Mirati Therapeutics, Inc. (NASDAQ:MRTX) shot up 0.2% during trading on Wednesday . The stock traded as high as $30.05 and last traded at $29.85. 369,754 shares were traded during mid-day trading, a decline of 24% from the average session volume of 488,073 shares. The stock had previously closed at $29.90.

Several research firms recently commented on MRTX. BidaskClub raised Mirati Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday. ValuEngine cut Mirati Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Zacks Investment Research raised Mirati Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Oppenheimer reaffirmed a “buy” rating and issued a $18.00 price target on shares of Mirati Therapeutics in a report on Wednesday, November 22nd. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $13.00 price target on shares of Mirati Therapeutics in a report on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Mirati Therapeutics has a consensus rating of “Buy” and a consensus price target of $14.75.

In other Mirati Therapeutics news, major shareholder Venbio Select Advisor Llc acquired 650,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average cost of $13.00 per share, for a total transaction of $8,450,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jamie Christensen sold 14,725 shares of the stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $22.99, for a total value of $338,527.75. Following the completion of the transaction, the senior vice president now owns 6,395 shares of the company’s stock, valued at $147,021.05. The disclosure for this sale can be found here. Insiders sold 71,314 shares of company stock valued at $1,831,831 over the last quarter. 5.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sabby Management LLC boosted its position in shares of Mirati Therapeutics by 2.1% during the second quarter. Sabby Management LLC now owns 255,100 shares of the biotechnology company’s stock worth $921,000 after buying an additional 5,365 shares during the period. Susquehanna International Group LLP boosted its position in shares of Mirati Therapeutics by 46.5% during the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock worth $184,000 after buying an additional 16,030 shares during the period. Citadel Advisors LLC purchased a new position in shares of Mirati Therapeutics during the third quarter worth $268,000. OxFORD Asset Management LLP purchased a new position in shares of Mirati Therapeutics during the third quarter worth $365,000. Finally, SG Americas Securities LLC purchased a new position in shares of Mirati Therapeutics during the fourth quarter worth $829,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

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About Mirati Therapeutics

Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The company’s 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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