Summit Therapeutics (NASDAQ:SMMT) Sets New 1-Year Low – What’s Next?

11 Jun 2026, 09:50 by Mitch Edgeman · The Markets Daily

Summit Therapeutics PLC (NASDAQ:SMMT – Get Free Report) reached a new 52-week low during trading on Tuesday . The company traded as low as $13.81 and last traded at $14.11, with a volume of 5489654 shares. The stock had previously closed at $14.77.

Wall Street Analysts Forecast Growth

SMMT has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Summit Therapeutics in a research note on Tuesday, April 21st. Piper Sandler lowered their target price on Summit Therapeutics from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Summit Therapeutics in a research note on Friday, May 22nd. Jefferies Financial Group cut Summit Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $42.00 to $15.00 in a research note on Monday, March 16th. Finally, HC Wainwright cut Summit Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Summit Therapeutics currently has an average rating of “Hold” and a consensus target price of $27.23.

View Our Latest Research Report on Summit Therapeutics

Summit Therapeutics Stock Performance

The stock has a 50 day moving average of $18.77 and a 200-day moving average of $17.40. The firm has a market capitalization of $10.13 billion, a P/E ratio of -8.16 and a beta of -1.32.

Summit Therapeutics (NASDAQ:SMMT – Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03. As a group, sell-side analysts expect that Summit Therapeutics PLC will post -1.18 EPS for the current year.

Insider Activity at Summit Therapeutics

In other news, CFO Manmeet Singh Soni acquired 50,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average cost of $14.45 per share, for a total transaction of $722,500.00. Following the purchase, the chief financial officer owned 3,123,603 shares of the company’s stock, valued at approximately $45,136,063.35. The trade was a 1.63% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mahkam Zanganeh acquired 100,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average price of $14.60 per share, for a total transaction of $1,460,000.00. Following the completion of the purchase, the chief executive officer directly owned 25,824,474 shares in the company, valued at $377,037,320.40. This trade represents a 0.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 250,000 shares of company stock worth $3,642,500. Company insiders own 83.50% of the company’s stock.

Institutional Investors Weigh In On Summit Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ball & Co Wealth Management Inc. bought a new stake in Summit Therapeutics in the 1st quarter valued at about $28,000. Kestra Advisory Services LLC bought a new stake in shares of Summit Therapeutics during the fourth quarter valued at about $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 valued at $33,000 after buying an additional 1,805 shares during the period. Parallel Advisors LLC bought a new stake in shares of Summit Therapeutics during the third quarter valued at about $39,000. Finally, Truvestments Capital LLC increased its position in shares of Summit Therapeutics by 200.2% during the fourth quarter. Truvestments Capital LLC now owns 2,603 shares of the company’s stock valued at $46,000 after buying an additional 1,736 shares during the period. 4.61% of the stock is currently owned by institutional investors.

About Summit Therapeutics

(Get Free Report)

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.