Virtu Financial LLC Takes Position in Mirati Therapeutics Inc (NASDAQ:MRTX)

Virtu Financial LLC acquired a new stake in shares of Mirati Therapeutics Inc (NASDAQ:MRTX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,776 shares of the biotechnology company’s stock, valued at approximately $294,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sigma Planning Corp acquired a new position in shares of Mirati Therapeutics during the second quarter worth $201,000. Candriam Luxembourg S.C.A. raised its position in shares of Mirati Therapeutics by 38.9% during the second quarter. Candriam Luxembourg S.C.A. now owns 157,000 shares of the biotechnology company’s stock worth $16,100,000 after acquiring an additional 44,000 shares during the last quarter. BlackRock Inc. lifted its position in shares of Mirati Therapeutics by 8.6% in the 2nd quarter. BlackRock Inc. now owns 2,536,034 shares of the biotechnology company’s stock worth $261,211,000 after purchasing an additional 199,939 shares during the period. Morgan Stanley boosted its stake in shares of Mirati Therapeutics by 32.7% in the 2nd quarter. Morgan Stanley now owns 17,310 shares of the biotechnology company’s stock valued at $1,783,000 after purchasing an additional 4,266 shares during the last quarter. Finally, Strs Ohio bought a new position in Mirati Therapeutics during the second quarter worth $154,000.

A number of research analysts recently issued reports on MRTX shares. BidaskClub upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday. ValuEngine downgraded Mirati Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday. Citigroup set a $130.00 target price on Mirati Therapeutics and gave the company a “buy” rating in a research report on Wednesday, October 9th. Credit Suisse Group set a $115.00 target price on Mirati Therapeutics and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Jefferies Financial Group upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the stock from $89.00 to $105.00 in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $105.67.

In other news, Director Michael G. Grey sold 3,042 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $102.44, for a total value of $311,622.48. Following the transaction, the director now owns 5,298 shares of the company’s stock, valued at $542,727.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bruce L. A. Carter sold 3,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $94.74, for a total value of $284,220.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at approximately $284,220. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by company insiders.

Shares of NASDAQ MRTX opened at $104.80 on Friday. Mirati Therapeutics Inc has a 52 week low of $34.39 and a 52 week high of $111.99. The business has a 50-day simple moving average of $92.92 and a two-hundred day simple moving average of $91.46. The company has a market cap of $4.16 billion, a P/E ratio of -32.85 and a beta of 2.09.

Mirati Therapeutics (NASDAQ:MRTX) last posted its earnings results on Monday, November 4th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.25) by ($0.13). Mirati Therapeutics had a negative net margin of 2,698.66% and a negative return on equity of 48.60%. The company had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $0.50 million. On average, equities research analysts predict that Mirati Therapeutics Inc will post -5.36 EPS for the current fiscal year.

Mirati Therapeutics Company Profile

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.

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

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