Cantor Fitzgerald views Bob Duggan’s, Summit Therapeutics (SMMT) co-CEO and Chairman, stock option exercise “quite unusual” and “quite bullish” for the shares. Duggan’ exercised warrants to purchase 4M shares of Summit at $1.58 approximately four years before their expiration, the analyst tells investors in a research note. Cantor has an Overweight rating on Summit Therapeutics. The stock in midday trading is up 9%, or $1.66, to $19.89.
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