Two Sigma Advisers LP Grows Stake in Mirati Therapeutics Inc (NASDAQ:MRTX)

Two Sigma Advisers LP increased its position in shares of Mirati Therapeutics Inc (NASDAQ:MRTX) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 87,600 shares of the biotechnology company’s stock after buying an additional 7,000 shares during the quarter. Two Sigma Advisers LP owned about 0.25% of Mirati Therapeutics worth $3,716,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GAM Holding AG acquired a new stake in Mirati Therapeutics in the 3rd quarter valued at approximately $236,000. Vanguard Group Inc increased its holdings in Mirati Therapeutics by 1.9% in the 3rd quarter. Vanguard Group Inc now owns 1,431,905 shares of the biotechnology company’s stock valued at $67,443,000 after purchasing an additional 26,316 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Mirati Therapeutics by 12.9% in the 4th quarter. Meeder Asset Management Inc. now owns 2,087 shares of the biotechnology company’s stock valued at $89,000 after purchasing an additional 239 shares during the last quarter. Rhenman & Partners Asset Management AB acquired a new stake in Mirati Therapeutics in the 4th quarter valued at approximately $3,606,000. Finally, SG Americas Securities LLC acquired a new stake in Mirati Therapeutics in the 4th quarter valued at approximately $921,000.

Shares of MRTX stock opened at $63.68 on Friday. The firm has a market cap of $2.30 billion, a P/E ratio of -19.96 and a beta of 2.10. Mirati Therapeutics Inc has a 12 month low of $28.50 and a 12 month high of $80.00.

Mirati Therapeutics (NASDAQ:MRTX) last issued its earnings results on Thursday, February 28th. The biotechnology company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.03). The company had revenue of $3.46 million for the quarter, compared to analysts’ expectations of $3.00 million. Analysts expect that Mirati Therapeutics Inc will post -4.15 EPS for the current year.

MRTX has been the subject of several research reports. Zacks Investment Research downgraded shares of Mirati Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Credit Suisse Group assumed coverage on shares of Mirati Therapeutics in a report on Monday, March 25th. They issued an “outperform” rating and a $85.00 target price for the company. Cantor Fitzgerald assumed coverage on shares of Mirati Therapeutics in a research note on Monday, March 4th. They issued a “neutral” rating and a $66.00 price target for the company. BidaskClub downgraded shares of Mirati Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer set a $81.00 price target on shares of Mirati Therapeutics and gave the stock a “buy” rating in a research note on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Mirati Therapeutics has a consensus rating of “Buy” and a consensus price target of $69.08.

In related news, major shareholder Venbio Select Advisor Llc sold 23,781 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $72.80, for a total transaction of $1,731,256.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig A. Johnson sold 17,000 shares of the business’s stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $61.46, for a total transaction of $1,044,820.00. Following the transaction, the director now owns 7,000 shares of the company’s stock, valued at approximately $430,220. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,399,911 shares of company stock valued at $100,817,770. Insiders own 4.86% of the company’s stock.

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About Mirati Therapeutics

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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