New insider activity at Summit Therapeutics ( (SMMT) ) has taken place on April 10, 2025.
In a significant move, Co-CEOs Robert Duggan and Maky Zanganeh have each purchased 3,985,055 shares of Summit Therapeutics stock. These transactions are valued at $6,296,386 each, highlighting their strong confidence in the company’s future prospects.
Recent Updates on SMMT stock
In the last 24 hours, Summit Therapeutics has seen significant developments influencing its stock outlook. Citi analyst Yigal Nochomovitz upgraded the stock to a Buy rating, citing a strong conviction in the favorable outcomes of the HARMONi-2 trial, which could establish ivonescimab as a groundbreaking therapy in non-small cell lung cancer. Cantor Fitzgerald also initiated coverage with an Overweight rating, highlighting the undervaluation of shares and the potential for ivonescimab to outperform existing PD-(L)1 class drugs. Evercore ISI initiated coverage with an Outperform rating, emphasizing ivonescimab’s potential to surpass Keytruda, the leading cancer drug, based on promising trial data. These positive assessments are driven by the promising efficacy of ivonescimab, which is seen as a pivotal factor in the stock’s potential growth.
Spark’s Take on SMMT Stock
According to Spark, TipRanks’ AI Analyst, SMMT is a Neutral.
Summit Therapeutics’ overall score is influenced by significant financial challenges, with no revenue and ongoing losses. Despite positive strides in collaborations and clinical trials, the company’s current valuation and technical indicators suggest caution. The lack of profitability and reliance on external partnerships pose risks, although a strong cash position provides some stability for future endeavors.
To see Spark’s full report on SMMT stock, click here.
More about Summit Therapeutics
YTD Price Performance: -9.32%
Average Trading Volume: 2,569,892
Technical Sentiment Signal: Sell
Current Market Cap: $12.78B