Mirati Therapeutics, Inc. (NASDAQ:MRTX) EVP Sells $90,823.40 in Stock

Mirati Therapeutics, Inc. (NASDAQ:MRTXGet Rating) EVP Jamie Christensen sold 1,949 shares of the business’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $46.60, for a total value of $90,823.40. Following the completion of the sale, the executive vice president now owns 100,123 shares in the company, valued at $4,665,731.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Jamie Christensen also recently made the following trade(s):

  • On Friday, December 2nd, Jamie Christensen sold 1,726 shares of Mirati Therapeutics stock. The shares were sold at an average price of $90.19, for a total value of $155,667.94.

Mirati Therapeutics Trading Down 4.5 %

Mirati Therapeutics stock opened at $44.84 on Friday. Mirati Therapeutics, Inc. has a 12 month low of $32.96 and a 12 month high of $140.64. The stock’s 50 day moving average is $62.05 and its 200-day moving average is $68.56. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -3.35 and a beta of 1.07.

Mirati Therapeutics (NASDAQ:MRTXGet Rating) last posted its earnings results on Tuesday, November 8th. The biotechnology company reported ($3.09) EPS for the quarter, beating the consensus estimate of ($3.46) by $0.37. Mirati Therapeutics had a negative return on equity of 60.40% and a negative net margin of 6,253.81%. The company had revenue of $5.43 million for the quarter, compared to the consensus estimate of $4.72 million. As a group, equities research analysts predict that Mirati Therapeutics, Inc. will post -13.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MRTX. JPMorgan Chase & Co. lowered Mirati Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $94.00 to $65.00 in a report on Thursday, December 8th. Piper Sandler lifted their target price on Mirati Therapeutics from $84.00 to $87.00 in a research report on Tuesday, December 13th. Citigroup downgraded Mirati Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $121.00 to $53.00 in a research report on Friday, December 9th. Oppenheimer lowered their target price on Mirati Therapeutics from $85.00 to $60.00 and set a “market perform” rating on the stock in a research report on Thursday, December 8th. Finally, Morgan Stanley lowered their target price on Mirati Therapeutics from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $83.20.

Institutional Investors Weigh In On Mirati Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Mirati Therapeutics by 4.0% in the third quarter. Vanguard Group Inc. now owns 4,728,299 shares of the biotechnology company’s stock valued at $330,225,000 after buying an additional 180,278 shares during the period. BlackRock Inc. boosted its stake in shares of Mirati Therapeutics by 1.5% in the first quarter. BlackRock Inc. now owns 2,797,638 shares of the biotechnology company’s stock valued at $230,022,000 after buying an additional 40,963 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Mirati Therapeutics by 1,803.1% in the second quarter. Goldman Sachs Group Inc. now owns 2,447,460 shares of the biotechnology company’s stock valued at $164,298,000 after buying an additional 2,318,853 shares during the period. State Street Corp boosted its stake in shares of Mirati Therapeutics by 31.8% in the second quarter. State Street Corp now owns 1,876,615 shares of the biotechnology company’s stock valued at $125,977,000 after buying an additional 453,050 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Mirati Therapeutics by 26.7% in the second quarter. Franklin Resources Inc. now owns 1,458,465 shares of the biotechnology company’s stock valued at $97,907,000 after buying an additional 307,184 shares during the period.

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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