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Summit Therapeutics Inc. (SMMT)

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
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1.1900+0.0400 (+3.48%)
At close: 04:00PM EDT
1.2000 +0.01 (+0.84%)
After hours: 04:03PM EDT
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  • A
    Artful Dodger
    It's now been nine MONTHS since SMMT has released any pipeline-related news.

    (The last news that was released was in DEC 2021, and the market reaction was "less than positive.")

    Nine months.

    That's a long time, and the stock price clearly reflects the lack of anything positive from the company.
  • A
    Artful Dodger
    The longer Duggan waits to do something positive on SMMT, the less it's going to matter if the stock is by then trading at 50 cents when "something positive" finally happens.

    We're entering a mega-bear market, and nothing positive in the near-term means SMMT will soon be trading in the pennies.

    PLSE (another Duggan company) is a great example; up 30% today on good news, but the stock has fallen so far down that up 30% today only gets PLSE trading where it traded two months ago.

    Which is hardly a win for PLSE longs.

    (And even with today's bounce PLSE is still down 87% this year.)
  • A
    Artful Dodger
    At some point big money is going to discover that almost 90% of SMMT is held by insiders who have no intention of selling.

    Add in all the retail traders who own SMMT, and how much stock is actually available in the open market?

    I'm guessing NOT a lot. Which means someone with deep pockets could make a ton of money right now by buying the (currently very inexpensive) $2.5 calls and then run this stock up big by buying shares.

    And if you think SMMT bouncing to $10 in a single day is crazy, take a look at stocks like AMTD, HKD and others in the past month.

    It happens all the time. And with such a low PPS, SMMT is a great target right now for big money players who have the ability to make this happen.
    Bullish
  • p
    p
    The phase 3 trial has results coming up soon but I’m not sure when, anybody have info. It does seem very positive
  • t
    toegar2000
    I can't recall any stock I've seen that has so much stock held by insiders compared to what's available.
    Bullish
  • T
    Thomas
    it's nice that forced short covers are a great boost to stock prices - especially when there is so little that is actually available for purchase or sale
  • D
    David
    Please give opinion. I am impressed with the amount of insider buying and considered that a very good sign to buy. But after thinking o about it I think this may be a last ditch bet.. make it or bust. I think this because there isn't any pending news. It will be months before news of the trial results. And I suspect he bought all those shared as a possible last breath of making it
  • L
    Lina
    I like the baby dance lol
    Position held…
  • O
    Ooi
    What about u ...snow...are u long on this stock? And what triggers u to own it..kindly share your thoughts..we need some great minds here to calm the "storm" here..haha
    Bullish
  • A
    Artful Dodger
    @Lamhobe

    "The WHOLE PURPOSE of this stock is not to care what the short term (few years maybe) price is. Why would Duggan care what the stick price is, say, a year from now? I literally can’t think of any reason. What do I care? I don’t."

    So if SMMT is trading at, for example, 10 cents a year from now - about 1/10th it's current price - you wouldn't care and you believe Duggan wouldn't care?

    Moreover, if SMMT stayed at 10 cents for a short term "few years" (how many years is a "few?" 3? 5?), you wouldn't care about this, either?

    Come on...

    The fact is you bought SMMT hoping to make money. That is the ONLY reason why you bought the stock.

    And the sooner this happens, the better.

    So, yes, you care.
  • t
    tigerclaws
    Made a cool $212 shorting yesterday and covering this AM. Hope it goes more. Great Short opportunity.
  • O
    Ooi
    I sense..this "price playing" between left hand selling to right hand buying...dragging time, awaiting for something to happen so as to keep the price low...to make up boring and unattractive to big investors now..but when the medicine is FDA approved and being commercial..then news will be spreaded out very fast..to push the price way up high..so have patience and hopefully i m right
    Bullish
  • p
    p
    The CEO I’m sure will report some action that urged him to own 82% of the company. Truly the best insider trading I ever heard.
  • F
    Faris
    next target $1.94
  • p
    p
    The CEO basically bought half of the company, this size is unheard of. Something is up and the price/sh would have doubled with ease with any other stock. Looks like an easy bet.
  • t
    tigerclaws
    I see a stock offering coming to fund the trials
    Shares will be diluted to 0.60 Atleast
  • L
    Lamhobe
    Agree with John’s reply to Artful Dodger, but more strongly. The WHOLE PURPOSE of this stock is not to care what the short term (few years maybe) price is. Why would Duggan care what the stick price is, say, a year from now? I literally can’t think of any reason. What do I care? I don’t.

    That’s what makes this stock different and so promising. The vast majority shareholder (me too) thinks there is promise and wants to unlock the full potential of that promise. Duggan gives patience, time, and funding. It’s not a drive of empty press releases to keep the stock high to keep funding going. The funding is there as long as the potential is there, no matter the stock price.

    In fact, I think maybe a lower stock price is a benefit to Duggan. People get frustrated and don’t fully exercise their rights in an offering, and he gets to expand his percentage of ownership. I’m wise to him though and fully subscribed and over subscribed.

    Relax. Nothing will happen anytime soon. Unless it does.
  • T
    Thomas
    With the CEO owning 81.15% of the companay, Polar owning a bit over 7%, COO (it think that's her title) owning a bit under 7%, it would seem that we're scrabbling over the crumbs. This is one thoroughly "insider owned" company. In view of the number of shares that changed hands in the last few days, I wonder if the percentages haven't further increased for insiders. I'll look for a new, mandatory SEC, report of changes for the insiders.
  • p
    p
    It’s has to be the only stock on the planet that the CEO owns 82% or more.
  • D
    DD
    We might see $8 again
    Bullish
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