UBS Asset Management Americas Inc. decreased its holdings in Mirati Therapeutics, Inc. (NASDAQ:MRTX) by 23.9% in the 4th quarter, Holdings Channel reports. The firm owned 492,016 shares of the biotechnology company’s stock after selling 154,280 shares during the period. UBS Asset Management Americas Inc.’s holdings in Mirati Therapeutics were worth $108,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also modified their holdings of the stock. Marshall Wace LLP raised its holdings in shares of Mirati Therapeutics by 2,326.5% in the first quarter. Marshall Wace LLP now owns 4,853 shares of the biotechnology company’s stock valued at $356,000 after buying an additional 4,653 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Mirati Therapeutics by 38.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,134 shares of the biotechnology company’s stock valued at $853,000 after acquiring an additional 1,419 shares during the period. Great West Life Assurance Co. Can raised its stake in Mirati Therapeutics by 145.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 5,200 shares of the biotechnology company’s stock valued at $143,000 after acquiring an additional 3,083 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Mirati Therapeutics by 0.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 22,430 shares of the biotechnology company’s stock worth $3,725,000 after acquiring an additional 123 shares during the period. Finally, Morgan Stanley grew its stake in shares of Mirati Therapeutics by 13.7% in the 3rd quarter. Morgan Stanley now owns 30,476 shares of the biotechnology company’s stock valued at $5,061,000 after purchasing an additional 3,675 shares during the last quarter. Hedge funds and other institutional investors own 94.92% of the company’s stock.
MRTX has been the subject of several recent research reports. Credit Suisse Group increased their price target on Mirati Therapeutics from $225.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, December 16th. Oppenheimer reduced their target price on shares of Mirati Therapeutics from $260.00 to $255.00 and set an “outperform” rating for the company in a research note on Monday, March 8th. Finally, HC Wainwright lowered their target price on shares of Mirati Therapeutics from $257.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, March 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. Mirati Therapeutics has an average rating of “Buy” and a consensus target price of $218.57.
Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings data on Thursday, February 25th. The biotechnology company reported ($2.08) earnings per share for the quarter, beating the consensus estimate of ($2.23) by $0.15. The firm had revenue of $1.71 million during the quarter, compared to analysts’ expectations of $1.00 million. As a group, equities research analysts expect that Mirati Therapeutics, Inc. will post -8.21 earnings per share for the current year.
In other Mirati Therapeutics news, Director Bruce L. A. Carter sold 2,250 shares of Mirati Therapeutics stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $177.11, for a total transaction of $398,497.50. Following the completion of the transaction, the director now owns 5,725 shares in the company, valued at $1,013,954.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Daniel Faga sold 1,340 shares of the company’s stock in a transaction dated Tuesday, February 2nd. The shares were sold at an average price of $194.38, for a total transaction of $260,469.20. Insiders sold 442,685 shares of company stock worth $81,033,986 in the last three months. 4.10% of the stock is owned by corporate insiders.
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 develops MRTX849, a KRAS G12C inhibitor, which is in Phase I/II clinical trial for treating non-small cell lung (NSCL), colorectal, pancreatic, and other cancers; and Sitravatinib, an investigational spectrum-selective kinase inhibitor that is in Phase II clinical trial for the treatment of NSCL cancer, as well as a KRAS G12D inhibitor program, which is in preclinical development.
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