Michael G. Grey Sells 5,760 Shares of Mirati Therapeutics Inc (MRTX) Stock

Mirati Therapeutics Inc (NASDAQ:MRTX) Director Michael G. Grey sold 5,760 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $65.30, for a total value of $376,128.00. Following the completion of the sale, the director now directly owns 7,100 shares in the company, valued at approximately $463,630. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Mirati Therapeutics stock traded down $3.68 during trading hours on Wednesday, reaching $63.50. 930,735 shares of the company’s stock were exchanged, compared to its average volume of 649,017. Mirati Therapeutics Inc has a 52-week low of $28.50 and a 52-week high of $80.00. The firm has a market cap of $2.29 billion, a PE ratio of -19.91 and a beta of 1.95.

Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings results on Monday, April 29th. The biotechnology company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.20). The business had revenue of $1.24 million during the quarter. On average, analysts forecast that Mirati Therapeutics Inc will post -5 EPS for the current fiscal year.

A number of research firms recently issued reports on MRTX. Zacks Investment Research lowered Mirati Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. BidaskClub raised Mirati Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Svb Leerink reissued an “outperform” rating on shares of Mirati Therapeutics in a research note on Friday, February 15th. Cowen reissued a “buy” rating on shares of Mirati Therapeutics in a research note on Wednesday. Finally, JPMorgan Chase & Co. began coverage on Mirati Therapeutics in a research note on Wednesday, April 17th. They set a “neutral” rating and a $72.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $69.08.

Several institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC increased its holdings in shares of Mirati Therapeutics by 88.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,034,744 shares of the biotechnology company’s stock worth $149,147,000 after buying an additional 956,022 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Mirati Therapeutics by 30.0% during the 4th quarter. BlackRock Inc. now owns 2,052,949 shares of the biotechnology company’s stock worth $87,086,000 after buying an additional 474,097 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Mirati Therapeutics during the 1st quarter worth $17,687,000. Goldman Sachs Group Inc. increased its holdings in shares of Mirati Therapeutics by 294.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 305,829 shares of the biotechnology company’s stock worth $22,418,000 after buying an additional 228,312 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Mirati Therapeutics by 21.8% during the 4th quarter. Jennison Associates LLC now owns 1,216,464 shares of the biotechnology company’s stock worth $51,602,000 after buying an additional 217,960 shares during the last quarter.

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About Mirati Therapeutics

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.

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