Summit Therapeutics Inc. (SMMT) Stock Price & Analysis
Summit Therapeutics Inc. (SMMT) closed at USD 15.55 on Thursday, October 22, 2026, down 1.77% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 15.83; the Oct 22, 2026 session ranged USD 15.13–15.7 on volume of 4,141,691 shares. Market capitalization is $12.41B, with a 52-week range of USD 12.07–29.23 (NGM). Source: Nexqual, retrieved October 23, 2026 at 10:37 UTC.
Also available as compact Markdown for AI agents: nexqual.com/SMMT.md
Key facts (SMMT)
- Insider open-market purchases, last ~7 months: 5 Form 4 filings, $104M; 2 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.29 on a 1–5 scale) (17 analysts), mean target USD 30.29 (range 12.04–43.74).
- Total return with dividends: 1Y -17.1% vs S&P 500 +14.9%; 5Y +212.3% vs S&P 500 +80.3%.
- Next earnings: 2026-10-27, EPS estimate USD -0.21, revenue estimate $54K.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (SMMT)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.8M | $705K | $0K | $0K | — | — |
| Operating income | -$86.2M | -$72.1M | -$610M | -$226M | — | — |
| Net income | -$88.6M | -$78.8M | -$615M | -$221M | -$1.08B | -$856M |
| EPS (diluted) | -$0.67 | -$0.41 | -$0.99 | -$0.31 | -$1.44 | — |
| Free cash flow | -$72.9M | -$42.2M | -$76.9M | -$142M | -$324M | -$460M |
| Operating margin | -4764.3% | -10225.4% | — | — | — | — |
| Net margin | -4897.8% | -11174.8% | — | — | — | — |
| Revenue growth | +110.3% | -61.0% | -100.0% | — | — | — |
| Cash + short-term investments | $71.8M | $349M | $186M | $412M | $713M | — |
| Total debt | — | $495M | $100M | $0K | — | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (SMMT)
P/B 19.7x · FCF yield -3.71% · Earnings yield -6.90%
Insider purchases (SEC Form 4, open-market, last ~7 months) (SMMT)
5 purchases, $104M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-12 | Zanganeh Mahkam | Co-Chief Executive Officer | 3,810,000 | $50.0M | 13.12 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-12 | Duggan Robert W | Co-Chief Executive Officer | 3,810,000 | $50.0M | 13.12 | Too little history (no open-market trades in 2024) |
| 2026-06-04 | Duggan Robert W | Co-Chief Executive Officer | 100,000 | $1.5M | 14.6 | Too little history (no open-market trades in 2024) |
| 2026-06-04 | Zanganeh Mahkam | Co-Chief Executive Officer | 100,000 | $1.5M | 14.6 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-04 | Soni Manmeet Singh | COO and CFO | 50,000 | $722K | 14.45 | Too little history (no open-market trades in 2024 or 2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (SMMT)
Consensus Buy (mean 2.29 on a 1–5 scale), 17 analysts; mean target USD 30.29 (low 12.04, high 43.74).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-01 | Barclays | Target raised | Equal-Weight | $18 → $20 |
| 2026-09-29 | Citigroup | Target raised | Buy | $40 → $43 |
| 2026-09-23 | HC Wainwright & Co. | Reiterated | Neutral | |
| 2026-09-09 | Jefferies | Upgrade | Hold → Buy | $15 → $25 |
| 2026-08-26 | HC Wainwright & Co. | Reiterated | Neutral | |
| 2026-08-25 | Bernstein | Upgrade | Underperform → Market Perform | $9.8 → $11.9 |
| 2026-08-18 | HC Wainwright & Co. | Reiterated | Neutral | |
| 2026-08-12 | Leerink Partners | Upgrade | Underperform → Market Perform | $12 → $13 |
| 2026-07-24 | Stifel | Target lowered | Buy | $45 → $38 |
| 2026-07-24 | Guggenheim | Target lowered | Buy | $40 → $38 |
| 2026-07-23 | HC Wainwright & Co. | Reiterated | Neutral |
Total return (dividends reinvested) (SMMT)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -17.1% | +212.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -17.1% | +25.5% |
| Volatility (annualized) | 71.9% | 127.3% |
| Max drawdown | -52.9% (Apr 2026→Aug 2026) | -86.2% (Nov 2021→Nov 2022) |
SMMT suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Akeso | “•We depend on our relationship with, and the intellectual property licensed from Akeso.” |
| Partner | Pfizer (PFE) | “These include, but are not limited to pumitamig (BNT327), which is owned by BioNTech SE and being developed in a collaboration with Bristol Myers Squibb Co. since June 2025, which has begun conducting Phase III clinical studies globally, PF'4404 (SSGJ-707 / PF-08634404), which was licensed globally, ex-China by Pfizer Inc. in July 2025, LM-299, which was licensed globally by Merck & Co., Inc. in November 2024, and…” |
| Partner | AbbVie (ABBV) | “These include, but are not limited to pumitamig (BNT327), which is owned by BioNTech SE and being developed in a collaboration with Bristol Myers Squibb Co. since June 2025, which has begun conducting Phase III clinical studies globally, PF'4404 (SSGJ-707 / PF-08634404), which was licensed globally, ex-China by Pfizer Inc. in July 2025, LM-299, which was licensed globally by Merck & Co., Inc. in November 2024, and…” |
| Competitor | Merck (MRK) | “The proposed indications for ivonescimab in the HARMONi-3 and HARMONi-7 clinical trial settings in first-line NSCLC may face competition from clinical candidates such as novel immunotherapy targets including various clinical candidates targeting T-cell immunoreceptors with Ig and ITIM domains (TIGIT) and lymphocyte activation gene 3 (LAG-3) each of which have various developers for different candidates as either m…” |
Quoted from the company's 10-K filed Feb 23, 2026.
