RTW Investments LP Invests $1.64 Million in Mirati Therapeutics Inc (MRTX) Stock

RTW Investments LP purchased a new position in Mirati Therapeutics Inc (NASDAQ:MRTX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 38,765 shares of the biotechnology company’s stock, valued at approximately $1,644,000. RTW Investments LP owned about 0.11% of Mirati Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Mirati Therapeutics by 7.4% in the third quarter. FMR LLC now owns 2,132,689 shares of the biotechnology company’s stock worth $100,450,000 after purchasing an additional 146,374 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Mirati Therapeutics by 30.0% during the fourth quarter. BlackRock Inc. now owns 2,052,949 shares of the biotechnology company’s stock worth $87,086,000 after buying an additional 474,097 shares during the period. Vanguard Group Inc. lifted its stake in shares of Mirati Therapeutics by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,431,905 shares of the biotechnology company’s stock worth $67,443,000 after buying an additional 26,316 shares during the period. Vanguard Group Inc lifted its stake in shares of Mirati Therapeutics by 1.9% during the third quarter. Vanguard Group Inc now owns 1,431,905 shares of the biotechnology company’s stock worth $67,443,000 after buying an additional 26,316 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Mirati Therapeutics by 21.8% during the fourth quarter. Jennison Associates LLC now owns 1,216,464 shares of the biotechnology company’s stock worth $51,602,000 after buying an additional 217,960 shares during the period.

Several research firms have recently commented on MRTX. Svb Leerink reiterated an “outperform” rating on shares of Mirati Therapeutics in a research note on Friday, February 15th. Credit Suisse Group began coverage on shares of Mirati Therapeutics in a research note on Monday. They set an “outperform” rating and a $85.00 price objective for the company. BidaskClub upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, December 7th. Zacks Investment Research upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Friday, February 22nd. Finally, Oppenheimer reiterated a “buy” rating on shares of Mirati Therapeutics in a research note on Tuesday, March 19th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $68.82.



In related news, major shareholder Venbio Select Advisor Llc sold 125,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $76.55, for a total transaction of $9,568,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Boxer Capital, Llc sold 425,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $69.00, for a total transaction of $29,325,000.00. The disclosure for this sale can be found here. Insiders have sold 1,999,911 shares of company stock valued at $131,856,770 over the last 90 days. 4.86% of the stock is currently owned by insiders.

NASDAQ MRTX traded up $0.72 on Monday, reaching $73.95. 5,693 shares of the company’s stock traded hands, compared to its average volume of 715,257. The company has a market capitalization of $2.58 billion, a PE ratio of -23.10 and a beta of 2.12. Mirati Therapeutics Inc has a fifty-two week low of $24.65 and a fifty-two week high of $80.00.

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Mirati Therapeutics Profile

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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Institutional Ownership by Quarter for Mirati Therapeutics (NASDAQ:MRTX)

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