Summit Therapeutics(SMMT) Insiders Placed Bullish Bets Worth US$62m in Last 12 Months
Over the last year, a good number of insiders have significantly increased their holdings in Summit Therapeutics Inc. (SMMT).
This is encouraging because it indicates that insiders are more optimistic about the company's prospects.
Summit Therapeutics is a Cambridge, Massachusetts-based medicinal therapies company that IPO’d in the U.S. in 2015. The company was originally domiciled in the United Kingdom but decided to relocate to the United States in 2020 due to perceived strategic advantages like access to capital. The company is levering its proprietary Discuva Platform for drug development. The platform is intended to expand the company’s leadership position in the research and development of new mechanism antibiotics by identifying novel targets, determining the mechanism of action, and helping to optimize against bacterial resistance.
While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether.
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