Teachers Retirement System of The State of Kentucky lessened its position in shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) by 14.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,293 shares of the biotechnology company’s stock after selling 6,513 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Mirati Therapeutics were worth $8,191,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in shares of Mirati Therapeutics during the 4th quarter worth approximately $61,000. Exchange Traded Concepts LLC purchased a new stake in Mirati Therapeutics during the 4th quarter worth approximately $82,000. Public Employees Retirement System of Ohio purchased a new stake in Mirati Therapeutics during the 4th quarter worth approximately $125,000. Great West Life Assurance Co. Can grew its position in Mirati Therapeutics by 145.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 5,200 shares of the biotechnology company’s stock worth $143,000 after purchasing an additional 3,083 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Mirati Therapeutics during the 4th quarter worth approximately $190,000. Hedge funds and other institutional investors own 94.92% of the company’s stock.
In other news, Director Bruce L. A. Carter sold 2,250 shares of the stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $177.11, for a total value of $398,497.50. Following the completion of the sale, the director now directly owns 5,725 shares in the company, valued at $1,013,954.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Craig A. Johnson sold 15,000 shares of the stock in a transaction dated Thursday, January 21st. The shares were sold at an average price of $211.55, for a total transaction of $3,173,250.00. Following the completion of the sale, the director now owns 18,475 shares of the company’s stock, valued at $3,908,386.25. The disclosure for this sale can be found here. Insiders sold 442,685 shares of company stock valued at $81,033,986 over the last quarter. Company insiders own 4.10% of the company’s stock.
Several analysts have weighed in on MRTX shares. Credit Suisse Group boosted their target price on shares of Mirati Therapeutics from $225.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 16th. Oppenheimer dropped their target price on shares of Mirati Therapeutics from $260.00 to $255.00 and set an “outperform” rating on the stock in a research report on Monday, March 8th. Finally, HC Wainwright dropped their price objective on shares of Mirati Therapeutics from $257.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, March 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $218.57.
Shares of NASDAQ MRTX opened at $169.00 on Thursday. The firm has a 50-day simple moving average of $187.00 and a 200-day simple moving average of $204.03. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of -21.95 and a beta of 1.64. Mirati Therapeutics, Inc. has a 52 week low of $77.21 and a 52 week high of $249.42.
Mirati Therapeutics (NASDAQ:MRTX) last issued its earnings results on Thursday, February 25th. The biotechnology company reported ($2.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.23) by $0.15. The business had revenue of $1.71 million during the quarter, compared to analyst estimates of $1.00 million. Equities research analysts expect that Mirati Therapeutics, Inc. will post -8.21 earnings per share for the current fiscal year.
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 develops MRTX849, a KRAS G12C inhibitor, which is in Phase I/II 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 II 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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