Summit Therapeutics Insider Trades: Duggan Increases Stake by 338K Shares
Rhea-AI Filing Summary
Robert W. Duggan, Co-Chief Executive Officer and Director of Summit Therapeutics Inc. (SMMT), reported purchases of the company's common stock on September 10 and 11, 2025. On 09/10/2025 he purchased 333,394 shares at a weighted-average price of $17.68 per share, and on 09/11/2025 he purchased 5,000 shares at $18.07 per share. Following the reported transactions, the filing lists 556,093,090 shares as beneficially owned directly by the reporting person. The filing also discloses several indirect holdings associated with the reporting person, including 31,000 shares held by a spouse and multi-million share interests held through trusts with the spouse as trustee (10,199,776 and 25,457,666 shares).
Positive
- Insider purchases disclosed: 333,394 shares on 09/10/2025 at a weighted-average $17.68 and 5,000 shares on 09/11/2025 at $18.07
- Large direct beneficial ownership reported: 556,093,090 shares reported as directly owned following transactions
- Clear footnote on price range: Purchases on 09/10/2025 occurred at prices ranging $17.49–$17.89, with the filer offering to provide a breakdown on request
- No derivative transactions reported: Table II shows no derivative securities acquired or disposed
Negative
- None.
Insights
TL;DR: Significant insider buys were disclosed—large direct holdings and incremental purchases at ~$17.68–$18.07.
The Form 4 shows the CEO and director acquiring 338,394 shares over two days at a weighted-average price of $17.68 on 09/10/2025 and $18.07 on 09/11/2025. The report lists a very large direct beneficial ownership total of 556,093,090 shares after these transactions and identifies indirect ownership through family trusts and a spouse. No derivative transactions were reported. For investors, insider purchases are a direct disclosure of the executive's transactions but this filing contains no discussion of rationale, timing beyond trade dates, or changes to compensation or options.
TL;DR: Disclosure is clear on transaction sizes, prices, and related-party indirect holdings; no amendments or derivative activity noted.
The Form 4 is complete with transaction dates, codes and footnotes clarifying the weighted-average price range and a disclaimer of beneficial ownership for certain reported indirect holdings. The report is signed and dated 09/11/2025. The presence of significant indirect holdings via trusts and spouse relationships is properly disclosed, and the filer offers to provide breakdowns of purchase prices per the footnote. There are no indicated Section 16 exemptions or 10b5-1 plan checkboxes marked in the provided text.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 5,000 | $18.07 | $90K |
| Purchase | Common Stock | 333,394 | $17.68 | $5.89M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The reported price in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $17.49 to $17.89 per share, inclusive. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose
