Point72 Asset Management L.P. Has $45.81 Million Holdings in Mirati Therapeutics, Inc. (NASDAQ:MRTX)

Point72 Asset Management L.P. increased its stake in Mirati Therapeutics, Inc. (NASDAQ:MRTX) by 24.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 267,400 shares of the biotechnology company’s stock after buying an additional 51,937 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.52% of Mirati Therapeutics worth $45,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MRTX. BlackRock Inc. lifted its holdings in Mirati Therapeutics by 6.8% during the 1st quarter. BlackRock Inc. now owns 4,573,591 shares of the biotechnology company’s stock valued at $783,456,000 after purchasing an additional 293,179 shares during the last quarter. Boxer Capital LLC lifted its holdings in Mirati Therapeutics by 13.3% during the 1st quarter. Boxer Capital LLC now owns 2,000,000 shares of the biotechnology company’s stock valued at $342,600,000 after purchasing an additional 234,440 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Mirati Therapeutics by 18.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,559,416 shares of the biotechnology company’s stock valued at $342,510,000 after purchasing an additional 248,154 shares during the last quarter. RTW Investments LP lifted its holdings in Mirati Therapeutics by 26.4% during the 1st quarter. RTW Investments LP now owns 1,333,232 shares of the biotechnology company’s stock valued at $228,383,000 after purchasing an additional 278,868 shares during the last quarter. Finally, Orbimed Advisors LLC lifted its holdings in Mirati Therapeutics by 6.6% during the 1st quarter. Orbimed Advisors LLC now owns 1,221,200 shares of the biotechnology company’s stock valued at $209,192,000 after purchasing an additional 75,900 shares during the last quarter.

NASDAQ:MRTX opened at $164.10 on Thursday. The company has a 50-day simple moving average of $161.99. Mirati Therapeutics, Inc. has a twelve month low of $115.44 and a twelve month high of $249.42.

Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings data on Thursday, May 6th. The biotechnology company reported ($2.67) earnings per share for the quarter, missing the consensus estimate of ($2.13) by ($0.54). The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.17 million. The firm’s quarterly revenue was down 96.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.02) earnings per share. Equities analysts predict that Mirati Therapeutics, Inc. will post -10.25 EPS for the current fiscal year.

Several research analysts have weighed in on MRTX shares. Zacks Investment Research upgraded Mirati Therapeutics from a “sell” rating to a “hold” rating and set a $172.00 price objective on the stock in a research report on Friday, July 9th. upgraded Mirati Therapeutics from a “neutral” rating to a “buy” rating in a research report on Friday, June 4th. Jefferies Financial Group upgraded Mirati Therapeutics from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $208.00 to $196.00 in a research report on Monday, May 10th. Citigroup upgraded Mirati Therapeutics from a “neutral” rating to a “buy” rating in a research report on Friday, June 4th. Finally, HC Wainwright decreased their price target on Mirati Therapeutics from $255.00 to $251.00 and set a “buy” rating on the stock in a research report on Monday, May 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $214.64.

In other news, EVP Jamie Christensen sold 435 shares of Mirati Therapeutics stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $154.34, for a total transaction of $67,137.90. Following the sale, the executive vice president now directly owns 53,850 shares of the company’s stock, valued at $8,311,209. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles M. Baum sold 40,000 shares of Mirati Therapeutics stock in a transaction dated Friday, June 18th. The shares were sold at an average price of $165.46, for a total value of $6,618,400.00. Following the sale, the chief executive officer now directly owns 152,714 shares in the company, valued at $25,268,058.44. The disclosure for this sale can be found here. Company insiders own 3.12% of the company’s stock.

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 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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Institutional Ownership by Quarter for Mirati Therapeutics (NASDAQ:MRTX)

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