Companies that name SMMT in their SEC reports
| Relationship to SMMT | Company | Filing | Sentence |
|---|---|---|---|
| partner | Revolution Medicines, Inc. (RVMD) | 10-K Feb 25, 2026 | “In June 2025, we entered into a clinical collaboration with Summit Therapeutics, Inc. (Summit) pursuant to which we are evaluating the safety and efficacy, in multiple solid tumor settings, of our clinical-stage RAS(ON) Inhibitors, including daraxonrasib, elironrasib and zoldonrasib, in combination with Summit's ivonescimab, a PD-1/VEGF bispecific antibody.” |
SMMT company outlook (results filed Jul 23, 2026)
- “Non-Squamous Cohort PFS Events Expected to Be Reached in the First Half of 2027 Summit Closes Second Quarter with $690.7 Million in Cash and Investments Miami, Florida, July 23, 2026 - Summit Therapeutics Inc.”
- “The number of PFS events needed in the squamous cohort for the primary analysis is expected to be reached in the second half of 2026, and a planned early interim analysis for OS is expected to take place in conjunction with the primary PFS analysis.”
- “Data from the study under this collaboration agreement is expected to be generated by mid-2027. ◦ In the second quarter of 2025, the company announced a clinical collaboration with Revolution Medicines, Inc.”
- “In addition, these Non-GAAP measures are not based on any comprehensive set of accounting rules or principles. 5 Summit management uses these Non-GAAP measures for internal budgeting and forecasting purposes and to evaluate Summit's financial performance.”
Quoted word-for-word from the SEC 8-K results press release.
SMMT analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.21 | $-0.22 | -4.5% | $54,000 | 12 |
| Next quarter (ends Dec 2026) | $-0.26 | $-0.22 | +15.7% | $3.0M | 11 |
| Current fiscal year (ends Dec 2026) | $-0.84 | $-0.82 | +2.3% | $2.9M | 11 |
| Next fiscal year (ends Dec 2027) | $-0.88 | $-0.88 | +0.3% | $42.0M | 10 |
Key Statistics (as of October 23, 2026 at 10:37 UTC)
| Price | USD 15.55 |
|---|---|
| Change | ▼ 1.77% (down) |
| Previous Close | USD 15.83 |
| Open | USD 15.29 |
| Day Range | USD 15.13 – 15.7 |
| 52-Week Range | USD 12.07 – 29.23 |
| Volume | 4,141,691 shares |
| Market Cap | $12.41B |
| Exchange | NGM |
Technical Analysis (SMMT)
Nexqual's technical model rates SMMT "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 10:37 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 43.2 (neutral) |
| vs SMA50 | Below (USD 15.76) |
| MACD | -0.18 (negative) |
Analyst Ratings (SMMT)
Wall Street analysts rate SMMT "Buy" based on 17 analysts, with a mean price target of USD 30.29 (range USD 12.04–43.74), per Nexqual as of October 23, 2026 at 10:37 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 17 |
| Mean Target | USD 30.29 |
| High Target | USD 43.74 |
| Low Target | USD 12.04 |
| Buy / Hold / Sell | 11 / 6 / 0 |
Earnings (SMMT)
| Next Earnings Date | 2026-10-27 |
|---|---|
| EPS Estimate | USD -0.21 |
| Revenue Estimate | $54,000 |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.21 vs est -0.21 ▲ beat |
| 2026-03-31 | USD -0.18 vs est -0.21 ▲ beat |
| 2025-12-31 | USD -0.21 vs est -0.01 ▼ miss |
| 2025-09-30 | USD -0.23 vs est -0.04 ▼ miss |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Financials & Fundamentals (SMMT)
| Gross Margin | +0.00% |
|---|---|
| Operating Margin | +0.00% |
| Profit Margin | +0.00% |
| ROE | -192.50% |
| Debt / Equity | 0.03 |
| Current Ratio | 6.96 |
| Total Cash | $690.68M |
| Total Debt | $20.38M |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Financial Health Score (SMMT)
Nexqual rates Summit Therapeutics Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 10:37 UTC.
