Mirati Therapeutics (MRTX) Shares Up 6.7%
Mirati Therapeutics, Inc. (NASDAQ:MRTX)’s share price shot up 6.7% during mid-day trading on Monday . The stock traded as high as $25.20 and last traded at $24.75. 955,000 shares changed hands during trading, an increase of 96% from the average session volume of 488,300 shares. The stock had previously closed at $23.20.
Several brokerages have recently issued reports on MRTX. BidaskClub upgraded Mirati Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday. HC Wainwright boosted their price objective on Mirati Therapeutics from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Oppenheimer set a $18.00 price objective on Mirati Therapeutics and gave the stock a “buy” rating in a research report on Monday, January 8th. Cann reiterated a “buy” rating and set a $18.00 price objective on shares of Mirati Therapeutics in a research report on Monday, January 8th. Finally, Cowen began coverage on Mirati Therapeutics in a research report on Thursday, December 21st. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $14.75.
The company has a market capitalization of $668.09, a PE ratio of -7.80 and a beta of 1.61.
In other Mirati Therapeutics news, SVP Jamie Christensen sold 14,725 shares of the company’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $22.99, for a total value of $338,527.75. Following the transaction, the senior vice president now owns 6,395 shares of the company’s stock, valued at $147,021.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Venbio Select Advisor Llc purchased 650,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was bought at an average cost of $13.00 per share, for a total transaction of $8,450,000.00. The disclosure for this purchase can be found here. Insiders sold 32,499 shares of company stock valued at $628,464 over the last 90 days. 5.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC bought a new position in shares of Mirati Therapeutics in the third quarter valued at $268,000. OxFORD Asset Management LLP bought a new position in shares of Mirati Therapeutics in the third quarter valued at $365,000. Susquehanna International Group LLP increased its holdings in shares of Mirati Therapeutics by 46.5% in the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock valued at $184,000 after buying an additional 16,030 shares in the last quarter. PDT Partners LLC bought a new position in shares of Mirati Therapeutics in the second quarter valued at $200,000. Finally, Jane Street Group LLC bought a new position in shares of Mirati Therapeutics in the third quarter valued at $668,000. 64.68% of the stock is currently owned by institutional investors.
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About Mirati Therapeutics
Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The companys clinical stage product candidates include glesatinib, an orally-bioavailable, potent, small molecule kinase inhibitor that is in Phase II clinical trials for the treatment of non-small cell lung cancer (NSCLC) patients with genetic alterations of MET; and in Phase Ib clinical trials in patients with genetic alterations of MET and Axl in NSCLC and other solid tumors.
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