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Summit Therapeutics' (SMMT) shares were up nearly 1% in Wednesday trading after Jefferies upgraded the company's stock to buy from hold and raised its price target to $25 from $15.Trading volume stood at over 3.1 million shares compared with a daily average of roughly 5.3 million.Price: $17.40, Change: $+0.12, Percent Change: +0.69%
Summit Therapeutics Inc (SMMT) has an average rating of overweight and mean price target of $29.06, according to analysts polled by FactSet.
Healthcare stocks declined Wednesday afternoon, with the NYSE Healthcare Index falling 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.8%.The iShares Biotechnology ETF (IBB) decreased 0.3%.In corporate news, Boston Scientific (BSX) is recalling thousands of its percutaneous catheters due to possible arterial sheath tip separation that could lead to complications with a retained tip, the US Food and Drug Administration confirmed in a Wednesday statement. Separately, Boston Scientific has identified a cybersecurity incident that affected some of its IT systems and led to global disruptions in operations, the company said Wednesday in a regulatory filing. Boston Scientific shares were down 3.3%.Revolution Medicines' (RVMD) Rasonque, or daraxonrasib, has been approved for the treatment of metastatic pancreatic cancer, the US Food and Drug Administration said Wednesday. Revolution shares rose 2.9%.Summit Therapeutics (SMMT) partner Akeso reported "positive" results from a phase 3 trial of ivonescimab plus chemotherapy, compared with durvalumab plus chemotherapy as a first-line treatment of advanced biliary tract cancer. Summit shares jumped past 8%.
Healthcare stocks were leaning lower pre-bell Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.1% and the iShares Biotechnology ETF (IBB) declining by 0.5%.Boston Scientific (BSX) has identified a cybersecurity incident that affected its certain IT systems and led to global disruption in operations, the company said in a filing. Boston Scientific shares were down more than 5% premarket.Jazz Pharmaceuticals' (JAZZ) wholly owned subsidiary plans to offer $1 billion of exchangeable senior notes due 2032, the company said. Jazz Pharmaceuticals stock was down more than 2% pre-bell.Summit Therapeutics (SMMT) partner Akeso reported "positive" results from a phase 3 trial of ivonescimab plus chemotherapy, compared with durvalumab plus chemotherapy as a first-line treatment of advanced biliary tract cancer. Shares of Summit Therapeutics were up more than 12% premarket.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1%, and the actively traded Invesco QQQ Trust (QQQ) was 0.3% lower in Wednesday's premarket activity as July PCE inflation came in above expectations.US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures gaining 0.03%, and Nasdaq futures slipping 0.2% before the start of regular trading.Mortgage applications fell by 1% in the week ended Aug. 21, a reflection of slightly higher average 30-year fixed mortgage rates, according to Mortgage Bankers Association data released Wednesday.Personal income rose by 0.4% in July following June's 0.2% gain, larger than the expected 0.2% gain in a survey conducted by Bloomberg as of 6:10 am ET.New orders for US durable goods rose by 1.1% in July following an increase of 0.5% in the previous month, compared with the expectations for a smaller increase of 0.5% in a survey compiled by Bloomberg.Weekly crude oil stocks data will be released at 10:30 am ET.Richmond Fed President Tom Barkin is slated to speak on Wednesday.In premarket activity, bitcoin was down by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.7% lower, Ether ETF (EETH) advanced 0.03%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated 0.01%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.2%, the iShares US Technology ETF (IYW) was 0.3% lower, and the iShares Expanded Tech Sector ETF (IGM) was up 0.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 1.8% higher, while the iShares Semiconductor ETF (SOXX) declined by 0.1%.Intuit (INTU) shares were down more than 9% after the company's outlook for fiscal Q1 and fiscal 2027 missed analyst expectations.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.1%, the Vanguard Health Care Index Fund (VHT) advanced 0.8%, while the iShares US Healthcare ETF (IYH) declined 0.9%. The iShares Biotechnology ETF (IBB) was 0.1% higher.Summit Therapeutics (SMMT) stock was up more than 9% premarket after the company said late Tuesday its partner Akeso reported "positive" results from a phase 3 trial of ivonescimab plus chemotherapy, compared with durvalumab plus chemotherapy as a first-line treatment of advanced biliary tract cancer.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.5%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.03% lower.Trupanion (TRUP) shares were down 4% in premarket activity after Piper Sandler downgraded the company to neutral from overweight and cut its price target to $32 from $45.