Mirati Therapeutics, Inc. (NASDAQ:MRTX) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 1,119,692 shares, a growth of 40.5% from the July 14th total of 797,054 shares. Currently, 4.6% of the company’s stock are short sold. Based on an average daily trading volume, of 269,808 shares, the days-to-cover ratio is presently 4.1 days.

A number of hedge funds and other institutional investors have recently modified their holdings of MRTX. Bank of New York Mellon Corp increased its position in shares of Mirati Therapeutics by 22.9% in the first quarter. Bank of New York Mellon Corp now owns 63,004 shares of the biotechnology company’s stock worth $328,000 after buying an additional 11,753 shares in the last quarter. Trexquant Investment LP increased its position in shares of Mirati Therapeutics by 62.2% in the first quarter. Trexquant Investment LP now owns 42,879 shares of the biotechnology company’s stock worth $223,000 after buying an additional 16,447 shares in the last quarter. Royce & Associates LP acquired a new position in shares of Mirati Therapeutics during the first quarter worth approximately $692,000. Dimensional Fund Advisors LP acquired a new position in shares of Mirati Therapeutics during the first quarter worth approximately $677,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Mirati Therapeutics during the first quarter worth approximately $854,000. 64.38% of the stock is owned by hedge funds and other institutional investors.

MRTX has been the subject of several recent research reports. ValuEngine upgraded Mirati Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Zacks Investment Research cut Mirati Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $4.50 target price on shares of Mirati Therapeutics in a research report on Monday, June 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Mirati Therapeutics currently has an average rating of “Hold” and an average price target of $7.63.

Shares of Mirati Therapeutics (MRTX) opened at 4.775 on Friday. The firm’s market cap is $119.23 million. Mirati Therapeutics has a 12 month low of $2.70 and a 12 month high of $7.22. The stock’s 50 day moving average price is $4.32 and its 200 day moving average price is $4.52.

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