drops to 21.89. On the upside, there is a resistance level at 23.95. A further resistance level may holdings at 24.37. The Relative Strength Index (RSI) on the 14-day chart is 66.05, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.97, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 17.33%. Stochastics %K at 88.02% indicates the stock is a selling.
How much short interest is there in Summit Therapeutics Inc?
A steep rise in short interest was recorded in Summit Therapeutics Inc stocks on 2024-12-31, growing by 3.1 million shares to a total of 19.94 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-29 was 16.84 million shares. There was a rise of 15.54%, which implies that there is a positive sentiment for the stock.
