Summit Therapeutics rebounds after HARMONi-3-driven selloff, short covering adds fuel
SMMT•Summit Therapeutics (SMMT) is rising as dip-buyers move back into the name after last week’s sharp selloff tied to an ivonescimab (HARMONi-3) update. The stock’s elevated short interest is amplifying the bounce as traders cover into the rebound.
1) What’s moving SMMT today
Summit Therapeutics shares are higher today, May 5, 2026, in what appears to be a rebound trade following the stock’s steep decline late last week around an ivonescimab HARMONi-3 update that failed to meet investors’ “beat-and-raise” expectations. With no fresh, company-issued headline clearly driving the tape this morning, price action looks consistent with dip-buying and positioning ahead of upcoming oncology catalysts and regulatory milestones. (ts2.tech)
