Summit Therapeutics’ (SMMT) “Neutral” Rating Reiterated at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Summit Therapeutics (NASDAQ:SMMT) in a report published on Thursday morning,Benzinga reports.

SMMT has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Summit Therapeutics in a report on Friday, July 17th. Wall Street Zen downgraded shares of Summit Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Citigroup started coverage on shares of Summit Therapeutics in a research report on Wednesday, April 8th. They issued a “buy” rating for the company. Stifel Nicolaus started coverage on Summit Therapeutics in a research note on Wednesday, April 8th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Sanford C. Bernstein initiated coverage on Summit Therapeutics in a research report on Thursday, May 21st. They set an “underperform” rating and a $7.70 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.15.

Summit Therapeutics Trading Down 8.8%

SMMT stock opened at $13.66 on Thursday. The company’s 50 day moving average is $15.03 and its 200 day moving average is $16.68. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of -12.20 and a beta of -1.26. Summit Therapeutics has a 1-year low of $12.55 and a 1-year high of $30.98.

Summit Therapeutics (NASDAQ:SMMT) last announced its earnings results on Thursday, July 23rd. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). As a group, sell-side analysts forecast that Summit Therapeutics will post -1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Summit Therapeutics news, CFO Manmeet Singh Soni acquired 50,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $14.45 per share, with a total value of $722,500.00. Following the purchase, the chief financial officer owned 3,123,603 shares of the company’s stock, valued at approximately $45,136,063.35. This trade represents a 1.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mahkam Zanganeh bought 3,810,000 shares of Summit Therapeutics stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost of $13.12 per share, for a total transaction of $49,987,200.00. Following the acquisition, the chief executive officer owned 573,883,879 shares in the company, valued at $7,529,356,492.48. The trade was a 0.67% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 7,870,000 shares of company stock valued at $103,616,900. 83.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Summit Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Ball & Co Wealth Management Inc. purchased a new stake in Summit Therapeutics during the first quarter valued at about $28,000. Kestra Advisory Services LLC purchased a new position in shares of Summit Therapeutics in the fourth quarter worth about $28,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Summit Therapeutics by 2,654.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,873 shares of the company’s stock worth $33,000 after buying an additional 1,805 shares during the period. Parallel Advisors LLC purchased a new position in shares of Summit Therapeutics in the third quarter worth about $39,000. Finally, Truvestments Capital LLC lifted its stake in shares of Summit Therapeutics by 200.2% in the 4th quarter. Truvestments Capital LLC now owns 2,603 shares of the company’s stock valued at $46,000 after acquiring an additional 1,736 shares during the last quarter. 4.61% of the stock is owned by institutional investors.

Summit Therapeutics News Roundup

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.