Aaron I. Davis Sells 50,000 Shares of Mirati Therapeutics Inc (MRTX) Stock

Mirati Therapeutics Inc (NASDAQ:MRTX) Director Aaron I. Davis sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $47.68, for a total transaction of $2,384,000.00. Following the completion of the transaction, the director now owns 70,409 shares in the company, valued at approximately $3,357,101.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of MRTX opened at $60.79 on Friday. Mirati Therapeutics Inc has a 12 month low of $21.50 and a 12 month high of $65.35. The firm has a market cap of $1.46 billion, a PE ratio of -21.87 and a beta of 1.49.

Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.85) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.87) by $0.02. Research analysts forecast that Mirati Therapeutics Inc will post -3.12 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc increased its stake in shares of Mirati Therapeutics by 1.9% during the 3rd quarter. Vanguard Group Inc now owns 1,431,905 shares of the biotechnology company’s stock worth $67,443,000 after purchasing an additional 26,316 shares during the last quarter. Federated Investors Inc. PA increased its stake in shares of Mirati Therapeutics by 252.8% during the 3rd quarter. Federated Investors Inc. PA now owns 120,317 shares of the biotechnology company’s stock worth $5,667,000 after purchasing an additional 86,218 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Mirati Therapeutics by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,431,905 shares of the biotechnology company’s stock worth $67,443,000 after purchasing an additional 26,316 shares during the last quarter. Morgan Stanley increased its stake in shares of Mirati Therapeutics by 20.0% during the 3rd quarter. Morgan Stanley now owns 53,375 shares of the biotechnology company’s stock worth $2,514,000 after purchasing an additional 8,888 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Mirati Therapeutics by 13.1% during the 3rd quarter. Teachers Advisors LLC now owns 39,180 shares of the biotechnology company’s stock worth $1,845,000 after purchasing an additional 4,547 shares during the last quarter.

MRTX has been the topic of several research reports. Cowen reiterated a “buy” rating on shares of Mirati Therapeutics in a research note on Monday, October 22nd. Oppenheimer set a $57.00 price objective on shares of Mirati Therapeutics and gave the company a “buy” rating in a research note on Sunday, November 11th. Zacks Investment Research upgraded shares of Mirati Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Guggenheim upgraded shares of Mirati Therapeutics from a “neutral” rating to a “buy” rating in a research note on Monday, October 29th. Finally, BidaskClub upgraded shares of Mirati Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 5th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $54.89.

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Mirati Therapeutics Company Profile

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.

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