Summit Therapeutics shares are trading lower after closing up over 270% Thursday on cancer data.
Portfolio Pulse from Benzinga Newsdesk
Summit Therapeutics shares are trading lower after a significant rise of over 270% on Thursday due to positive cancer data.
May 31, 2024 | 11:46 am
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Summit Therapeutics shares are experiencing a decline after a substantial increase of over 270% on Thursday, driven by positive cancer data.
The significant rise in share price on Thursday was likely due to the positive cancer data, leading to a potential overvaluation. The current decline suggests a market correction as investors take profits.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100