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

Summit Therapeutics PLC (NASDAQ:SMMT) was the recipient of some unusual options trading on Tuesday. Investors purchased 8,383 put options on the company. This represents an increase of approximately 144% compared to the average daily volume of 3,437 put options.

Analyst Ratings Changes

Several analysts have commented on SMMT shares. Zacks Research lowered shares of Summit Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 4th. Wolfe Research assumed coverage on Summit Therapeutics in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. HC Wainwright dropped their price target on Summit Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday. Piper Sandler set a $40.00 price objective on Summit Therapeutics in a report on Wednesday, January 14th. Finally, Citigroup reaffirmed a “buy” rating on shares of Summit Therapeutics in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Summit Therapeutics Stock Performance

SMMT stock traded up $0.09 during trading on Tuesday, hitting $16.18. 1,101,428 shares of the company traded hands, compared to its average volume of 2,826,209. The company has a 50-day moving average of $16.61 and a 200-day moving average of $19.19. Summit Therapeutics has a 1 year low of $13.83 and a 1 year high of $36.91. The firm has a market capitalization of $12.47 billion, a PE ratio of -13.00 and a beta of -1.44.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.07). Sell-side analysts expect that Summit Therapeutics will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Summit Therapeutics

Several large investors have recently made changes to their positions in the company. Baker BROS. Advisors LP grew its position in 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 acquiring an additional 2,668,089 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Summit Therapeutics by 31.2% in the 3rd quarter. Vanguard Group Inc. now owns 11,379,728 shares of the company’s stock valued at $235,105,000 after buying an additional 2,706,056 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Summit Therapeutics by 106.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,371,415 shares of the company’s stock worth $163,907,000 after acquiring an additional 4,832,592 shares in the last quarter. State Street Corp lifted its position in Summit Therapeutics by 4.3% in the fourth quarter. State Street Corp now owns 6,636,361 shares of the company’s stock valued at $116,070,000 after acquiring an additional 274,425 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Summit Therapeutics by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,147,480 shares of the company’s stock worth $55,063,000 after purchasing an additional 14,745 shares during the last quarter. 4.61% of the stock is currently owned by institutional investors and hedge funds.

More Summit Therapeutics News

Here are the key news stories impacting Summit Therapeutics this week:

• Positive Sentiment: Company highlights operational and clinical progress for ivonescimab (SMT112), an investigational bispecific antibody — this pipeline update supports longer‑term upside if clinical data continues to progress. Business Wire: Financial Results and Operational Progress
• Neutral Sentiment: HC Wainwright lowered its price target from $40 to $30 but maintained a Buy rating — this reduces the analyst-implied upside yet leaves institutional support intact. The Fly: Price Target Lowered
• Neutral Sentiment: Q4 2025 earnings call transcript and slide materials are available — useful for investors who want detail behind guidance, cash runway and clinical timelines before trading decisions. Seeking Alpha: Q4 2025 Earnings Call Transcript
• Negative Sentiment: Summit reported Q4 EPS of ($0.29), missing the consensus ($0.22) — an earnings miss that pressured near‑term sentiment and raises questions on near-term execution and cash flow. Investing.com: Falls on earnings miss
• Negative Sentiment: Unusually high put-option buying (≈8,383 puts, ~144% above typical volume) signals elevated short-term bearish bets or hedging activity, which can increase volatility and downside pressure if sentiment turns negative.

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.