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

Summit Therapeutics PLC (NASDAQ:SMMT) was the target of some unusual options trading activity on Friday. Investors purchased 20,849 call options on the company. This is an increase of 147% compared to the average volume of 8,434 call options.

Insider Activity

In related news, CFO Manmeet Singh Soni purchased 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average cost of $14.45 per share, with a total value of $722,500.00. Following the acquisition, the chief financial officer owned 3,123,603 shares of the company’s stock, valued at $45,136,063.35. This trade represents a 1.63% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mahkam Zanganeh bought 3,810,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $13.12 per share, for a total transaction of $49,987,200.00. Following the purchase, the chief executive officer owned 573,883,879 shares of the company’s stock, valued at approximately $7,529,356,492.48. The trade was a 0.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 7,870,000 shares of company stock worth $103,616,900. Insiders own 83.50% of the company’s stock.

Institutional Trading of Summit Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ball & Co Wealth Management Inc. acquired a new position in shares of Summit Therapeutics in the 1st quarter worth approximately $28,000. Kestra Advisory Services LLC acquired a new stake in shares of Summit Therapeutics during the fourth quarter worth $28,000. T. Rowe Price Investment Management Inc. increased its position in shares of Summit Therapeutics by 2,654.4% during 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 bought a new position in Summit Therapeutics during the third quarter worth $39,000. Finally, Truvestments Capital LLC raised its stake in Summit Therapeutics by 200.2% during 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 during the last quarter. Institutional investors and hedge funds own 4.61% of the company’s stock.

Summit Therapeutics Trading Down 8.7%

NASDAQ:SMMT 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 stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of -8.57 and a beta of -1.26. Summit Therapeutics has a one year low of $12.55 and a one year high of $30.98. The company has a fifty day simple moving average of $15.09 and a 200 day simple moving average of $16.70.

Summit Therapeutics (NASDAQ:SMMT) last released 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). Equities research analysts predict that Summit Therapeutics will post -1.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SMMT shares. HC Wainwright reissued a “neutral” rating on shares of Summit Therapeutics in a research note on Thursday. Citigroup initiated coverage on Summit Therapeutics in a research note on Wednesday, April 8th. They issued a “buy” rating for the company. KeyCorp reiterated an “overweight” rating on shares of Summit Therapeutics in a report on Monday, June 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Summit Therapeutics in a research report on Friday. Finally, Guggenheim reduced their target price on shares of Summit Therapeutics from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday. One equities research 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $26.15.

Trending Headlines about 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.