Summit Therapeutics Share Discussion Threads

[1gw] 19/3/2020 18:51

SMMT seems to have been struggling a bit today as other US biotech has bounced hard. So I've sold some SMMT to raise funds and added to another US biotech holding.

That crystallises a 60%+ profit on my average purchase price which seems extraordinary in the current market (absent a more obvious Covid19 link) as I only started buying on 23rd Jan and bought most of my holding starting on 11th March.

[kirk 6] 19/3/2020 14:47

When I look at farn I had 200k shares average 70p. I am waiting for atleast $6-7 based on news flow. GL

[chrisatrdg] 19/3/2020 13:52

Based on where we are on the NASDAQ & wishing to reclaim some of my £50k I have 3,300 ADD's on forward sale at $3.10 I hope I am not making a mistake.Hey ho.

[1gw] 18/3/2020 20:29

And of course, SMMT performance looks even better if you normalise against the XBI or the IBB.

[1gw] 18/3/2020 20:27

If only I'd waited for some real news before buying. (Closing price 4th March around 26p with ADR = $1.66, £1=$1.28).

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sikhthetech 4 Mar '20 - 19:58 - 25550 of 25594 0 0 0

Best to wait for some real news before buying, rather than tiny trades which can move the price.

[1gw] 18/3/2020 20:21

47p equivalent close or thereabouts, I think. ($2.74/ADR, £1=$1.16)

[1gw] 16/3/2020 18:58

Since it seems to be working, I've bought some more again today. The volume is even higher today than it was on Friday. Price moving around a lot as well.

[chrisatrdg] 16/3/2020 15:34

Kirk6 I remember those days well & feel at the moment that I have let my family down by not selling many more shares than I did.Hey ho.

[waterloo01] 16/3/2020 15:33

Stop ramping we all know the reason it was that high was before the DMD failure.

Good to see though. (the rise)

[kirk 6] 16/3/2020 15:21

Equivalent of 42p . Don't forget though these were £2.50 at one stage

[chrisatrdg] 16/3/2020 15:14

What the hell is happening down & now right up.Last time I looked it was down to $2.18 & now its $2.94.Glad I carried all mine over but still have large paper losses elsewhere.However its better than a kick up the backside.

[kirk 6] 16/3/2020 15:10

Mine aren't even converted yet lol waiting for $10 a share anyway

[hernando2] 16/3/2020 15:02

Blimey...i used to have a decent holding but only took 25% of it across to America...big mistake

[chrisatrdg] 16/3/2020 10:44

Lets hope that the Summit share price on the NASDAQ continues it upward journey & not go back again in AIM fashion.

Expecting Final results 11 months to 31st December 2019 soon.

[kirk 6] 14/3/2020 12:01

There is huge ground to make up though now and as Waterloo says antibiotics will have a lot of interest after this corona virus is over. Will hold for $8-$10 dollars. Can't get excited before that.

[waterloo01] 14/3/2020 11:52

I think the unleashing of whatever it takes into the health sector is and will change the attitude to antibiotic development, as is now being seen in vaccines.

One 'fly' in the ointment is that during the virus crisis I would imagine that trial recruitment might be seriously effected.

[1gw] 14/3/2020 11:48

Closed pretty much at the high at around 37p equivalent ($2.30/ADR @ £1=$1.23).

So more-or-less doubled in price from where it was on AIM just before delisting.

Huge volume (looks to me like highest volume day over last year except for 28th June scrolling through Yahoo! Finance data).

And no obvious stock-specific news, or even commentary.

Intriguing.

[kirk 6] 13/3/2020 20:49

Hopefully see these fill the gap back to $10 on the Nasdaq this year

[best1467] 13/3/2020 20:47

I would put it down to been 1 undervalued to start with 2 solely NASDQ listed 3 And possibly the main one been in the Antibiotic Virus fighting business which is obviously seen as in demand

[kirk 6] 13/3/2020 20:18

Thanks Chris

[chrisatrdg] 13/3/2020 19:13

Hi kirk6 at the current share price (19.10) of $2.22 at 1.232 $ to £ = Old money is 36p.

[1gw] 13/3/2020 19:01

sikhthetech - for the avoidance of doubt, I have no real idea why the price has been rising so strongly recently, I just note that it is. My reference to the Sky interview was to float a possible reason, so that those who know more about the subject than I do (waterloo?) might be able to comment on it.

Today we seem to have hit a 52-week high on very good volume. Maybe it's nothing to do with the virus or a possible antibiotic angle on some of the consequences of it. Maybe it's just momentum traders following a trend. Maybe its rumours of a deal, although I haven't seen any. Who knows? If a share I own goes up so strongly, so quickly, I like to try to find a rationalisation of the move - isn't that normal behaviour for investors?

[sikhthetech] 13/3/2020 18:55

In terms of Covid-19 the urgency is to develop a vaccine for Covid-19.

Do SUMM make vaccines????




There is already a Pneumonia vaccine available for bacterial pneumonia...

[1gw] 13/3/2020 18:46

Complete fruitcake, I'm afraid.