We recently published a list of These 10 Firms Topped Wednesday’s Trading. In this article, we are going to take a look at where Summit Therapeutics Inc. (NASDAQ:SMMT) stands against other firms that topped Wednesday’s trading.
Wall Street’s major indices rebounded anew on Wednesday as worries about tariff policies and the Federal Reserve’s independence tapered off after President Donald Trump assured that he had no intentions of ousting Jerome Powell.
The Nasdaq surged by 2.5 percent, the S&P 500 rose by 1.67 percent, while the Dow Jones increased by 1.07 percent.
Ten companies mirrored the broader market optimism as optimistic investors resumed pouring funds into their stocks. In this article, we have identified Wednesday’s 10 best-performing stocks during the intra-day trading and detailed the reasons behind their strong performance.
To come up with the list, we considered only the stocks with more than $2 billion in market capitalization and $5 million in intraday trading volume.
A laboratory employee in a sterile environment inspecting a microscope focused on a Clostridioides difficile infection sample.
Summit Therapeutics Inc. (NASDAQ:SMMT)
Summit Therapeutics surged by 23.76 percent at intra-day trading on Wednesday, a fourth straight day, before ending the day just up by 21.5 percent at $33.23 apiece as investor sentiment was boosted by the positive results of its phase 3 study for its lung cancer treatment candidate.
According to SMMT, Akeso achieved a significant milestone in its Phase 3 clinical trial to study ivonescimab’s combination with platinum-based chemotherapy as against the combination of tislelizumab, a PD-1 inhibitor, with the same chemo treatment.
The trial targeted patients with locally advanced or metastatic squamous non-small cell lung cancer (NSCLC) without regard to PD-L1 expression levels.
According to the companies, the combination of ivonescimab and chemotherapy significantly improved progression-free survival (PFS) compared to tislelizumab and chemotherapy. More importantly, no safety issues were recorded during the trial.
Following the clinical update, SMMT earned an Overweight rating from Cantor Fitzgerald, saying that it “continues to view ivonescimab as an asset with a highly binary future: either better than pembro with huge market potential or undifferentiated from pembro and of limited value.”
Overall, SMMT ranks 2nd on our list of firms that topped Wednesday’s trading. While we acknowledge the potential of SMMT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than SMMT but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
