Rhumbline Advisers boosted its position in Mirati Therapeutics Inc (NASDAQ:MRTX) by 6.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 35,505 shares of the biotechnology company’s stock after acquiring an additional 2,015 shares during the period. Rhumbline Advisers owned 0.09% of Mirati Therapeutics worth $2,766,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Mirati Therapeutics by 36.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,984,506 shares of the biotechnology company’s stock valued at $307,404,000 after acquiring an additional 802,468 shares during the period. Perceptive Advisors LLC grew its holdings in Mirati Therapeutics by 149.0% during the 2nd quarter. Perceptive Advisors LLC now owns 2,899,606 shares of the biotechnology company’s stock valued at $298,659,000 after buying an additional 1,735,224 shares in the last quarter. BlackRock Inc. grew its holdings in Mirati Therapeutics by 8.6% during the 2nd quarter. BlackRock Inc. now owns 2,536,034 shares of the biotechnology company’s stock valued at $261,211,000 after buying an additional 199,939 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Mirati Therapeutics by 47.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,206,144 shares of the biotechnology company’s stock valued at $124,233,000 after buying an additional 388,516 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Mirati Therapeutics by 329.7% during the 2nd quarter. Invesco Ltd. now owns 1,002,795 shares of the biotechnology company’s stock valued at $103,288,000 after buying an additional 769,429 shares in the last quarter.
A number of research analysts have weighed in on the company. Cowen reaffirmed a “buy” rating on shares of Mirati Therapeutics in a report on Friday, October 18th. Credit Suisse Group set a $115.00 target price on Mirati Therapeutics and gave the company a “buy” rating in a report on Friday, September 27th. HC Wainwright restated a “buy” rating on shares of Mirati Therapeutics in a report on Thursday, October 17th. Citigroup set a $130.00 target price on Mirati Therapeutics and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Zacks Investment Research cut Mirati Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $105.67.
MRTX stock traded up $2.70 during midday trading on Tuesday, hitting $105.88. The stock had a trading volume of 7,880 shares, compared to its average volume of 917,155. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of -33.27 and a beta of 2.05. The business has a 50-day moving average of $84.40 and a two-hundred day moving average of $87.61. Mirati Therapeutics Inc has a 52-week low of $34.39 and a 52-week high of $111.99.
Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings results on Monday, November 4th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.25) by ($0.13). Mirati Therapeutics had a negative return on equity of 48.60% and a negative net margin of 2,698.66%. The firm had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $0.50 million. Equities research analysts expect that Mirati Therapeutics Inc will post -5.36 EPS for the current year.
In other news, CEO Charles M. Baum sold 51,810 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $86.22, for a total transaction of $4,467,058.20. Following the completion of the transaction, the chief executive officer now directly owns 117,851 shares in the company, valued at $10,161,113.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bruce L. A. Carter sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $89.24, for a total value of $267,720.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at $267,720. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by insiders.
Mirati Therapeutics Profile
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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