On January 18, Julie M. Cherrington, a Mirati Therapeutics, Inc. director, sold a total of 2,546 shares of the company’s stock. MRTX was the ticker symbol used when trading the stock on the NASDAQ. The shares were sold for a total value of $113,704,364, and buyers paid an average price of $44.66 per share. This brought the total value of the transaction to $113,704,364. The Securities and Exchange Commission was given legal documentation about the transaction, which can be viewed entirely by following the link provided in the previous sentence. The documentation was provided to the SEC.
On November 8, the most recent quarterly earnings report for Mirati Therapeutics (NASDAQ: MRTX) was made available to the public. Earnings per share (EPS) for the quarter for the biotechnology business came in at $3.09, which was $0.37 higher than the consensus estimate of $3.46 from industry experts. The quarter ended on a Tuesday. The net margin and return on equity for Mirati Therapeutics were in red. The net margin was -6,253.81%, and the return on equity was -60.40%. The revenue for the quarter came in at $5.43 million, which was significantly higher than the $4.72 million that analysts had anticipated would be brought in. Mirati Therapeutics, Inc. is expected to incur a loss of 13.5 cents per share throughout the current fiscal year, as stated by the projections of industry professionals.
In recent weeks, several hedge funds have, among other things, rebalanced the proportions of MRTX stock that they currently own. Bank Julius Baer & Co. Ltd. Zurich increased the percentage of Mirati Therapeutics in its portfolio by 41.7% over the second quarter. Bank Julius Baer & Co. Ltd. Zurich now has 2,481 stock held by the biotechnology company after purchasing an additional 730 shares. It comes to a total of $167,00 for all these shares combined. In the second quarter, Virtus ETF Advisers LLC made a 77.3% increase in the amount of Mirati Therapeutics stock it owned, bringing its total percentage of ownership to 100%. Following the acquisition of an additional 861 shares during the most recent quarter, Virtus ETF Advisers LLC now holds 1,975 shares of the stock held by the biotechnology company. The value of the firm’s 1,975 shares comes to a sum of $133,000. A financial investment of $42,000 was made in Mirati Therapeutics by Wipfli Financial Advisors LLC during the third quarter of 2018. During the second quarter, Credit Suisse AG brought the total amount of Mirati Therapeutics stock it owned to 0.3% higher than before. Credit Suisse AG now has a total of 442,710 shares of the stock held by the biotechnology business. This is after the company made an additional purchase of 1,123 shares during the most recent fiscal quarter. This portfolio is worth a total of $29,719,000.
Last but not least, US Bancorp DE increased the percentage of Mirati Therapeutics that it owns by 77.5% during the second quarter. This certainly should not be considered the least important development. US Bancorp DE now has a total of 3,369 shares of the biotechnology company’s stock, which are currently valued at $227,000 after purchasing an additional 1,471 shares during the period in question.
The number of MRTX shares that changed hands at midday on Friday was 17,010, significantly lower than its typical daily volume of 1,458,775. This led to an increase in the stock price of $2.16, which brought it to $45.14 per share. The lowest price that Mirati Therapeutics, Inc. has been at in the last year is $32.96. The highest price that the company has been at in the last year is $124.82. The company’s market capitalization is currently sitting at $2.60 billion, its price-to-earnings ratio is -3.21, and its beta is 1.07. The moving average for the company over the past 50 days is $58.13, and the moving average over the past 200 days is $66.98.
About MRTX, a sizeable number of research studies have been made available to the general public. StockNews.com gave Emirati Therapeutics shares a “sell” rating on January 13, the day after the market opened. The price objective for Mirati Therapeutics was lowered to $73.00 from its previous value of $80.00 in a report made public by Stifel Nicolaus on Friday, December 9. This change came about as a result of a change in the market. On October 28, B. Riley published a research note in which he began covering Mirati Therapeutics. The note was published on that day. They have assigned the company a “neutral” rating and have set a price target of $72.00 for the stock. Mirati Therapeutics shares were included in the research firm Needham & Company LLC’s coverage universe for the first time in a report issued on December 14. They recommended that shareholders “hold” their shares of the company. Citigroup decreased its price objective for Mirati Therapeutics from $121.00 to $53.00. It downgraded the company from a “buy” recommendation to a “neutral” rating in a research note published on Friday, December 9. This was the last and most significant change made to the company’s rating to the general public. StockNews.com gave Emirati Therapeutics shares a “sell” rating on January 13, the day after the market opened. The price objective for Mirati Therapeutics was lowered to $73.00 from its previous value of $80.00 in a report made public by Stifel Nicolaus on Friday, December 9. This change came about as a result of a change in the market. On October 28, B. Riley published a research note in which he began covering Mirati Therapeutics. The note was published on that day. They have assigned the company a “neutral” rating and have set a price target of $72.00 for the stock. Mirati Therapeutics shares were included in the research firm Needham & Company LLC’s coverage universe for the first time in a report issued on December 14. They recommended that shareholders “hold” their shares of the company. Citigroup decreased its price objective for Mirati Therapeutics from $121.00 to $53.00. It downgraded the company from a “buy” recommendation to a “neutral” rating in a research note published on Friday, December 9. This was the last and most significant change to the company’s rating. One of the research analysts has assigned the stock the rating of “sell,” eight others have assigned the stock the rating of “hold,” seven others have assigned the stock the rating of “hold,” and seven others have assigned the stock the recommendation of “buy.” According to information made available by Bloomberg, the stock is currently rated as having a “Hold” recommendation, and investors have their sights set on a price of $83.20 per share.
Mirati Therapeutics, Inc. is an oncology company founded in the United States and is currently in the clinical testing stage. They develop therapeutic candidates to treat cancer caused by genetic and immunological factors. The KRAS G12C inhibitor MRTX849 is currently being tested in Phase 1/2 clinical trials for the treatment of non-small cell lung (NSCL), colorectal, and pancreatic cancers, as well as other types of cancer. In addition, the business is working on Sitravatinib, a spectrum-selective kinase inhibitor currently in the Phase 3 clinical trial stage for the treatment of non-small cell lung cancer.