| Growth | Mixed — No data |
|---|---|
| Profitability | Weak — Pre-revenue or very early stage |
| Balance Sheet | Strong — $691M cash vs $20M debt, net cash position |
| Cash Flow | Weak — Operating cash flow -$323M (FY ended Dec 2025, 10-K) |
| Efficiency | Critical — ROE -193%, ROA -101.6% |
Ownership (SMMT)
| Insider Ownership | +80.68% |
|---|---|
| Institutional Ownership | +17.58% |
| Shares Outstanding | 797.75M |
| Float | 153.88M |
| Short % of Float | +26.30% |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Leadership (SMMT)
Summit Therapeutics Inc. is led by Robert W. Duggan, Co-CEO & Executive Chairman, per Nexqual as of October 23, 2026 at 10:37 UTC.
| Co-CEO & Executive Chairman | Robert W. Duggan |
|---|---|
| Co-CEO, President & Director | Mahkam Zanganeh D.D.S. |
| Co-Founder, Chairman of Scientific Advisory Board and Scientific Advisor | Kay Elizabeth Davies DBE, FRS CBE |
| Senior Director of Investor Relations | Nathan LiaBraaten |
Major Backers & Investors (SMMT)
Notable institutional backers of Summit Therapeutics Inc. include Baker Bros. Advisors, LP, FMR, LLC, UBS Group AG, according to Nexqual as of October 23, 2026 at 10:37 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Baker Bros. Advisors, LP | 4.1% |
| FMR, LLC | 1.26% |
| UBS Group AG | 0.65% |
| Goldman Sachs | 0.56% |
| Price (T.Rowe) Associates Inc | 0.49% |
| Point72 Asset Management, L.P. | 0.46% |
| Fidelity | 0.39% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 1.35% |
| State Street | 1.19% |
| BlackRock | 1.19% |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
From Summit Therapeutics Inc.'s Latest SEC 10-K Filing (filed 2026-02-23)
Key Strengths & Strategy (as disclosed to the SEC)
- Trade secrets and know-how can be difficult to protect; however, we take reasonable steps to protect our proprietary technology and processes, in part, by confidentiality agreements and invention assignment agreements with our employees, consultants, scientific advisors, contractors, manufacturers, and commercial partners.
- We also rely on trade secrets, know-how, continuing technological innovation and in-licensing opportunities to develop and maintain our proprietary and competitive position.
Partnerships
- On June 3, 2024, the Company entered into the Second Amendment with Akeso to expand its territories covered under the License Agreement to also include Latin America, including Mexico and all countries in Central America and South America, the Middle East and Africa.
- In connection with the License Agreement, the Company agreed to purchase a certain portion of drug substance and/or drug product for clinical and commercial supply and to enter into a supply agreement with Akeso.
Legal & Regulatory Risks (Item 1A, quoted)
- We do not know whether and to what extent the Trump administration will in the future implement or alter any tariffs, laws or regulations that may increase the cost or feasibility of importing and exporting products, components and information from China to the United States and vice versa.
- Product liability lawsuits against us could cause us to incur substantial liabilities and to limit commercialization of any products that we may develop.
- We face an inherent risk of product liability exposure related to the testing of our product candidates in human clinical trials and will face an even greater risk if we commercially sell any products that we may develop.
- Our operations currently, and may in the future, involve the use of hazardous and flammable materials, including chemicals and medical and biological materials, and produce hazardous waste products.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| CORT | Corcept Therapeutics Incorporat | USD 107.5 | ▼ 7.55% |
| BBIO | BridgeBio Pharma, Inc. | USD 68.12 | ▲ 0.56% |
| TECH | Bio-Techne Corp | USD 72.62 | ▼ 0.03% |
| JAZZ | Jazz Pharmaceuticals plc | USD 214.65 | ▲ 1.26% |
| BMRN | BioMarin Pharmaceutical Inc. | USD 56.63 | ▲ 2.57% |
| HALO | Halozyme Therapeutics, Inc. | USD 124.54 | ▼ 0.23% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:37 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt