Mirati Therapeutics (NASDAQ:MRTX) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Other analysts also recently issued research reports about the company. Zacks Investment Research raised Mirati Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Oppenheimer reissued a “buy” rating and set a $18.00 target price on shares of Mirati Therapeutics in a research note on Wednesday, November 22nd. SunTrust Banks reissued a “buy” rating and set a $13.00 target price on shares of Mirati Therapeutics in a research note on Thursday, October 12th. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Mirati Therapeutics in a research note on Thursday, October 12th. Finally, Leerink Swann raised Mirati Therapeutics from a “market perform” rating to an “outperform” rating and set a $9.00 target price on the stock in a research note on Tuesday, November 14th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $14.75.
Shares of Mirati Therapeutics (NASDAQ:MRTX) traded down $0.35 on Friday, reaching $26.25. The company had a trading volume of 324,156 shares, compared to its average volume of 430,962. The company has a market cap of $708.58, a P/E ratio of -8.44 and a beta of 2.10. Mirati Therapeutics has a 52 week low of $2.70 and a 52 week high of $28.00.
In other news, major shareholder Venbio Select Advisor Llc acquired 650,000 shares of Mirati Therapeutics stock in a transaction on Thursday, November 16th. The shares were acquired at an average price of $13.00 per share, with a total value of $8,450,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jamie Christensen sold 12,500 shares of Mirati Therapeutics stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $26.11, for a total value of $326,375.00. Following the completion of the sale, the senior vice president now directly owns 15,377 shares in the company, valued at approximately $401,493.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,314 shares of company stock worth $1,141,831. Corporate insiders own 5.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Sabby Management LLC increased its stake in Mirati Therapeutics by 2.1% in the 2nd quarter. Sabby Management LLC now owns 255,100 shares of the biotechnology company’s stock worth $921,000 after acquiring an additional 5,365 shares during the last quarter. Susquehanna International Group LLP increased its position in shares of Mirati Therapeutics by 46.5% during the 2nd quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock valued at $184,000 after purchasing an additional 16,030 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Mirati Therapeutics during the 3rd quarter valued at approximately $268,000. OxFORD Asset Management LLP bought a new position in shares of Mirati Therapeutics during the 3rd quarter valued at approximately $365,000. Finally, SG Americas Securities LLC bought a new position in shares of Mirati Therapeutics during the 4th quarter valued at approximately $829,000. 64.31% of the stock is currently owned by institutional investors and hedge funds.
About Mirati Therapeutics
Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The companys 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.
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