Thrivent Financial for Lutherans purchased a new position in shares of Mirati Therapeutics Inc (NASDAQ:MRTX) during the first quarter, Holdings Channel reports. The institutional investor purchased 3,715 shares of the biotechnology company’s stock, valued at approximately $286,000.
A number of other hedge funds have also bought and sold shares of the business. CIBC World Markets Inc. purchased a new stake in shares of Mirati Therapeutics during the 4th quarter valued at $712,000. Geode Capital Management LLC grew its position in Mirati Therapeutics by 15.3% during the first quarter. Geode Capital Management LLC now owns 509,054 shares of the biotechnology company’s stock valued at $39,130,000 after buying an additional 67,561 shares during the period. Principal Financial Group Inc. increased its holdings in Mirati Therapeutics by 15.9% during the first quarter. Principal Financial Group Inc. now owns 17,248 shares of the biotechnology company’s stock worth $1,326,000 after buying an additional 2,364 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Mirati Therapeutics by 295.8% in the first quarter. BNP Paribas Arbitrage SA now owns 16,075 shares of the biotechnology company’s stock valued at $1,236,000 after acquiring an additional 12,014 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of Mirati Therapeutics by 3,781.1% during the 4th quarter. Cubist Systematic Strategies LLC now owns 11,100 shares of the biotechnology company’s stock valued at $1,430,000 after acquiring an additional 10,814 shares during the period.
Several equities analysts recently commented on the company. ValuEngine upgraded Mirati Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, March 3rd. Oppenheimer dropped their price target on Mirati Therapeutics from $129.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, March 30th. BidaskClub upgraded Mirati Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. upgraded Mirati Therapeutics from a “neutral” rating to an “overweight” rating and set a $116.00 price objective on the stock in a research note on Friday, May 1st. Finally, Goldman Sachs Group started coverage on shares of Mirati Therapeutics in a report on Thursday, April 16th. They set a “buy” rating and a $151.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Mirati Therapeutics has a consensus rating of “Buy” and a consensus target price of $110.71.
In other Mirati Therapeutics news, major shareholder Ltd. Braslyn sold 600,000 shares of Mirati Therapeutics stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $69.00, for a total transaction of $41,400,000.00. Following the completion of the sale, the insider now owns 2,535,966 shares of the company’s stock, valued at $174,981,654. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Isan Chen sold 33,334 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $105.00, for a total value of $3,500,070.00. Following the completion of the transaction, the executive vice president now owns 72,735 shares of the company’s stock, valued at $7,637,175. The disclosure for this sale can be found here. In the last three months, insiders sold 688,334 shares of company stock valued at $49,908,270. Corporate insiders own 4.10% of the company’s stock.
Shares of NASDAQ:MRTX opened at $114.70 on Wednesday. The firm has a fifty day moving average price of $105.01 and a two-hundred day moving average price of $96.19. The company has a market cap of $4.95 billion, a price-to-earnings ratio of -17.67 and a beta of 1.83. Mirati Therapeutics Inc has a one year low of $66.01 and a one year high of $132.59.
Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($2.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.66) by ($0.36). Mirati Therapeutics had a negative return on equity of 53.25% and a negative net margin of 10,983.84%. The business had revenue of $0.27 million during the quarter, compared to analysts’ expectations of $0.29 million. The company’s revenue was down 78.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Mirati Therapeutics Inc will post -8.7 earnings per share for the current fiscal year.
Mirati Therapeutics Company 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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