Investors Purchase High Volume of Mirati Therapeutics Call Options (MRTX)

Mirati Therapeutics Inc (NASDAQ:MRTX) was the target of some unusual options trading on Tuesday. Stock traders purchased 1,560 call options on the stock. This is an increase of 1,596% compared to the average volume of 92 call options.

NASDAQ:MRTX opened at $50.00 on Wednesday. The firm has a market capitalization of $1.43 billion, a PE ratio of -17.99 and a beta of 2.22. Mirati Therapeutics has a one year low of $3.10 and a one year high of $53.50.

Mirati Therapeutics (NASDAQ:MRTX) last posted its quarterly earnings data on Monday, May 7th. The biotechnology company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.12. The company had revenue of $9.47 million during the quarter, compared to analysts’ expectations of $10.00 million. research analysts anticipate that Mirati Therapeutics will post -2.67 earnings per share for the current fiscal year.

In related news, major shareholder Venbio Select Advisor Llc bought 400,000 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was acquired at an average cost of $38.85 per share, for a total transaction of $15,540,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Boxer Capital, Llc bought 193,050 shares of the firm’s stock in a transaction on Thursday, June 7th. The shares were bought at an average price of $38.85 per share, with a total value of $7,499,992.50. The disclosure for this purchase can be found here. Corporate insiders own 4.86% of the company’s stock.

Large investors have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of Mirati Therapeutics in the 1st quarter worth $157,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Mirati Therapeutics in the 1st quarter worth $193,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Mirati Therapeutics in the 4th quarter worth $207,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Mirati Therapeutics in the 1st quarter worth $239,000. Finally, Sofinnova Ventures Inc purchased a new stake in shares of Mirati Therapeutics in the 1st quarter worth $267,000. Hedge funds and other institutional investors own 84.77% of the company’s stock.

MRTX has been the subject of a number of research reports. BidaskClub lowered shares of Mirati Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 29th. SunTrust Banks boosted their target price on shares of Mirati Therapeutics to $40.00 and gave the company a “buy” rating in a research note on Friday, March 9th. ValuEngine upgraded shares of Mirati Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research lowered shares of Mirati Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, March 15th. Finally, Citigroup boosted their target price on shares of Mirati Therapeutics from $23.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $27.67.

About Mirati Therapeutics

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.

Receive News & Ratings for Mirati Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mirati Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply