Point72 Asset Management L.P. grew its position in shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) by 24.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 267,400 shares of the biotechnology company’s stock after purchasing an additional 51,937 shares during the quarter. Point72 Asset Management L.P.’s holdings in Mirati Therapeutics were worth $45,806,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in Mirati Therapeutics by 84.7% during the 1st quarter. US Bancorp DE now owns 157 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 72 shares during the period. Valley Brook Capital Group purchased a new position in shares of Mirati Therapeutics in the 4th quarter valued at approximately $43,000. Canada Pension Plan Investment Board purchased a new position in shares of Mirati Therapeutics in the 4th quarter valued at approximately $61,000. Meeder Asset Management Inc. purchased a new position in shares of Mirati Therapeutics in the 1st quarter valued at approximately $66,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Mirati Therapeutics in the 4th quarter valued at approximately $125,000.
NASDAQ MRTX opened at $164.10 on Thursday. The firm’s fifty day moving average is $161.99. Mirati Therapeutics, Inc. has a fifty-two week low of $115.44 and a fifty-two week high of $249.42.
A number of research firms have recently commented on MRTX. Oppenheimer restated a “market perform” rating and issued a $160.00 target price (down previously from $245.00) on shares of Mirati Therapeutics in a research note on Monday, May 24th. Jefferies Financial Group raised Mirati Therapeutics from a “hold” rating to a “buy” rating and reduced their price objective for the company from $208.00 to $196.00 in a research report on Monday, May 10th. raised Mirati Therapeutics from a “neutral” rating to a “buy” rating in a research report on Friday, June 4th. Citigroup raised Mirati Therapeutics from a “neutral” rating to a “buy” rating in a report on Friday, June 4th. Finally, Zacks Investment Research raised Mirati Therapeutics from a “sell” rating to a “hold” rating and set a $172.00 target price for the company in a report on Friday, July 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $214.64.
In other news, EVP Jamie Christensen sold 435 shares of the business’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $154.34, for a total value of $67,137.90. Following the transaction, the executive vice president now directly owns 53,850 shares in the company, valued at $8,311,209. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles M. Baum sold 40,000 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 152,714 shares in the company, valued at $25,268,058.44. The disclosure for this sale can be found here. 3.12% of the stock is owned by insiders.
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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