Vident Investment Advisory LLC Takes Position in Mirati Therapeutics Inc (MRTX)

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Vident Investment Advisory LLC acquired a new stake in Mirati Therapeutics Inc (NASDAQ:MRTX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 51,012 shares of the biotechnology company’s stock, valued at approximately $2,515,000. Vident Investment Advisory LLC owned 0.16% of Mirati Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fred Alger Management Inc. bought a new stake in Mirati Therapeutics in the 2nd quarter valued at about $394,000. Cubist Systematic Strategies LLC bought a new stake in Mirati Therapeutics in the 1st quarter valued at about $193,000. Point72 Asset Management L.P. boosted its holdings in Mirati Therapeutics by 404.2% in the 1st quarter. Point72 Asset Management L.P. now owns 407,929 shares of the biotechnology company’s stock valued at $12,523,000 after purchasing an additional 327,030 shares during the period. Quantbot Technologies LP bought a new stake in Mirati Therapeutics in the 1st quarter valued at about $157,000. Finally, Northern Trust Corp boosted its holdings in Mirati Therapeutics by 9.4% in the 1st quarter. Northern Trust Corp now owns 60,341 shares of the biotechnology company’s stock valued at $1,852,000 after purchasing an additional 5,197 shares during the period. 97.82% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the stock. Cann restated a “buy” rating and issued a $62.00 target price on shares of Mirati Therapeutics in a research report on Thursday, August 2nd. HC Wainwright boosted their target price on shares of Mirati Therapeutics to $63.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Oppenheimer boosted their target price on shares of Mirati Therapeutics from $35.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, July 9th. Citigroup boosted their target price on shares of Mirati Therapeutics from $37.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 5th. Finally, Cowen restated a “buy” rating on shares of Mirati Therapeutics in a research report on Thursday, June 28th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $47.75.

In related news, CEO Charles M. Baum sold 51,810 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $57.55, for a total transaction of $2,981,665.50. Following the completion of the transaction, the chief executive officer now directly owns 102,742 shares in the company, valued at approximately $5,912,802.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jamie Christensen sold 10,207 shares of the company’s stock in a transaction that occurred on Wednesday, June 27th. The stock was sold at an average price of $49.15, for a total transaction of $501,674.05. Following the transaction, the senior vice president now owns 8,085 shares of the company’s stock, valued at $397,377.75. The disclosure for this sale can be found here. 4.86% of the stock is currently owned by insiders.

Shares of NASDAQ:MRTX opened at $55.30 on Friday. The company has a market capitalization of $1.78 billion, a PE ratio of -19.89 and a beta of 1.95. Mirati Therapeutics Inc has a 12 month low of $9.15 and a 12 month high of $65.35.

Mirati Therapeutics (NASDAQ:MRTX) last issued its earnings results on Wednesday, August 1st. The biotechnology company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.16). sell-side analysts predict that Mirati Therapeutics Inc will post -3.14 earnings per share for the current fiscal year.

Mirati Therapeutics Profile

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.

Read More: What are the Different Types of Leveraged Buyouts?

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

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