Mirati Therapeutics, Inc. (NASDAQ:MRTX) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,693,388 shares, an increase of 48.5% from the January 12th total of 1,140,675 shares. Approximately 7.3% of the shares of the company are short sold. Based on an average daily volume of 473,771 shares, the short-interest ratio is currently 3.6 days.
In other Mirati Therapeutics news, SVP Jamie Christensen sold 10,275 shares of the 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 completion of the sale, the senior vice president now directly owns 12,670 shares of the company’s stock, valued at approximately $228,060. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Venbio Select Advisor Llc purchased 650,000 shares of Mirati Therapeutics stock in a transaction on Thursday, November 16th. The stock was bought at an average cost of $13.00 per share, with a total value of $8,450,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 71,314 shares of company stock valued at $1,831,831. Insiders own 5.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Broadfin Capital LLC lifted its holdings in shares of Mirati Therapeutics by 19.1% during the 2nd quarter. Broadfin Capital LLC now owns 2,490,801 shares of the biotechnology company’s stock worth $9,091,000 after acquiring an additional 400,000 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Mirati Therapeutics by 68.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 336,667 shares of the biotechnology company’s stock worth $3,939,000 after acquiring an additional 137,104 shares during the period. Citadel Advisors LLC bought a new position in shares of Mirati Therapeutics during the 3rd quarter worth about $268,000. Jane Street Group LLC bought a new position in shares of Mirati Therapeutics during the 3rd quarter worth about $668,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Mirati Therapeutics by 845.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 98,251 shares of the biotechnology company’s stock worth $359,000 after acquiring an additional 87,858 shares during the period. 66.29% of the stock is owned by institutional investors.
Mirati Therapeutics (MRTX) opened at $27.10 on Friday. The company has a market cap of $723.43, a PE ratio of -8.71 and a beta of 2.10. Mirati Therapeutics has a 1-year low of $2.70 and a 1-year high of $30.50.
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Mirati Therapeutics Company Profile
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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