Bank of New York Mellon Corp cut its stake in Mirati Therapeutics Inc (NASDAQ:MRTX) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,316 shares of the biotechnology company’s stock after selling 2,822 shares during the quarter. Bank of New York Mellon Corp owned 0.33% of Mirati Therapeutics worth $5,054,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in shares of Mirati Therapeutics by 54.9% in the third quarter. Janus Henderson Group PLC now owns 1,025,767 shares of the biotechnology company’s stock worth $48,314,000 after purchasing an additional 363,728 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Mirati Therapeutics by 62.4% in the third quarter. Jennison Associates LLC now owns 998,504 shares of the biotechnology company’s stock worth $47,030,000 after purchasing an additional 383,785 shares during the last quarter. Candriam Luxembourg S.C.A. raised its stake in shares of Mirati Therapeutics by 107.1% in the third quarter. Candriam Luxembourg S.C.A. now owns 192,000 shares of the biotechnology company’s stock worth $9,043,000 after purchasing an additional 99,300 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Mirati Therapeutics in the third quarter worth approximately $260,000. Finally, Wells Fargo & Company MN raised its stake in shares of Mirati Therapeutics by 2,414.9% in the third quarter. Wells Fargo & Company MN now owns 262,881 shares of the biotechnology company’s stock worth $12,382,000 after purchasing an additional 252,428 shares during the last quarter. 97.86% of the stock is owned by hedge funds and other institutional investors.
In other Mirati Therapeutics news, major shareholder Boxer Capital, Llc bought 150,000 shares of Mirati Therapeutics stock in a transaction dated Thursday, January 17th. The stock was bought at an average cost of $62.00 per share, with a total value of $9,300,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aaron I. Davis sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $47.68, for a total value of $2,384,000.00. Following the completion of the transaction, the director now directly owns 70,409 shares of the company’s stock, valued at $3,357,101.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 617,000 shares of company stock valued at $32,083,820. 4.86% of the stock is currently owned by corporate insiders.
Several analysts have recently commented on MRTX shares. HC Wainwright reissued a “buy” rating and issued a $65.00 price objective on shares of Mirati Therapeutics in a research note on Monday, November 12th. Oppenheimer set a $57.00 target price on Mirati Therapeutics and gave the company a “buy” rating in a report on Sunday, November 11th. BidaskClub raised Mirati Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, November 8th. reaffirmed a “buy” rating and issued a $57.00 target price (down from $62.00) on shares of Mirati Therapeutics in a report on Tuesday, November 6th. Finally, Guggenheim raised Mirati Therapeutics from a “neutral” rating to a “buy” rating in a report on Monday, October 29th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $55.78.
MRTX stock opened at $72.19 on Thursday. The company has a market capitalization of $2.46 billion, a PE ratio of -25.97 and a beta of 2.14. Mirati Therapeutics Inc has a 12-month low of $24.65 and a 12-month high of $73.74.
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About Mirati Therapeutics
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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