Pitcairn Co. bought a new position in Mirati Therapeutics Inc (NASDAQ:MRTX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,160 shares of the biotechnology company’s stock, valued at approximately $247,000.
Other large investors have also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. bought a new stake in Mirati Therapeutics in the 1st quarter worth approximately $28,000. Column Capital Advisors LLC lifted its position in Mirati Therapeutics by 27.4% in the 1st quarter. Column Capital Advisors LLC now owns 1,073 shares of the biotechnology company’s stock worth $82,000 after buying an additional 231 shares during the last quarter. First Mercantile Trust Co. lifted its position in Mirati Therapeutics by 18.4% in the 1st quarter. First Mercantile Trust Co. now owns 1,205 shares of the biotechnology company’s stock worth $93,000 after buying an additional 187 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Mirati Therapeutics in the 1st quarter worth approximately $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Mirati Therapeutics by 9.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,115 shares of the biotechnology company’s stock worth $163,000 after buying an additional 182 shares during the last quarter.
A number of analysts recently weighed in on the company. Goldman Sachs Group assumed coverage on Mirati Therapeutics in a research report on Thursday, April 16th. They issued a “buy” rating and a $151.00 target price for the company. BidaskClub upgraded Mirati Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Credit Suisse Group boosted their price objective on Mirati Therapeutics from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded Mirati Therapeutics from a “neutral” rating to an “overweight” rating and set a $116.00 price objective for the company in a research report on Friday, May 1st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Mirati Therapeutics presently has a consensus rating of “Buy” and an average target price of $113.83.
In related news, EVP Isan Chen sold 33,334 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $105.00, for a total value of $3,500,070.00. Following the sale, the executive vice president now directly owns 72,735 shares of the company’s stock, valued at $7,637,175. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Ltd. Braslyn sold 600,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $69.00, for a total value of $41,400,000.00. Following the completion of the sale, the insider now directly owns 2,535,966 shares in the company, valued at $174,981,654. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.
Shares of Mirati Therapeutics stock opened at $121.31 on Friday. The business has a 50 day moving average of $115.72 and a 200 day moving average of $96.51. Mirati Therapeutics Inc has a 52 week low of $66.01 and a 52 week high of $132.59.
Mirati Therapeutics (NASDAQ:MRTX) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($2.02) EPS for the quarter, missing analysts’ consensus estimates of ($1.66) by ($0.36). The business had revenue of $0.27 million for the quarter, compared to the consensus estimate of $0.29 million. Mirati Therapeutics had a negative net margin of 10,983.84% and a negative return on equity of 53.25%. The business’s revenue was down 78.5% compared to the same quarter last year. On average, equities analysts predict that Mirati Therapeutics Inc will post -8.7 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 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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