Vanguard Group Inc. trimmed its holdings in shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 651,417 shares of the biotechnology company’s stock after selling 33,698 shares during the period. Vanguard Group Inc. owned about 2.61% of Mirati Therapeutics worth $2,377,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in MRTX. Renaissance Technologies LLC acquired a new position in Mirati Therapeutics during the first quarter valued at approximately $854,000. Dimensional Fund Advisors LP acquired a new position in Mirati Therapeutics during the first quarter valued at approximately $677,000. Royce & Associates LP lifted its position in Mirati Therapeutics by 88.7% during the second quarter. Royce & Associates LP now owns 251,100 shares of the biotechnology company’s stock valued at $917,000 after buying an additional 118,063 shares in the last quarter. Hikari Power Ltd acquired a new position in Mirati Therapeutics during the second quarter valued at approximately $365,000. Finally, LMR Partners LLP acquired a new position in Mirati Therapeutics during the second quarter valued at approximately $236,000. 64.73% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mirati Therapeutics, Inc. (NASDAQ MRTX) opened at $15.90 on Thursday. Mirati Therapeutics, Inc. has a 12 month low of $2.70 and a 12 month high of $19.25.
A number of brokerages have weighed in on MRTX. ValuEngine raised shares of Mirati Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, November 16th. Oppenheimer reaffirmed a “buy” rating and set a $18.00 price target on shares of Mirati Therapeutics in a research report on Wednesday, November 22nd. Leerink Swann upgraded shares of Mirati Therapeutics from a “market perform” rating to an “outperform” rating and set a $9.00 price objective on the stock in a research note on Tuesday, November 14th. HC Wainwright reiterated a “buy” rating and set a $17.00 price objective (down previously from $20.00) on shares of Mirati Therapeutics in a research note on Tuesday, November 14th. Finally, Zacks Investment Research lowered shares of Mirati Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Mirati Therapeutics has a consensus rating of “Buy” and an average target price of $13.71.
In related news, SVP Jamie Christensen sold 7,499 shares of Mirati Therapeutics stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $14.00, for a total value of $104,986.00. Following the completion of the sale, the senior vice president now owns 10,169 shares in the company, valued at $142,366. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Venbio Select Advisor Llc purchased 650,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average price of $13.00 per share, with a total value of $8,450,000.00. The disclosure for this purchase can be found here. Insiders have sold 23,544 shares of company stock worth $365,826 in the last quarter. Insiders own 5.10% of the company’s stock.
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Mirati Therapeutics Profile
Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The companys clinical stage product candidates include glesatinib, an orally-bioavailable, potent, small molecule kinase inhibitor that is in Phase II clinical trials for the treatment of non-small cell lung cancer (NSCLC) patients with genetic alterations of MET; and in Phase Ib clinical trials in patients with genetic alterations of MET and Axl in NSCLC and other solid tumors.
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