Natixis Sells 28,209 Shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX)

Natixis reduced its position in Mirati Therapeutics, Inc. (NASDAQ:MRTX – Free Report) by 89.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,500 shares of the biotechnology company’s stock after selling 28,209 shares during the period. Natixis’ holdings in Mirati Therapeutics were worth $126,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in Mirati Therapeutics by 1,803.1% in the second quarter. Goldman Sachs Group Inc. now owns 2,447,460 shares of the biotechnology company’s stock worth $164,298,000 after purchasing an additional 2,318,853 shares during the period. Morgan Stanley boosted its stake in shares of Mirati Therapeutics by 71.2% in the 4th quarter. Morgan Stanley now owns 1,689,711 shares of the biotechnology company’s stock valued at $76,561,000 after purchasing an additional 702,556 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Mirati Therapeutics by 639.9% during the 4th quarter. Point72 Asset Management L.P. now owns 753,600 shares of the biotechnology company’s stock worth $34,146,000 after buying an additional 651,753 shares during the period. BlackRock Inc. raised its stake in shares of Mirati Therapeutics by 21.6% during the first quarter. BlackRock Inc. now owns 3,236,879 shares of the biotechnology company’s stock worth $120,347,000 after buying an additional 573,957 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Mirati Therapeutics by 216.0% in the second quarter. Assenagon Asset Management S.A. now owns 808,820 shares of the biotechnology company’s stock valued at $29,223,000 after buying an additional 552,860 shares during the period.

Analysts Set New Price Targets

A number of analysts have commented on MRTX shares. Piper Sandler lowered shares of Mirati Therapeutics from an “overweight” rating to a “neutral” rating and set a $58.00 target price for the company. in a report on Monday, October 9th. Citigroup raised Mirati Therapeutics from a “neutral” rating to a “buy” rating and lowered their price target for the company from $51.00 to $48.00 in a research note on Thursday, August 10th. BMO Capital Markets raised their price objective on Mirati Therapeutics from $31.00 to $72.00 and gave the stock a “market perform” rating in a research note on Friday, October 6th. JMP Securities cut Mirati Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, October 9th. Finally, Morgan Stanley dropped their price target on Mirati Therapeutics from $42.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Mirati Therapeutics has a consensus rating of “Hold” and an average price target of $59.60.

Read Our Latest Research Report on MRTX

Mirati Therapeutics Stock Down 0.4 %

NASDAQ MRTX opened at $56.72 on Wednesday. The firm’s 50 day moving average is $54.88 and its 200-day moving average is $42.93. The company has a market capitalization of $3.98 billion, a PE ratio of -4.64 and a beta of 0.69. Mirati Therapeutics, Inc. has a 12-month low of $27.30 and a 12-month high of $80.30.

Mirati Therapeutics (NASDAQ:MRTX – Get Free Report) last issued its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($2.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.83) by $0.34. Mirati Therapeutics had a negative net margin of 1,900.65% and a negative return on equity of 82.15%. The firm had revenue of $16.40 million for the quarter, compared to analyst estimates of $18.80 million. During the same period in the previous year, the business earned ($3.09) EPS. The company’s revenue was up 203.7% compared to the same quarter last year. As a group, sell-side analysts expect that Mirati Therapeutics, Inc. will post -11.7 EPS for the current year.

Insider Activity at Mirati Therapeutics

In related news, EVP Jamie Christensen sold 2,388 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $35.63, for a total transaction of $85,084.44. Following the completion of the transaction, the executive vice president now directly owns 144,032 shares of the company’s stock, valued at $5,131,860.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.26% of the stock is owned by company insiders.

Mirati Therapeutics Company Profile

(Free Report)

Mirati Therapeutics, Inc, a commercial-stage oncology company, develops novel therapeutics to address the genetic and immunological promoters of cancer in the United States. The company provides KRAZATI, an oral targeted treatment option for adult patients with KRAS G12C-mutated locally advanced or metastatic non-small cell lung (NSCLC), as well as in clinical development as a monotherapy and in combination with other agents.

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