Sigma Planning Corp Invests $201,000 in Mirati Therapeutics Inc (NASDAQ:MRTX)

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Sigma Planning Corp acquired a new position in shares of Mirati Therapeutics Inc (NASDAQ:MRTX) in the 2nd quarter, Holdings Channel reports. The fund acquired 1,950 shares of the biotechnology company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Moody Aldrich Partners LLC grew its holdings in shares of Mirati Therapeutics by 42.8% during the second quarter. Moody Aldrich Partners LLC now owns 18,760 shares of the biotechnology company’s stock worth $1,932,000 after purchasing an additional 5,619 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in shares of Mirati Therapeutics during the first quarter worth about $2,932,000. Quantitative Systematic Strategies LLC purchased a new stake in Mirati Therapeutics in the second quarter worth approximately $271,000. Pictet Asset Management Ltd. boosted its stake in Mirati Therapeutics by 0.9% in the first quarter. Pictet Asset Management Ltd. now owns 235,975 shares of the biotechnology company’s stock worth $17,297,000 after buying an additional 2,141 shares in the last quarter. Finally, EAM Global Investors LLC purchased a new stake in Mirati Therapeutics in the first quarter worth approximately $2,125,000. 97.93% of the stock is owned by institutional investors.

Shares of MRTX stock opened at $83.35 on Friday. Mirati Therapeutics Inc has a fifty-two week low of $28.50 and a fifty-two week high of $111.99. The stock has a 50 day moving average price of $98.98 and a two-hundred day moving average price of $82.38. The company has a market capitalization of $3.28 billion, a P/E ratio of -26.13 and a beta of 1.99.

Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.18) by ($0.08). The business had revenue of $0.58 million during the quarter. On average, equities analysts forecast that Mirati Therapeutics Inc will post -5.04 EPS for the current year.

In other Mirati Therapeutics news, CEO Charles M. Baum sold 51,810 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $86.22, for a total value of $4,467,058.20. Following the completion of the sale, the chief executive officer now owns 117,851 shares in the company, valued at $10,161,113.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce L. A. Carter sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $89.24, for a total value of $267,720.00. Following the completion of the sale, the director now owns 3,000 shares of the company’s stock, valued at approximately $267,720. The disclosure for this sale can be found here. Insiders sold 845,360 shares of company stock valued at $82,651,250 in the last quarter. Corporate insiders own 4.86% of the company’s stock.

MRTX has been the subject of several research reports. Barclays upped their target price on Mirati Therapeutics from $85.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. BidaskClub lowered Mirati Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. SunTrust Banks upped their target price on Mirati Therapeutics to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. HC Wainwright reaffirmed a “buy” rating and issued a $117.00 target price on shares of Mirati Therapeutics in a research note on Tuesday, August 6th. Finally, Deutsche Bank initiated coverage on Mirati Therapeutics in a research note on Thursday, July 18th. They issued a “hold” rating and a $86.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $95.16.

Mirati Therapeutics Profile

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 is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.

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

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