Summit Therapeutics (NASDAQ:SMMT) Trading Down 5.8% – Time to Sell?

Posted by Brenda Bartman on Sep 23rd, 2026

Summit Therapeutics PLC (NASDAQ:SMMT – Get Free Report) shares traded down 5.8% on Monday . The stock traded as low as $16.84 and last traded at $16.82. 1,773,826 shares changed hands during trading, a decline of 59% from the average session volume of 4,351,704 shares. The stock had previously closed at $17.85.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SMMT. Weiss Ratings reissued a “sell (d-)” rating on shares of Summit Therapeutics in a report on Friday, July 17th. UBS Group reiterated a “buy” rating and set a $33.00 price target on shares of Summit Therapeutics in a research report on Tuesday, September 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Summit Therapeutics in a research note on Tuesday. Leerink Partners raised shares of Summit Therapeutics from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $12.00 to $13.00 in a research note on Wednesday, August 12th. Finally, KeyCorp reiterated an “overweight” rating on shares of Summit Therapeutics in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Summit Therapeutics presently has a consensus rating of “Hold” and an average target price of $25.91.

View Our Latest Report on Summit Therapeutics

Summit Therapeutics Stock Up 1.3%

The stock has a 50-day simple moving average of $14.78 and a 200 day simple moving average of $16.31. The company has a market cap of $13.66 billion, a PE ratio of -15.29 and a beta of -1.24.

Summit Therapeutics (NASDAQ:SMMT – Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). As a group, research analysts anticipate that Summit Therapeutics PLC will post -1.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Summit Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Baker BROS. Advisors LP increased its position in shares of Summit Therapeutics by 7.9% in the 4th quarter. Baker BROS. Advisors LP now owns 36,391,063 shares of the company’s stock valued at $636,480,000 after purchasing an additional 2,668,089 shares during the last quarter. Polymer Capital Management HK LTD grew its stake in shares of Summit Therapeutics by 73.9% during the fourth quarter. Polymer Capital Management HK LTD now owns 1,421,155 shares of the company’s stock worth $24,856,000 after purchasing an additional 603,879 shares in the last quarter. TD Asset Management Inc increased its holdings in Summit Therapeutics by 124.2% in the fourth quarter. TD Asset Management Inc now owns 1,205,272 shares of the company’s stock valued at $21,080,000 after buying an additional 667,742 shares during the last quarter. BlackRock Inc. acquired a new stake in Summit Therapeutics in the second quarter valued at $138,838,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Summit Therapeutics in the first quarter valued at $2,269,000. 4.61% of the stock is owned by institutional investors and hedge funds.

About Summit Therapeutics

(Get Free Report)

Summit Therapeutics plc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for the treatment of cancer. The company’s lead program is ivonescimab, an investigational bispecific antibody designed to combine immune checkpoint inhibition against PD-1 with selective inhibition of vascular endothelial growth factor A (VEGF-A). Summit is evaluating ivonescimab in clinical studies involving patients with non-small cell lung cancer and other solid tumors.

Summit has entered into a licensing and collaboration agreement with Akeso, a biotechnology company that discovered and developed ivonescimab.