Rhumbline Advisers Has $6.01 Million Stock Position in Mirati Therapeutics, Inc. (NASDAQ:MRTX)

Rhumbline Advisers lowered its stake in shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) by 24.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,209 shares of the biotechnology company’s stock after selling 11,934 shares during the period. Rhumbline Advisers’ holdings in Mirati Therapeutics were worth $6,010,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. US Bancorp DE raised its stake in shares of Mirati Therapeutics by 73.2% during the 2nd quarter. US Bancorp DE now owns 272 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 115 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Mirati Therapeutics by 17.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 4,550 shares of the biotechnology company’s stock worth $735,000 after purchasing an additional 688 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Mirati Therapeutics during the 2nd quarter worth approximately $336,000. Russell Investments Group Ltd. raised its stake in shares of Mirati Therapeutics by 159.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 33,536 shares of the biotechnology company’s stock worth $5,416,000 after purchasing an additional 20,589 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Mirati Therapeutics during the 2nd quarter worth approximately $1,378,000.

A number of brokerages have recently issued reports on MRTX. upgraded Mirati Therapeutics from a “neutral” rating to a “buy” rating in a research note on Friday, June 4th. Citigroup upgraded Mirati Therapeutics from a “neutral” rating to a “buy” rating in a research note on Friday, June 4th. Oppenheimer restated a “market perform” rating and issued a $160.00 price target (down previously from $245.00) on shares of Mirati Therapeutics in a research note on Monday, May 24th. HC Wainwright dropped their price target on Mirati Therapeutics from $251.00 to $247.00 and set a “buy” rating on the stock in a research note on Monday, August 9th. Finally, JPMorgan Chase & Co. dropped their price target on Mirati Therapeutics from $205.00 to $203.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Mirati Therapeutics currently has a consensus rating of “Buy” and an average price target of $210.25.

MRTX opened at $160.20 on Wednesday. The firm has a market cap of $8.27 billion, a P/E ratio of -16.12 and a beta of 1.37. Mirati Therapeutics, Inc. has a 52-week low of $131.46 and a 52-week high of $249.42. The business’s fifty day moving average is $158.12 and its 200-day moving average is $163.68.

Mirati Therapeutics (NASDAQ:MRTX) last released its earnings results on Thursday, August 5th. The biotechnology company reported ($3.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by ($0.83). As a group, equities analysts anticipate that Mirati Therapeutics, Inc. will post -11.76 EPS for the current year.

In related news, CEO Charles M. Baum sold 40,000 shares of the firm’s stock in a transaction dated Friday, June 18th. The stock was 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 of the company’s stock, valued at $25,268,058.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.12% of the company’s stock.

Mirati Therapeutics Company Profile

Mirati Therapeutics, Inc operates as a clinical-stage oncology company, which engages in the development of novel therapeutics. The firm’s products targets the genetic and immunological promoters of cancer. Its clinical pipeline consists of Adagrasib, MRTX1133, and Sitravatinib. The company was founded on December 13, 1995 and is headquartered in San Diego, CA.

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

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