Sigma Planning Corp Purchases New Shares in Mirati Therapeutics Inc (NASDAQ:MRTX)

Sigma Planning Corp purchased a new stake in Mirati Therapeutics Inc (NASDAQ:MRTX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,950 shares of the biotechnology company’s stock, valued at approximately $201,000.

Several other hedge funds have also added to or reduced their stakes in MRTX. TD Asset Management Inc. grew its position in Mirati Therapeutics by 39.8% in the 2nd quarter. TD Asset Management Inc. now owns 27,400 shares of the biotechnology company’s stock valued at $2,822,000 after purchasing an additional 7,800 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in Mirati Therapeutics in the 2nd quarter valued at $427,000. Aperio Group LLC acquired a new stake in Mirati Therapeutics in the 2nd quarter valued at $50,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Mirati Therapeutics by 19.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,422 shares of the biotechnology company’s stock valued at $146,000 after purchasing an additional 235 shares during the period. Finally, SG Americas Securities LLC grew its position in Mirati Therapeutics by 513.9% in the 2nd quarter. SG Americas Securities LLC now owns 25,907 shares of the biotechnology company’s stock valued at $2,668,000 after purchasing an additional 21,687 shares during the period. Institutional investors and hedge funds own 97.93% of the company’s stock.

MRTX has been the subject of several research reports. Cowen reissued a “buy” rating on shares of Mirati Therapeutics in a research report on Tuesday, August 6th. Guggenheim downgraded shares of Mirati Therapeutics from a “buy” rating to a “neutral” rating and set a $95.56 price target for the company. in a research report on Friday, June 7th. B. Riley downgraded shares of Mirati Therapeutics from a “buy” rating to a “neutral” rating and lifted their price target for the company from $60.00 to $92.00 in a research report on Wednesday, June 19th. Cantor Fitzgerald lifted their price target on shares of Mirati Therapeutics from $66.00 to $85.00 and gave the company a “positive” rating in a research report on Tuesday, June 4th. Finally, SunTrust Banks lifted their price target on shares of Mirati Therapeutics to $120.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $95.16.

In other Mirati Therapeutics news, CEO Charles M. Baum sold 51,810 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $86.22, for a total transaction of $4,467,058.20. Following the transaction, the chief executive officer now directly owns 117,851 shares in the company, valued at approximately $10,161,113.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael G. Grey sold 3,042 shares of Mirati Therapeutics stock in a transaction on Monday, August 12th. The stock was sold at an average price of $92.27, for a total value of $280,685.34. Following the sale, the director now owns 4,840 shares in the company, valued at $446,586.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 845,360 shares of company stock worth $82,651,250. Company insiders own 4.86% of the company’s stock.

Shares of NASDAQ:MRTX opened at $83.35 on Friday. The stock’s fifty day simple moving average is $98.98 and its two-hundred day simple moving average is $82.38. Mirati Therapeutics Inc has a 1-year low of $28.50 and a 1-year high of $111.99. The stock has a market cap of $3.28 billion, a PE ratio of -26.13 and a beta of 1.99.

Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($1.18) by ($0.08). The business had revenue of $0.58 million during the quarter. Equities research analysts forecast that Mirati Therapeutics Inc will post -5.04 earnings per share for the current year.

Mirati Therapeutics Profile

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 is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.

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

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