Dimensional Fund Advisors LP trimmed its stake in shares of Mirati Therapeutics Inc (NASDAQ:MRTX) by 18.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 245,124 shares of the biotechnology company’s stock after selling 55,933 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Mirati Therapeutics were worth $10,398,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its position in Mirati Therapeutics by 30.0% in the fourth quarter. BlackRock Inc. now owns 2,052,949 shares of the biotechnology company’s stock valued at $87,086,000 after purchasing an additional 474,097 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Mirati Therapeutics by 21.8% in the fourth quarter. Jennison Associates LLC now owns 1,216,464 shares of the biotechnology company’s stock valued at $51,602,000 after buying an additional 217,960 shares during the period. Perceptive Advisors LLC acquired a new stake in shares of Mirati Therapeutics in the fourth quarter valued at about $5,250,000. Amundi Pioneer Asset Management Inc. grew its stake in Mirati Therapeutics by 44.8% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 268,100 shares of the biotechnology company’s stock worth $11,373,000 after purchasing an additional 82,900 shares during the period. Finally, FMR LLC grew its stake in Mirati Therapeutics by 3.0% during the fourth quarter. FMR LLC now owns 2,196,388 shares of the biotechnology company’s stock worth $93,171,000 after purchasing an additional 63,699 shares during the period.
In related news, CFO Jamie A. Donadio sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $75.00, for a total value of $562,500.00. Following the completion of the sale, the chief financial officer now directly owns 7,721 shares in the company, valued at $579,075. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Venbio Select Advisor Llc sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $76.55, for a total transaction of $9,568,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 165,041 shares of company stock worth $12,464,235 over the last three months. 4.70% of the stock is currently owned by insiders.
Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings data on Monday, April 29th. The biotechnology company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.97) by ($0.20). The firm had revenue of $1.24 million for the quarter. As a group, research analysts forecast that Mirati Therapeutics Inc will post -5 EPS for the current fiscal year.
Several brokerages have issued reports on MRTX. Svb Leerink reiterated an “outperform” rating on shares of Mirati Therapeutics in a report on Friday, February 15th. Citigroup upgraded Mirati Therapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $76.00 to $132.00 in a report on Tuesday, June 4th. Cowen reissued a “buy” rating on shares of Mirati Therapeutics in a research report on Tuesday, June 4th. Cantor Fitzgerald lifted their price target on Mirati Therapeutics from $66.00 to $85.00 and gave the company a “positive” rating in a research report on Tuesday, June 4th. Finally, HC Wainwright restated a “buy” rating and set a $117.00 target price (up from $84.00) on shares of Mirati Therapeutics in a research report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $90.97.
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About Mirati Therapeutics
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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