Mirati Therapeutics, Inc. (NASDAQ:MRTX) was the target of a large increase in short interest in December. As of December 29th, there was short interest totalling 1,307,999 shares, an increase of 31.9% from the December 15th total of 991,526 shares. Approximately 5.6% of the company’s stock are sold short. Based on an average trading volume of 301,198 shares, the short-interest ratio is currently 4.3 days.

MRTX has been the topic of several recent analyst reports. Oppenheimer began coverage on Mirati Therapeutics in a research note on Monday, September 18th. They set an “outperform” rating and a $18.00 price objective on the stock. Zacks Investment Research cut Mirati Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. SunTrust Banks reiterated a “buy” rating and set a $13.00 target price on shares of Mirati Therapeutics in a research note on Monday, October 2nd. Cowen began coverage on Mirati Therapeutics in a research note on Thursday, December 21st. They set an “outperform” rating on the stock. Finally, Cann reiterated a “buy” rating and set a $18.00 target price on shares of Mirati Therapeutics in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.75.

In related news, major shareholder Venbio Select Advisor Llc acquired 650,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were acquired at an average cost of $13.00 per share, for a total transaction of $8,450,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jamie Christensen sold 10,275 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $18.00, for a total value of $184,950.00. Following the transaction, the senior vice president now owns 12,670 shares in the company, valued at $228,060. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,499 shares of company stock worth $628,464. Company insiders own 5.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new stake in Mirati Therapeutics in the 3rd quarter valued at about $268,000. OxFORD Asset Management LLP bought a new stake in Mirati Therapeutics in the 3rd quarter valued at about $365,000. Susquehanna International Group LLP raised its stake in Mirati Therapeutics by 46.5% in the 2nd quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock valued at $184,000 after acquiring an additional 16,030 shares during the period. PDT Partners LLC bought a new stake in Mirati Therapeutics in the 2nd quarter valued at about $200,000. Finally, Jane Street Group LLC bought a new stake in Mirati Therapeutics in the 3rd quarter valued at about $668,000. Institutional investors and hedge funds own 64.68% of the company’s stock.

Shares of Mirati Therapeutics (NASDAQ:MRTX) opened at $24.75 on Friday. The company has a market capitalization of $626.25, a price-to-earnings ratio of -7.96 and a beta of 1.61. Mirati Therapeutics has a 52 week low of $2.70 and a 52 week high of $25.20.

Mirati Therapeutics (NASDAQ:MRTX) last released its earnings results on Wednesday, November 1st. The biotechnology company reported ($0.65) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.16. equities analysts expect that Mirati Therapeutics will post -2.73 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Short Interest in Mirati Therapeutics, Inc. (MRTX) Grows By 31.9%” was first posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/14/short-interest-in-mirati-therapeutics-inc-mrtx-grows-by-31-9.html.

About Mirati Therapeutics

Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The company’s clinical stage product candidates include glesatinib, an orally-bioavailable, potent, small molecule kinase inhibitor that is in Phase II clinical trials for the treatment of non-small cell lung cancer (NSCLC) patients with genetic alterations of MET; and in Phase Ib clinical trials in patients with genetic alterations of MET and Axl in NSCLC and other solid tumors.

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.