Summit Therapeutics (SMMT) is up 3.9% today. Here is some analysis on what might have caused this price movement.
Analysis: The most likely driver is continued positive sentiment after the closing of AstraZeneca’s $2.0 billion strategic equity investment in Summit on October 5, 2026. The move also appears supported by optimism that the new capital and related collaboration agreements could speed development of ivonescimab, although there does not appear to be a separate major company-specific announcement tied only to today’s trading.
Details:
Sources:
Summit Therapeutics press release, SEC filing, AstraZeneca press release
Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.
$SMMT Insider Trading Activity
$SMMT insiders have traded $SMMT stock on the open market 6 times in the past 6 months. Of those trades, 6 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $SMMT stock by insiders over the last 6 months:
- ROBERT W DUGGAN (Co-Chief Executive Officer) has made 2 purchases buying 3,910,000 shares for an estimated $51,447,200 and 0 sales.
- MAHKAM ZANGANEH (Co-Chief Executive Officer) has made 2 purchases buying 3,910,000 shares for an estimated $51,447,200 and 0 sales.
- MANMEET SINGH SONI (COO and CFO) has made 2 purchases buying 50,000 shares for an estimated $722,250 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$SMMT Hedge Fund Activity
We have seen 154 institutional investors add shares of $SMMT stock to their portfolio, and 87 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PRICE T ROWE ASSOCIATES INC /MD/ removed 4,384,039 shares (-53.0%) from their portfolio in Q2 2026, for an estimated $63,875,448
- GOLDMAN SACHS GROUP INC added 4,202,671 shares (+1352.5%) to their portfolio in Q2 2026, for an estimated $61,232,916
- BAKER BROS. ADVISORS LP removed 3,604,715 shares (-9.9%) from their portfolio in Q2 2026, for an estimated $52,520,697
- POINT72 ASSET MANAGEMENT, L.P. added 2,913,617 shares (+371.5%) to their portfolio in Q2 2026, for an estimated $42,451,399
- MILLENNIUM MANAGEMENT LLC added 2,222,808 shares (+1760.3%) to their portfolio in Q2 2026, for an estimated $32,386,312
- ADAGE CAPITAL PARTNERS GP, L.L.C. added 1,989,591 shares (+inf%) to their portfolio in Q2 2026, for an estimated $28,988,340
- UBS GROUP AG added 1,553,483 shares (+42.2%) to their portfolio in Q2 2026, for an estimated $22,634,247
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
$SMMT Price Targets
Multiple analysts have issued price targets for $SMMT recently. We have seen 3 analysts offer price targets for $SMMT in the last 6 months, with a median target of $16.0.
Here are some recent targets:
- Jeffrey Walch from Bernstein set a target price of $7.7 on 05/22/2026
- Mitchell S. Kapoor from HC Wainwright & Co. set a target price of $23.0 on 05/04/2026
- Kelsey Goodwin from Piper Sandler set a target price of $16.0 on 05/01/2026
This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.
