We recently published a list of Investors Are Dumping These 10 Stocks. In this article, we are going to take a look at where Summit Therapeutics Inc. (NASDAQ:SMMT) stands against other worst-performing stocks on Wednesday.
Summit Therapeutics dropped its share prices by 5.14 percent on Wednesday to finish at $19.56 apiece as investors booked early profits following the previous day’s gains.
Earlier this week, Zacks Equity Research issued a market report on Summit Therapeutics Inc.’s (NASDAQ:SMMT) stock, underscoring a selling pressure that has pushed the company into the oversold territory.
Zacks added that the stock could now be due for a turnaround.
A laboratory employee in a sterile environment inspecting a microscope focused on a Clostridioides difficile infection sample.
Summit Therapeutics Inc. (NASDAQ:SMMT) currently holds a “buy” recommendation from Zacks, which means that it is in the top 20 percent of more than 4,000 stocks ranked based on trends in earnings estimate revisions and EPS surprises.
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In recent news, Summit Therapeutics Inc. (NASDAQ:SMMT) announced late last week that it achieved its primary endpoint of progression-free survival for the evaluation of Ivonescimab combined with platinum-doublet chemotherapy.
However, investors hungry for more concrete developments appeared unimpressed, as evident in the disposal of its shares.
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Disclosure: None. This article is originally published at Insider Monkey.
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