Marshall Wace North America L.P. trimmed its position in shares of Mirati Therapeutics Inc (NASDAQ:MRTX) by 59.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 323,793 shares of the biotechnology company’s stock after selling 480,983 shares during the period. Marshall Wace North America L.P. owned 1.00% of Mirati Therapeutics worth $15,251,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of MRTX. Legal & General Group Plc bought a new position in Mirati Therapeutics during the second quarter worth $150,000. Pacer Advisors Inc. bought a new position in Mirati Therapeutics during the third quarter worth $176,000. Quantitative Systematic Strategies LLC bought a new position in Mirati Therapeutics during the second quarter worth $214,000. Renaissance Technologies LLC bought a new position in Mirati Therapeutics during the second quarter worth $227,000. Finally, GAM Holding AG bought a new position in Mirati Therapeutics during the third quarter worth $236,000.
A number of equities analysts have commented on MRTX shares. Cowen reaffirmed a “buy” rating on shares of Mirati Therapeutics in a research report on Monday, October 22nd. Oppenheimer set a $57.00 price objective on shares of Mirati Therapeutics and gave the stock a “buy” rating in a research report on Sunday, November 11th. Zacks Investment Research raised shares of Mirati Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Guggenheim raised shares of Mirati Therapeutics from a “neutral” rating to a “buy” rating in a research report on Monday, October 29th. Finally, BidaskClub cut shares of Mirati Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $55.50.
MRTX stock opened at $39.12 on Friday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -14.07 and a beta of 1.86. Mirati Therapeutics Inc has a one year low of $15.35 and a one year high of $65.35.
Mirati Therapeutics (NASDAQ:MRTX) last announced its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.85) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.87) by $0.02. On average, equities analysts predict that Mirati Therapeutics Inc will post -3.12 EPS for the current year.
Mirati Therapeutics Profile
Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.
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