Insider Selling: Mirati Therapeutics, Inc. (NASDAQ:MRTX) Director Sells $113,704.36 in Stock

Mirati Therapeutics, Inc. (NASDAQ:MRTX – Get Rating) Director Julie M. Cherrington sold 2,546 shares of the stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $44.66, for a total transaction of $113,704.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Mirati Therapeutics Price Performance

Shares of Mirati Therapeutics stock opened at $45.66 on Monday. Mirati Therapeutics, Inc. has a fifty-two week low of $32.96 and a fifty-two week high of $124.81. The firm has a fifty day moving average price of $57.58 and a two-hundred day moving average price of $66.75. The company has a market cap of $2.63 billion, a PE ratio of -3.41 and a beta of 1.07.

Mirati Therapeutics (NASDAQ:MRTX – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The biotechnology company reported ($3.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.46) by $0.37. The company had revenue of $5.43 million for the quarter, compared to the consensus estimate of $4.72 million. Mirati Therapeutics had a negative return on equity of 60.40% and a negative net margin of 6,253.81%. Analysts expect that Mirati Therapeutics, Inc. will post -13.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. First Horizon Advisors Inc. bought a new stake in shares of Mirati Therapeutics during the 2nd quarter valued at $25,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Mirati Therapeutics during the 3rd quarter valued at $36,000. Wipfli Financial Advisors LLC bought a new stake in shares of Mirati Therapeutics in the 3rd quarter valued at $42,000. Quadrant Capital Group LLC increased its position in shares of Mirati Therapeutics by 161.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 701 shares of the biotechnology company’s stock valued at $47,000 after buying an additional 433 shares in the last quarter. Finally, Amundi bought a new stake in shares of Mirati Therapeutics in the 2nd quarter valued at $51,000.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. B. Riley began coverage on Mirati Therapeutics in a report on Friday, October 28th. They set a “neutral” rating and a $72.00 price objective on the stock. Citigroup downgraded Mirati Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the stock from $121.00 to $53.00 in a research note on Friday, December 9th. StockNews.com upgraded Mirati Therapeutics to a “sell” rating in a report on Friday, January 13th. Needham & Company LLC assumed coverage on Mirati Therapeutics in a report on Wednesday, December 14th. They set a “hold” rating on the stock. Finally, Barclays decreased their price objective on Mirati Therapeutics from $169.00 to $90.00 in a report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Mirati Therapeutics currently has an average rating of “Hold” and an average price target of $83.20.

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.