Traders Purchase High Volume of Call Options on Summit Therapeutics (NASDAQ:SMMT)

Summit Therapeutics PLC (NASDAQ:SMMT) saw some unusual options trading activity on Friday. Stock traders purchased 20,849 call options on the company. This represents an increase of 147% compared to the typical volume of 8,434 call options.

Insider Activity at Summit Therapeutics

In other Summit Therapeutics news, CFO Manmeet Singh Soni bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average price of $14.45 per share, for a total transaction of $722,500.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mahkam Zanganeh acquired 3,810,000 shares of Summit Therapeutics stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of $13.12 per share, with a total value of $49,987,200.00. Following the completion of the transaction, the chief executive officer directly owned 573,883,879 shares of the company’s stock, valued at $7,529,356,492.48. This trade represents a 0.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 7,870,000 shares of company stock worth $103,616,900 in the last 90 days. 83.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Summit Therapeutics

Several large investors have recently made changes to their positions in SMMT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Summit Therapeutics by 1.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,411 shares of the company’s stock valued at $1,273,000 after purchasing an additional 694 shares during the last quarter. Fifth Third Bancorp boosted its stake in Summit Therapeutics by 24.4% in the 1st quarter. Fifth Third Bancorp now owns 3,732 shares of the company’s stock valued at $71,000 after purchasing an additional 732 shares during the period. Sei Investments Co. boosted its position in shares of Summit Therapeutics by 3.3% in the third quarter. Sei Investments Co. now owns 27,163 shares of the company’s stock valued at $561,000 after acquiring an additional 860 shares during the period. Levin Capital Strategies L.P. boosted its holdings in Summit Therapeutics by 2.7% in the 4th quarter. Levin Capital Strategies L.P. now owns 37,676 shares of the company’s stock valued at $659,000 after purchasing an additional 1,000 shares during the period. Finally, State of Wisconsin Investment Board grew its position in Summit Therapeutics by 1.1% during the fourth quarter. State of Wisconsin Investment Board now owns 92,882 shares of the company’s stock worth $1,625,000 after buying an additional 1,047 shares in the last quarter. Institutional investors and hedge funds own 4.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on SMMT shares. KeyCorp reaffirmed an “overweight” rating on shares of Summit Therapeutics in a research report on Monday, June 1st. Guggenheim reduced their target price on Summit Therapeutics from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Summit Therapeutics in a report on Friday, July 17th. HC Wainwright reiterated a “neutral” rating on shares of Summit Therapeutics in a research report on Thursday. Finally, Sanford C. Bernstein assumed coverage on shares of Summit Therapeutics in a research note on Thursday, May 21st. They issued an “underperform” rating and a $7.70 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Summit Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $26.15.

Summit Therapeutics Trading Down 8.7%

Shares of SMMT stock traded down $1.30 during trading hours on Friday, hitting $13.68. 2,728,263 shares of the company were exchanged, compared to its average volume of 3,944,562. The business has a 50 day moving average of $15.09 and a two-hundred day moving average of $16.70. Summit Therapeutics has a 52 week low of $12.55 and a 52 week high of $30.98. The company has a market capitalization of $10.62 billion, a PE ratio of -8.57 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). On average, research analysts forecast that Summit Therapeutics will post -1.18 EPS for the current year.

Key Stories Impacting Summit Therapeutics

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

• Positive Sentiment: Summit said updated overall survival data from the Phase III HARMONi study in non-small cell lung cancer continued to strengthen ivonescimab’s profile, reinforcing the drug’s potential as a meaningful oncology asset. Summit Therapeutics (SMMT) Updates Phase III Survival Data, Is The Stock Still A Bargain?
• Positive Sentiment: Summit also announced a clinical trial collaboration with Arcus Biosciences to evaluate ivonescimab in kidney cancer, expanding the drug’s potential market and adding another late-stage development path. Arcus Biosciences and Summit Therapeutics Enter Into Clinical Trial Collaboration to Evaluate Casdatifan Combined with Ivonescimab in Kidney Cancer
• Positive Sentiment: Investors are also focusing on the FDA-accepted BLA for ivonescimab in EGFR-mutant NSCLC and the upcoming November PDUFA date, which keeps a major regulatory catalyst in view. Summit Therapeutics: ‘Buy’ On Ivonescimab’s November PDUFA And Impressive Partner Data
• Neutral Sentiment: Summit’s Q2 report showed a smaller-than-expected loss, with EPS of -$0.28 versus estimates of -$0.27, a modest miss that is less important than the company’s clinical progress. Summit Therapeutics Reports Financial Results and Operational Progress for the Second Quarter and Six Months Ended June 30, 2026
• Neutral Sentiment: HC Wainwright reaffirmed its neutral rating on SMMT, suggesting analysts remain cautious even as the stock reacts to pipeline news. Benzinga
• Negative Sentiment: The quarterly EPS result slightly missed expectations, which may temper enthusiasm around the stock despite the stronger drug-development headlines. Summit Therapeutics earnings report and conference call

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.