Janus Henderson Group PLC trimmed its holdings in shares of Mirati Therapeutics Inc (NASDAQ:MRTX) by 17.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,677,539 shares of the biotechnology company’s stock after selling 357,205 shares during the period. Janus Henderson Group PLC owned 4.65% of Mirati Therapeutics worth $172,787,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in MRTX. CWM LLC acquired a new stake in Mirati Therapeutics during the 1st quarter valued at $40,000. Aperio Group LLC acquired a new stake in Mirati Therapeutics during the 2nd quarter valued at $50,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Mirati Therapeutics by 19.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,422 shares of the biotechnology company’s stock valued at $146,000 after purchasing an additional 235 shares in the last quarter. Legal & General Group Plc increased its holdings in Mirati Therapeutics by 16.5% during the 4th quarter. Legal & General Group Plc now owns 3,635 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 515 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Mirati Therapeutics during the 2nd quarter valued at $154,000.
In other news, major shareholder Boxer Capital, Llc sold 725,008 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $98.30, for a total value of $71,268,286.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Avoro Capital Advisors Llc sold 62,500 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $101.88, for a total value of $6,367,500.00. The disclosure for this sale can be found here. Insiders sold a total of 798,008 shares of company stock worth $78,423,886 over the last 90 days. 4.70% of the stock is owned by corporate insiders.
Mirati Therapeutics (NASDAQ:MRTX) last posted its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.18) by ($0.08). The firm had revenue of $0.58 million during the quarter. As a group, sell-side analysts expect that Mirati Therapeutics Inc will post -5.04 earnings per share for the current year.
MRTX has been the subject of a number of recent analyst reports. Barclays raised their price target on Mirati Therapeutics from $85.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. Piper Jaffray Companies raised their price target on Mirati Therapeutics from $85.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Zacks Investment Research cut Mirati Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Guggenheim cut Mirati Therapeutics from a “buy” rating to a “neutral” rating and set a $95.56 target price for the company. in a research note on Friday, June 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $117.00 target price on shares of Mirati Therapeutics in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $95.16.
Mirati Therapeutics Company 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.
Further Reading: Intrinsic Value
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