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Director Xia Yu of Summit Therapeutics Inc. (NASDAQ:SMMT), a $14.26 billion market cap company, acquired 533,617 shares of common stock on October 21, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The shares were purchased at $18.74, close to the current trading price of $18.75, totaling approximately $9.9 million. According to InvestingPro analysis, the stock appears overvalued at current levels.
The acquisition was made through a private placement transaction as per an agreement dated October 21, 2025. Following the transaction, Xia Yu now indirectly owns 32,057,147 shares through Akeso, Inc. The stock has gained 17.62% year-to-date, with InvestingPro data showing a beta of -1.14, indicating movement typically opposite to the market. Get access to 8 more key ProTips and comprehensive analysis in the Pro Research Report.
In other recent news, Summit Therapeutics reported its third-quarter earnings for 2025, showing a narrower-than-expected loss. The company posted an earnings per share (EPS) of -$0.13, surpassing analysts’ estimates of -$0.17, marking a 23.53% surprise. Despite this positive earnings performance, investor concerns about future guidance and operational expenses were evident. Additionally, UBS reiterated its Buy rating and maintained a $30.00 price target following the presentation of detailed HARMONi-6 clinical trial data. The trial results showed that ivonescimab plus chemotherapy achieved a statistically significant progression-free survival hazard ratio, exceeding expectations. Meanwhile, H.C. Wainwright lowered its price target for Summit Therapeutics to $40.00 from $50.00, maintaining a Buy rating. Jefferies also adjusted its price target to $42.00 from $44.00, while keeping a Buy rating. These developments highlight mixed reactions from analysts and investors concerning the company’s recent updates.
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