Mirati Therapeutics Inc (NASDAQ:MRTX) shares hit a new 52-week high and low during trading on Thursday . The company traded as low as $50.75 and last traded at $49.32, with a volume of 21504 shares trading hands. The stock had previously closed at $48.10.
A number of research analysts have recently commented on MRTX shares. Zacks Investment Research cut Mirati Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, March 15th. SunTrust Banks upped their price target on Mirati Therapeutics to $40.00 and gave the company a “buy” rating in a research report on Friday, March 9th. BidaskClub cut Mirati Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 29th. Citigroup increased their price objective on Mirati Therapeutics from $23.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, March 5th. Finally, Barclays assumed coverage on Mirati Therapeutics in a report on Monday, March 12th. They set an “overweight” rating and a $44.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.44.
The firm has a market capitalization of $1.33 billion, a PE ratio of -17.77 and a beta of 2.22.
In other Mirati Therapeutics news, major shareholder Boxer Capital, Llc acquired 193,050 shares of the company’s stock in a transaction on Thursday, June 7th. The stock was acquired at an average price of $38.85 per share, for a total transaction of $7,499,992.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Venbio Select Advisor Llc acquired 400,000 shares of the company’s stock in a transaction on Monday, June 11th. The stock was acquired at an average price of $38.85 per share, with a total value of $15,540,000.00. The disclosure for this purchase can be found here. Company insiders own 4.86% of the company’s stock.
A number of large investors have recently made changes to their positions in MRTX. Point72 Asset Management L.P. raised its stake in Mirati Therapeutics by 404.2% during the first quarter. Point72 Asset Management L.P. now owns 407,929 shares of the biotechnology company’s stock valued at $12,523,000 after buying an additional 327,030 shares during the last quarter. PointState Capital LP bought a new stake in shares of Mirati Therapeutics in the 1st quarter worth $9,164,000. Farallon Capital Management LLC bought a new stake in shares of Mirati Therapeutics in the 1st quarter worth $8,289,000. BlackRock Inc. increased its holdings in shares of Mirati Therapeutics by 57.5% in the 4th quarter. BlackRock Inc. now owns 510,362 shares of the biotechnology company’s stock worth $9,314,000 after purchasing an additional 186,419 shares in the last quarter. Finally, Rock Springs Capital Management LP bought a new stake in shares of Mirati Therapeutics in the 4th quarter worth $3,285,000. Institutional investors and hedge funds own 84.77% of the company’s stock.
About Mirati Therapeutics
Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.
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