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.6%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.1% higher.JM Smucker (SJM) shares were up more than 3% pre-bell after the company reported higher fiscal Q1 adjusted earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, while the Vanguard Industrials Index Fund (VIS) was inactive and the iShares US Industrials ETF (IYJ) was flat.SFL (SFL) stock was up more than 2% before the opening bell after the company posted higher preliminary Q2 basic earnings and operating revenue.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.7%.Eni (E) stock was down more than 1% before market open after losing 2% in the prior session. The company said Tuesday it is working with project partners BP (BP) and Egyptian Petroleum to reach a final investment decision in a few months regarding the major gas discovery Denise West in Egypt's Temsah Concession. BP stock was 1.7% lower.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 2.5% to $80.32 per barrel on the New York Mercantile Exchange. Natural gas was up 2.5% at $2.84 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased 1.1%, while the United States Natural Gas Fund (UNG) was 1.1% higher.Gold futures for November were down by 0.3% at $4,682.80 an ounce on the Comex. Silver futures gained 0.2% to reach $69.60 an ounce. SPDR Gold Shares (GLD) decreased 1%, and the iShares Silver Trust (SLV) was 0.3% lower.
(Updates with economic data, recent oil price changes, world markets' overview, and corporate stock movements.)US equity futures were mostly flat pre-bell Wednesday as traders awaited a key inflation report and AI bellwether Nvidia's (NVDA) financial results.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were flat, and Nasdaq futures were 0.2% lower.President Donald Trump said that the US Navy has told him that all mines have been removed or detonated within the Strait of Hormuz. "There is a Zero Tolerance policy on mine placement in full force and effect," Trump said in a post on Truth Social.Nvidia is expected to report its fiscal Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $2.09 per share on revenue of $92.27 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.3% at $85.25 per barrel and US West Texas Intermediate crude 2.5% lower at $80.27 per barrel.The July core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, released at 8:30 am ET, increased to 0.2% from a pace of 0.1% in the prior month and the expected 0.2% gain in estimates compiled by Bloomberg. Durable goods new orders rose 1.1% in July after a 0.5% gain in the prior month, compared with expectations for a 0.5% increase.Personal income rose by 0.4% in July following June's 0.2% gain, larger than the expected 0.2% gain. The second estimate for Q2 GDP came in at 1.5%, unchanged from the advance print and meeting expectations.Federal Reserve Richmond President Thomas Barkin is slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 0.6% higher, Hong Kong's Hang Seng ended 0.6% higher, and China's Shanghai Composite finished 0.6% higher. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, Intuit (INTU) shares fell 9.9% after the company's outlook for fiscal Q1 and the full financial year missed market expectations. Boston Scientific (BSX) stock was down 5.8% after the company said it has identified a cybersecurity incident that affected certain IT systems and led to global disruption in operations.On the winning side, Meta Platforms (META) shares rose 1.9% after Bloomberg reported that the company and 29 state attorneys general have discussed a potential settlement of a case in which the technology giant is accused of designing Facebook and Instagram to addict teenagers. Uber Technologies (UBER) stock was up 1.1% after multiple media outlets reported that the company is launching a new safety feature that allows linked parents and guardians to view a live video stream of their teenager's ride. Summit Therapeutics (SMMT) shares were 14% higher after the company said its partner Akeso reported "positive" results from a phase 3 trial of ivonescimab plus chemotherapy, compared with durvalumab plus chemotherapy as a first-line treatment of advanced biliary tract cancer.
Summit Therapeutics (SMMT) partner Akeso has received marketing authorization from China's National Medical Products Administration for ivonescimab plus chemotherapy as a first-line treatment for advanced squamous non-small cell lung cancer, Summit said Wednesday.The approval, based on a late-stage trial, marks the third NMPA-approved indication in China for an ivonescimab-containing regimen, Summit said.The trial showed statistically significant and clinically meaningful improvements in both progression-freeand overall survival versus tislelizumab plus chemotherapy, the biopharmaceutical oncology company said.Shares of Summit Therapeutics were up more than 2% in recent Wednesday trading.Price: $15.54, Change: $+0.42, Percent Change: +2.78%
Summit Therapeutics (SMMT) has an average rating of overweight and mean price target of $29.52, according to analysts polled by FactSet.
