Summit Therapeutics (NASDAQ:SMMT) Stock Price Up 3.6% – What’s Next?

Posted by George Bondi on Oct 9th, 2026

Summit Therapeutics PLC (NASDAQ:SMMT – Get Free Report)’s stock price shot up 3.6% during trading on Wednesday. The stock traded as high as $17.60 and last traded at $17.9250. 1,533,130 shares changed hands during trading, a decline of 66% from the average session volume of 4,563,879 shares. The stock had previously closed at $17.31.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Stifel Nicolaus cut their target price on Summit Therapeutics from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Summit Therapeutics in a research report on Monday. Jefferies Financial Group reissued a “buy” rating and set a $30.00 target price on shares of Summit Therapeutics in a research note on Tuesday, September 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Summit Therapeutics in a report on Tuesday, September 22nd. Finally, Morgan Stanley lowered Summit Therapeutics to an “outperform” rating in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Summit Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $28.61.

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Summit Therapeutics Stock Performance

The stock has a 50-day moving average of $15.46 and a two-hundred day moving average of $16.40. The company has a market cap of $13.73 billion, a P/E ratio of -15.33 and a beta of -1.51.

Summit Therapeutics (NASDAQ:SMMT – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Research analysts predict that Summit Therapeutics PLC will post -1.2 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SMMT. Baker BROS. Advisors LP grew its stake in shares of Summit Therapeutics by 7.9% during 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 period. BlackRock Inc. purchased a new position in shares of Summit Therapeutics in the second quarter worth approximately $138,838,000. Polymer Capital Management HK LTD grew its position in 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 valued at $24,856,000 after buying an additional 603,879 shares during the period. Bank of America Corp DE purchased a new stake in Summit Therapeutics during the second quarter valued at approximately $12,603,000. Finally, The Manufacturers Life Insurance Company raised its position in Summit Therapeutics by 34.4% in the first quarter. The Manufacturers Life Insurance Company now owns 592,810 shares of the company’s stock worth $11,240,000 after acquiring an additional 151,857 shares during the period. Institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Company Profile

(Get Free Report)

Summit Therapeutics plc is a clinical-stage biopharmaceutical company focused on developing innovative cancer treatments. The company’s lead program is ivonescimab, an investigational bispecific antibody designed to combine immune checkpoint inhibition targeting PD-1 with anti-angiogenic activity targeting VEGF. Summit is evaluating ivonescimab in clinical studies for multiple solid tumors, including non-small cell lung cancer.

Summit obtained exclusive rights from Akeso, Inc to develop and commercialize ivonescimab in markets outside China, including the United States and other international territories.