Mirati Therapeutics, Inc. (NASDAQ:MRTX) Stock Holdings Boosted by Profund Advisors LLC

Profund Advisors LLC raised its position in shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) by 23.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,834 shares of the biotechnology company’s stock after purchasing an additional 7,307 shares during the quarter. Profund Advisors LLC owned about 0.07% of Mirati Therapeutics worth $1,403,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of Mirati Therapeutics by 1,803.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,447,460 shares of the biotechnology company’s stock worth $164,298,000 after acquiring an additional 2,318,853 shares in the last quarter. Morgan Stanley boosted its stake in shares of Mirati Therapeutics by 71.2% during the 4th quarter. Morgan Stanley now owns 1,689,711 shares of the biotechnology company’s stock worth $76,561,000 after acquiring an additional 702,556 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Mirati Therapeutics by 639.9% during the 4th quarter. Point72 Asset Management L.P. now owns 753,600 shares of the biotechnology company’s stock worth $34,146,000 after acquiring an additional 651,753 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Mirati Therapeutics by 21.6% during the 1st quarter. BlackRock Inc. now owns 3,236,879 shares of the biotechnology company’s stock worth $120,347,000 after acquiring an additional 573,957 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Mirati Therapeutics by 216.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 808,820 shares of the biotechnology company’s stock worth $29,223,000 after acquiring an additional 552,860 shares in the last quarter.

Insider Buying and Selling

In other Mirati Therapeutics news, EVP Jamie Christensen sold 2,388 shares of Mirati Therapeutics stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $35.63, for a total transaction of $85,084.44. Following the sale, the executive vice president now directly owns 144,032 shares of the company’s stock, valued at $5,131,860.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.47% of the stock is owned by company insiders.

Mirati Therapeutics Stock Performance

Shares of NASDAQ:MRTX opened at $56.50 on Tuesday. The company has a market cap of $3.96 billion, a P/E ratio of -4.62 and a beta of 0.72. The stock’s 50-day moving average is $50.21 and its 200-day moving average is $42.18. Mirati Therapeutics, Inc. has a 52-week low of $27.30 and a 52-week high of $101.30.

Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($2.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.83) by $0.34. Mirati Therapeutics had a negative return on equity of 82.15% and a negative net margin of 1,900.65%. The company had revenue of $16.40 million for the quarter, compared to the consensus estimate of $18.80 million. During the same period last year, the business posted ($3.09) earnings per share. The firm’s revenue was up 203.7% compared to the same quarter last year. As a group, equities analysts predict that Mirati Therapeutics, Inc. will post -11.7 EPS for the current year.

Analysts Set New Price Targets

MRTX has been the subject of several research reports. Citigroup raised Mirati Therapeutics from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $51.00 to $48.00 in a research note on Thursday, August 10th. BMO Capital Markets raised their target price on Mirati Therapeutics from $31.00 to $72.00 and gave the stock a “market perform” rating in a research report on Friday, October 6th. Jefferies Financial Group cut Mirati Therapeutics from a “buy” rating to a “hold” rating and raised their target price for the stock from $55.00 to $58.00 in a research report on Monday, October 9th. JMP Securities lowered Mirati Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, October 9th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $59.00 price objective (down from $83.00) on shares of Mirati Therapeutics in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Mirati Therapeutics has an average rating of “Hold” and an average price target of $59.60.

Mirati Therapeutics Profile

Mirati Therapeutics, Inc, a commercial-stage oncology company, develops novel therapeutics to address the genetic and immunological promoters of cancer in the United States. The company provides KRAZATI, an oral targeted treatment option for adult patients with KRAS G12C-mutated locally advanced or metastatic non-small cell lung (NSCLC), as well as in clinical development as a monotherapy and in combination with other agents.