Mirati Therapeutics Inc (MRTX) Director Aaron I. Davis Sells 50,000 Shares

Mirati Therapeutics Inc (NASDAQ:MRTX) Director Aaron I. Davis sold 50,000 shares of the stock in a transaction on Tuesday, January 8th. The shares were sold at an average price of $47.68, for a total transaction of $2,384,000.00. Following the completion of the sale, the director now directly owns 70,409 shares of the company’s stock, valued at $3,357,101.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of MRTX stock opened at $60.79 on Friday. Mirati Therapeutics Inc has a 52-week low of $21.50 and a 52-week high of $65.35. The firm has a market capitalization of $1.46 billion, a PE ratio of -21.87 and a beta of 1.49.

Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.85) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.02. Sell-side analysts forecast that Mirati Therapeutics Inc will post -3.12 earnings per share for the current year.



Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc acquired a new position in shares of Mirati Therapeutics in the 2nd quarter valued at $150,000. Pacer Advisors Inc. acquired a new position in shares of Mirati Therapeutics in the 3rd quarter valued at $176,000. Renaissance Technologies LLC acquired a new position in shares of Mirati Therapeutics in the 2nd quarter valued at $227,000. GAM Holding AG acquired a new position in shares of Mirati Therapeutics in the 3rd quarter valued at $236,000. Finally, United Services Automobile Association acquired a new position in shares of Mirati Therapeutics in the 2nd quarter valued at $250,000.

A number of analysts have weighed in on the stock. BidaskClub downgraded shares of Mirati Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, September 28th. HC Wainwright reissued a “buy” rating and issued a $65.00 price target on shares of Mirati Therapeutics in a report on Monday, November 12th. Zacks Investment Research raised shares of Mirati Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Oppenheimer set a $62.00 price target on shares of Mirati Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 30th. Finally, reissued a “buy” rating and issued a $57.00 price target (down from $62.00) on shares of Mirati Therapeutics in a report on Tuesday, November 6th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Mirati Therapeutics currently has a consensus rating of “Buy” and an average price target of $54.89.

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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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