Marshall Wace North America L.P. decreased its position in shares of Mirati Therapeutics Inc (NASDAQ:MRTX) by 59.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 323,793 shares of the biotechnology company’s stock after selling 480,983 shares during the quarter. Marshall Wace North America L.P.’s holdings in Mirati Therapeutics were worth $15,251,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MRTX. BlackRock Inc. lifted its position in Mirati Therapeutics by 128.8% during the second quarter. BlackRock Inc. now owns 1,451,214 shares of the biotechnology company’s stock worth $71,544,000 after purchasing an additional 816,980 shares during the period. FMR LLC lifted its position in Mirati Therapeutics by 67.5% during the second quarter. FMR LLC now owns 1,986,315 shares of the biotechnology company’s stock worth $97,926,000 after purchasing an additional 800,223 shares during the period. Janus Henderson Group PLC bought a new stake in Mirati Therapeutics during the second quarter worth about $32,639,000. OppenheimerFunds Inc. bought a new stake in Mirati Therapeutics during the second quarter worth about $26,072,000. Finally, Credit Suisse AG lifted its position in Mirati Therapeutics by 1,682.9% during the third quarter. Credit Suisse AG now owns 449,408 shares of the biotechnology company’s stock worth $21,167,000 after purchasing an additional 424,202 shares during the period.
Shares of NASDAQ MRTX opened at $39.12 on Friday. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -14.07 and a beta of 1.86. Mirati Therapeutics Inc has a 12 month low of $15.35 and a 12 month high of $65.35.
Mirati Therapeutics (NASDAQ:MRTX) last issued its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.85) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.87) by $0.02. Sell-side analysts forecast that Mirati Therapeutics Inc will post -3.12 EPS for the current year.
MRTX has been the subject of several recent analyst reports. Guggenheim initiated coverage on shares of Mirati Therapeutics in a research report on Monday, September 17th. They set a “neutral” rating for the company. Cowen reissued a “buy” rating on shares of Mirati Therapeutics in a research note on Thursday, September 27th. Cann reissued a “buy” rating and set a $62.00 target price on shares of Mirati Therapeutics in a research note on Sunday, October 21st. Zacks Investment Research raised Mirati Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, BidaskClub raised Mirati Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, November 8th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Mirati Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $55.50.
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Mirati Therapeutics Profile
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.
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