Teachers Retirement System of The State of Kentucky Reduces Stock Position in Mirati Therapeutics, Inc. (NASDAQ:MRTX)


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Teachers Retirement System of The State of Kentucky lowered its stake in Mirati Therapeutics, Inc. (NASDAQ:MRTX) by 14.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,293 shares of the biotechnology company’s stock after selling 6,513 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.07% of Mirati Therapeutics worth $8,191,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Squarepoint Ops LLC bought a new position in Mirati Therapeutics in the fourth quarter worth approximately $1,111,000. Alliancebernstein L.P. raised its position in Mirati Therapeutics by 6.4% in the fourth quarter. Alliancebernstein L.P. now owns 78,698 shares of the biotechnology company’s stock worth $17,285,000 after acquiring an additional 4,767 shares during the period. State Board of Administration of Florida Retirement System raised its position in Mirati Therapeutics by 3.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 16,397 shares of the biotechnology company’s stock worth $3,601,000 after acquiring an additional 590 shares during the period. Federated Hermes Inc. raised its position in Mirati Therapeutics by 14.3% in the fourth quarter. Federated Hermes Inc. now owns 241,952 shares of the biotechnology company’s stock worth $53,142,000 after acquiring an additional 30,267 shares during the period. Finally, Darwin Global Management Ltd. bought a new position in Mirati Therapeutics in the fourth quarter worth approximately $57,299,000. Institutional investors own 94.92% of the company’s stock.

In other Mirati Therapeutics news, EVP Benjamin Hickey sold 2,369 shares of Mirati Therapeutics stock in a transaction on Friday, March 19th. The shares were sold at an average price of $176.44, for a total value of $417,986.36. Following the completion of the transaction, the executive vice president now directly owns 29,181 shares of the company’s stock, valued at approximately $5,148,695.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce L. A. Carter sold 2,250 shares of Mirati Therapeutics stock in a transaction on Monday, April 5th. The stock was sold at an average price of $177.11, for a total transaction of $398,497.50. Following the completion of the transaction, the director now directly owns 5,725 shares of the company’s stock, valued at $1,013,954.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 442,685 shares of company stock worth $81,033,986. 4.10% of the stock is currently owned by insiders.

Several research analysts have weighed in on MRTX shares. HC Wainwright decreased their price target on shares of Mirati Therapeutics from $257.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, March 8th. Oppenheimer decreased their price objective on shares of Mirati Therapeutics from $260.00 to $255.00 and set an “outperform” rating on the stock in a research report on Monday, March 8th. Finally, Credit Suisse Group raised their price objective on shares of Mirati Therapeutics from $225.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, December 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $218.57.

Shares of NASDAQ MRTX opened at $169.00 on Thursday. The company has a market cap of $8.56 billion, a P/E ratio of -21.95 and a beta of 1.64. The firm’s fifty day moving average is $187.00 and its two-hundred day moving average is $204.03. Mirati Therapeutics, Inc. has a 52-week low of $77.21 and a 52-week high of $249.42.

Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings results on Thursday, February 25th. The biotechnology company reported ($2.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.23) by $0.15. The company had revenue of $1.71 million during the quarter, compared to the consensus estimate of $1.00 million. As a group, equities analysts anticipate that Mirati Therapeutics, Inc. will post -8.21 earnings per share for the current fiscal year.

About Mirati Therapeutics

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company develops MRTX849, a KRAS G12C inhibitor, which is in Phase I/II clinical trial for treating non-small cell lung (NSCL), colorectal, pancreatic, and other cancers; and Sitravatinib, an investigational spectrum-selective kinase inhibitor that is in Phase II clinical trial for the treatment of NSCL cancer, as well as a KRAS G12D inhibitor program, which is in preclinical development.

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Institutional Ownership by Quarter for Mirati Therapeutics (NASDAQ:MRTX)

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