SMMT Summit Therapeutics Inc.
Price Chart
Executive Summary
Both co-CEOs of Summit Therapeutics (SMMT) each purchased 3.81M shares open-market on June 12, 2026, at $13.12, aggregating ~$100M. This represents ~0.98% of market cap, one of the largest insider buying clusters by dollar value relative to size in the sector. The unanimous C-suite buying signals extreme management conviction, though prior insider cluster predictions on SMMT have underperformed.
Key Financial Metrics
Actionable Insight
The scale and seniority of this insider buying cluster is a strong signal that management sees material upside from current levels. Traders should watch for near-term clinical data catalysts (ivonescimab trial readouts). However, historical insider cluster calls on SMMT have been negative at T+20, so size positions accordingly and consider a trailing stop.
Key Facts
- Co-CEOs Robert W. Duggan and Mahkam Zanganeh each purchased 3,810,000 shares on June 12, 2026.
- Total insider buying value: ~$99.97M at $13.12/share.
- Total value equals ~0.98% of SMMT's $10.2B market cap.
- Both purchases were open-market (code P) — not grants or options exercises.
- The cluster occurred within a 7-day window with no other insider trades.
Financial Impact
~$100M in insider open-market buying, ~0.98% of market cap.
Risk Factors
- Biotech clinical trial risk (ivonescimab data may disappoint).
- Prior insider cluster reports on SMMT showed negative T+20 returns (avg -19%), suggesting this signal may be less reliable for this ticker.
- The stock already has a $10.2B market cap — limited upside if market has already priced in optimism.
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-SMMT-1781289346843 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 12, 2026
4d ago
|
Insider Cluster
| $14.01 $14.13 | ▲ +0.86% | ▼ −0.91% | $13.88 (−0.93%) |
|
Jun 12, 2026
4d ago
|
Institutional Cluster
| $14.01 $14.13 | ▲ +0.86% | ▼ −0.91% | $13.88 (−0.93%) |
|
Jun 11, 2026
5d ago
|
Institutional Cluster
| $13.08 $14.01 | ▲ +7.11% | ▲ +6.57% | $13.88 (+6.12%) |
|
Jun 9, 2026
7d ago
|
S-3ASR
| $13.05 $13.08 | ▼ −0.23% | ▲ +1.47% | $13.88 (−6.36%) |
|
Jun 4, 2026
12d ago
|
Insider Cluster
| $14.77 $14.11 | ▼ −4.47% | ▼ −4.69% | $13.88 (−6.03%) |
|
Jun 4, 2026
12d ago
|
Insider Cluster
| $14.77 $14.11 | ▼ −4.47% | ▼ −4.69% | $13.88 (−6.03%) |
|
Jun 3, 2026
13d ago
|
8-K
| $15.07 $14.84 | ▼ −1.53% | ▼ −1.93% | $13.88 (−7.90%) |
|
Jun 1, 2026
15d ago
|
8-K
| $15.71 $14.86 | ▼ −5.41% | ▼ −5.56% | $13.88 (−11.65%) |
|
Apr 30, 2026
6w ago
|
8-K
| $16.12 $16.98 | ▲ +5.37% | ▲ +5.71% | $13.88 (−13.87%) |
|
Apr 17, 2026
8w ago
|
DEFA14A
| $25.12 $26.38 | ▲ +5.02% | ▲ +5.67% | $13.88 (−44.75%) |
US Market Status
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