Summit Therapeutics (NASDAQ:SMMT) Earns Neutral Rating from HC Wainwright

Summit Therapeutics (NASDAQ:SMMT)‘s stock had its “neutral” rating reiterated by equities research analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports.

SMMT has been the subject of several other reports. KeyCorp reaffirmed an “overweight” rating on shares of Summit Therapeutics in a report on Monday, June 1st. Citigroup began coverage on Summit Therapeutics in a research report on Wednesday, April 8th. They issued a “buy” rating on the stock. Truist Financial upgraded shares of Summit Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Summit Therapeutics in a research report on Friday, May 22nd. Finally, Stifel Nicolaus began coverage on Summit Therapeutics in a report on Wednesday, April 8th. They set a “buy” rating and a $45.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Summit Therapeutics currently has an average rating of “Hold” and an average target price of $26.15.

Summit Therapeutics Stock Down 8.8%

Shares of Summit Therapeutics stock opened at $13.66 on Thursday. Summit Therapeutics has a twelve month low of $12.55 and a twelve month high of $30.98. The company has a 50-day simple moving average of $15.03 and a two-hundred day simple moving average of $16.68. The stock has a market capitalization of $10.60 billion, a price-to-earnings ratio of -12.20 and a beta of -1.26.

Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings results on Thursday, July 23rd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). On average, sell-side analysts anticipate that Summit Therapeutics will post -1.18 earnings per share for the current fiscal year.

Insider Activity

In other Summit Therapeutics news, CFO Manmeet Singh Soni bought 50,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was purchased at an average cost of $14.45 per share, with a total value of $722,500.00. Following the transaction, the chief financial officer directly owned 3,123,603 shares in the company, valued at $45,136,063.35. This trade represents a 1.63% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert W. Duggan bought 3,810,000 shares of the stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $13.12 per share, for a total transaction of $49,987,200.00. Following the completion of the purchase, the chief executive officer directly owned 573,883,879 shares in the company, valued at approximately $7,529,356,492.48. This trade represents a 0.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 7,870,000 shares of company stock valued at $103,616,900 over the last three months. Corporate insiders own 83.50% of the company’s stock.

Institutional Investors Weigh In On Summit Therapeutics

Hedge funds have recently modified their holdings of the stock. Ball & Co Wealth Management Inc. bought a new stake in Summit Therapeutics in the 1st quarter valued at about $28,000. Kestra Advisory Services LLC bought a new position in shares of Summit Therapeutics in the fourth quarter worth $28,000. Parallel Advisors LLC bought a new position in shares of Summit Therapeutics in the third quarter worth $39,000. T. Rowe Price Investment Management Inc. grew its holdings in Summit Therapeutics by 2,654.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,873 shares of the company’s stock valued at $33,000 after buying an additional 1,805 shares in the last quarter. Finally, Truvestments Capital LLC lifted its holdings in shares of Summit Therapeutics by 200.2% in the fourth quarter. Truvestments Capital LLC now owns 2,603 shares of the company’s stock worth $46,000 after buying an additional 1,736 shares in the last quarter. Institutional investors own 4.61% of the company’s stock.

Key Summit Therapeutics News

Here are the key news stories impacting Summit Therapeutics this week:

• Positive Sentiment: Summit reported updated Phase III survival data for its HARMONi lung cancer study and said its lead drug ivonescimab continues to advance, including new development collaborations that broaden its pipeline optionality. Article Title
• Positive Sentiment: Unusually heavy options activity, with call volume far above normal, suggests traders are positioning for a possible rebound or additional catalyst-driven upside.
• Neutral Sentiment: The company’s Q2 earnings call and presentation focused on clinical and operational progress, keeping attention on future data readouts rather than near-term revenue generation. Article Title
• Neutral Sentiment: HC Wainwright reaffirmed a neutral rating, reinforcing that analysts remain cautious while waiting for clearer evidence that ivonescimab can deliver commercially meaningful results. Article Title
• Negative Sentiment: Summit posted a wider-than-expected Q2 loss with no revenue, highlighting continued cash burn and reliance on future clinical success to justify its valuation. Article Title
• Negative Sentiment: An article noted that analyst expectations were being tempered after the initial lung cancer survival data, which may be pressuring sentiment and contributing to the stock’s recent weakness. Article Title

Summit Therapeutics Company Profile

Summit Therapeutics plc is a clinical‐stage biotechnology company dedicated to the discovery and development of precision medicines for serious and life‐threatening diseases. The company applies a targeted approach to drug design, focusing on novel mechanisms of action that differentiate its candidates from existing therapies.

Summit’s lead asset, ridinilazole (formerly SMT19969), is being developed to treat Clostridioides difficile infections and has received both Fast Track and Qualified Infectious Disease Product designations from the U.S.