Summit Therapeutics (SMMT) has an average rating of overweight and mean price target of $28.51, according to analysts polled by FactSet.Price: $13.62, Change: $-1.37, Percent Change: -9.11%
Robert W Duggan, 10% Owner, Director, Co-Chief Executive Officer, on June 12, 2026, executed a purchase for 3,810,000 shares in Summit Therapeutics (SMMT) for $49,987,200. Following the Form 4 filing with the SEC, Duggan has control over a total of 610,015,809 common shares of the company, with 573,883,879 shares held directly and 36,131,930 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1599298/000105591926000007/xslF345X05/wk-form4_1781281727.xmlPrice: $13.62, Change: $+0.54, Percent Change: +4.09%
Summit Therapeutics (SMMT) has withdrawn its proposed underwritten public offering of securities, due to market conditions, the company said in a Thursday regulatory filing.The company had announced the launch of an underwritten public offering of $500 million of its common stock on Tuesday.Price: $13.49, Change: $+0.43, Percent Change: +3.33%
Manmeet Singh Soni, Director, COO and CFO, on June 04, 2026, executed a purchase for 50,000 shares in Summit Therapeutics (SMMT) for $722,250. Following the Form 4 filing with the SEC, Soni has control over a total of 3,123,603 common shares of the company, with 3,123,603 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1599298/000156976926000004/xslF345X05/wk-form4_1780605646.xml
Summit Therapeutics' (SMMT) ivonescimab in combination with chemotherapy demonstrated a significant overall survival benefit over tislelizumab plus chemotherapy in the Phase III HARMONi-6 trial in previously untreated patients with advanced squamous non-small cell lung cancer, the company said Sunday.The company said ivonescimab reduced the risk of death by 34%, with patients receiving the drug plus chemotherapy achieving longer median overall survival and higher 24-month survival rates than those treated with tislelizumab plus chemotherapy.The survival benefit was consistent across both PD-L1-negative and PD-L1-positive patient groups. The study had previously met its primary endpoint of progression-free survival, the company added.The China-based trial, led by Akeso, showed no new safety concerns. Results were presented at the 2026 American Society of Clinical Oncology Annual Meeting and published in The Lancet.Summit Therapeutics shares were up over 4% in Monday premarket activity.Price: $18.41, Change: $+0.87, Percent Change: +4.97%
BioNTech's (BNTX) cancer-drug pipeline is showing stronger early results and is approaching several important clinical milestones, improving confidence in the company's long-term outlook, UBS Securities said Wednesday in a report.BioNTech is developing a new type of cancer medicine designed to both activate the immune system and cut off a tumor's blood supply, and early data from the company's lead program, pumitamig, in lung cancer have been encouraging in studies conducted in China and globally, with safety results that appear manageable, the report said.BioNTech's broader cancer pipeline remains under-recognized, and pumitamig may become competitive in several difficult-to-treat cancers, including triple-negative breast cancer and colorectal cancer, the report said. Global trial results look similar to early data from China, easing investor concerns that the treatment might not work the same way across regions, UBS said.A key moment for the field will come at the upcoming American Society of Clinical Oncology meeting, where Akeso and Summit Therapeutics (SMMT) will present overall survival data from their HARMONi-6 study, the report said. Strong results would help validate the drug approach BioNTech is pursuing and may shift sentiment around the company's oncology strategy, UBS said.UBS upgraded its rating on BioNTech stock to buy from neutral and raised its price target to $135 from $117.Price: $93.33, Change: $+1.08, Percent Change: +1.17%
Summit Therapeutics (SMMT) shares fell nearly 2% in intraday trading on Friday after HC Wainwright downgraded the stock to neutral from buy.Trading volume stood at about 4.2 million shares, compared with a daily average of over 3.4 million.Price: $17.15, Change: $-0.32, Percent Change: -1.83%
Summit Therapeutics (SMMT) has an average rating of overweight and mean price target of $28.51, according to analysts polled by FactSet.
Summit Therapeutics (SMMT) has an average rating of overweight and mean price target of $28.51, according to analysts polled by FactSet.
