Arizona State Retirement System Increases Stake in Mirati Therapeutics, Inc. (NASDAQ:MRTX)

Arizona State Retirement System increased its position in Mirati Therapeutics, Inc. (NASDAQ:MRTXGet Rating) by 7.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,448 shares of the biotechnology company’s stock after acquiring an additional 722 shares during the quarter. Arizona State Retirement System’s holdings in Mirati Therapeutics were worth $859,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Mirati Therapeutics by 13.1% during the 4th quarter. State Street Corp now owns 1,035,464 shares of the biotechnology company’s stock valued at $151,892,000 after buying an additional 119,851 shares in the last quarter. Geode Capital Management LLC grew its holdings in Mirati Therapeutics by 9.8% during the 4th quarter. Geode Capital Management LLC now owns 615,953 shares of the biotechnology company’s stock valued at $90,354,000 after buying an additional 55,104 shares in the last quarter. Candriam Luxembourg S.C.A. grew its holdings in Mirati Therapeutics by 28.5% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 492,483 shares of the biotechnology company’s stock valued at $72,242,000 after buying an additional 109,264 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Mirati Therapeutics during the 4th quarter valued at about $70,388,000. Finally, Suvretta Capital Management LLC grew its holdings in Mirati Therapeutics by 110.5% during the 4th quarter. Suvretta Capital Management LLC now owns 402,789 shares of the biotechnology company’s stock valued at $59,085,000 after buying an additional 211,481 shares in the last quarter.

Mirati Therapeutics Stock Performance

Shares of MRTX stock opened at $70.05 on Wednesday. Mirati Therapeutics, Inc. has a fifty-two week low of $32.96 and a fifty-two week high of $195.99. The stock has a 50 day moving average price of $60.14 and a two-hundred day moving average price of $76.66. The company has a market capitalization of $3.89 billion, a P/E ratio of -5.89 and a beta of 1.00.

Mirati Therapeutics (NASDAQ:MRTXGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported ($3.40) earnings per share for the quarter, missing the consensus estimate of ($3.37) by ($0.03). The business had revenue of $0.71 million during the quarter, compared to analysts’ expectations of $0.18 million. During the same period in the prior year, the firm earned ($2.67) EPS. The business’s revenue was up 6990.0% on a year-over-year basis. As a group, equities analysts predict that Mirati Therapeutics, Inc. will post -14.37 earnings per share for the current year.

Insider Buying and Selling at Mirati Therapeutics

In other news, EVP Jamie Christensen sold 624 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $63.54, for a total transaction of $39,648.96. Following the transaction, the executive vice president now directly owns 86,804 shares of the company’s stock, valued at $5,515,526.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Guggenheim upgraded Mirati Therapeutics from a “neutral” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Friday, May 20th. The Goldman Sachs Group dropped their price target on Mirati Therapeutics from $216.00 to $188.00 and set a “buy” rating for the company in a research report on Tuesday, June 7th. Citigroup dropped their price target on Mirati Therapeutics from $208.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, July 7th. StockNews.com upgraded Mirati Therapeutics to a “sell” rating in a research report on Thursday, May 12th. Finally, Stifel Nicolaus lifted their price target on Mirati Therapeutics from $105.00 to $111.00 in a research report on Tuesday, June 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.64.

Mirati Therapeutics Company Profile

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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 develops MRTX849, a KRAS G12C inhibitor, which is in Phase 1/2 clinical trial for treating non-small cell lung (NSCL), colorectal, pancreatic, and other cancers; and Sitravatinib, an investigational spectrum-selective kinase inhibitor that is in Phase 3 clinical trial for the treatment of NSCL cancer, as well as a KRAS G12D inhibitor program, which is in preclinical development.

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

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