Summit Stock Skyrockets Nearly 700% YTD: Time to Sell or Hold?

Shares of Summit Therapeutics (SMMT) have soared 689% year to date, significantly outperforming the industry’s 2.5% decline. The stock has outperformed the sector and the S&P 500 during the same period. SMMT’s shares are also trading above the 50-day and 200-day moving averages.SMMT Stock Outperforms Industry, Sector & S&P 500 Image Source: Zacks Investment ResearchThis uptick in stock price started in May after the company reported that its lead pipeline drug ivonescimab outdid Merck’s (MRK) blockbuster on ...