Insider Selling: Mirati Therapeutics Inc (MRTX) Director Sells 5,760 Shares of Stock

Mirati Therapeutics Inc (NASDAQ:MRTX) Director Michael G. Grey sold 5,760 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $65.30, for a total value of $376,128.00. Following the sale, the director now owns 7,100 shares in the company, valued at $463,630. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

NASDAQ MRTX traded up $9.27 on Thursday, reaching $72.77. 104,004 shares of the stock traded hands, compared to its average volume of 649,017. The firm has a market cap of $2.29 billion, a P/E ratio of -22.51 and a beta of 1.95. Mirati Therapeutics Inc has a 12 month low of $28.50 and a 12 month high of $80.00.

Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings results on Monday, April 29th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.20). The business had revenue of $1.24 million during the quarter. On average, analysts predict that Mirati Therapeutics Inc will post -5 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC bought a new position in Mirati Therapeutics during the 1st quarter valued at $40,000. Meeder Asset Management Inc. lifted its position in shares of Mirati Therapeutics by 12.9% during the 4th quarter. Meeder Asset Management Inc. now owns 2,087 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 239 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Mirati Therapeutics by 58.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 3,130 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 1,149 shares during the last quarter. Creative Planning acquired a new stake in shares of Mirati Therapeutics during the 1st quarter valued at $231,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Mirati Therapeutics during the 1st quarter valued at $235,000.

A number of equities analysts recently issued reports on MRTX shares. Zacks Investment Research raised Mirati Therapeutics from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Friday, February 22nd. HC Wainwright reissued a “buy” rating on shares of Mirati Therapeutics in a report on Friday, February 15th. Oppenheimer set a $81.00 price objective on Mirati Therapeutics and gave the stock a “buy” rating in a report on Thursday, March 7th. Cowen reissued a “buy” rating on shares of Mirati Therapeutics in a report on Wednesday, March 13th. Finally, BidaskClub lowered Mirati Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $69.08.

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Mirati Therapeutics Company Profile

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 is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.

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