Mirati Therapeutics Inc (MRTX) Major Shareholder Venbio Select Advisor Llc Sells 686,820 Shares

Mirati Therapeutics Inc (NASDAQ:MRTX) major shareholder Venbio Select Advisor Llc sold 686,820 shares of Mirati Therapeutics stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $73.00, for a total transaction of $50,137,860.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

MRTX stock traded up $0.34 during trading on Thursday, reaching $75.54. 447,387 shares of the stock were exchanged, compared to its average volume of 731,528. Mirati Therapeutics Inc has a 1 year low of $24.65 and a 1 year high of $76.00. The company has a market capitalization of $2.56 billion, a PE ratio of -27.17 and a beta of 2.14.

Several analysts have recently issued reports on the stock. Svb Leerink reiterated an “outperform” rating on shares of Mirati Therapeutics in a research report on Friday, February 15th. Zacks Investment Research upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, January 4th. Piper Jaffray Companies assumed coverage on shares of Mirati Therapeutics in a research report on Friday, February 15th. They set an “overweight” rating and a $85.00 price target on the stock. restated a “buy” rating and set a $57.00 price target (down from $62.00) on shares of Mirati Therapeutics in a research report on Tuesday, November 6th. Finally, BidaskClub upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, December 7th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $58.70.

Hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. raised its stake in Mirati Therapeutics by 12.9% during the fourth quarter. Meeder Asset Management Inc. now owns 2,087 shares of the biotechnology company’s stock worth $89,000 after purchasing an additional 239 shares during the period. Legal & General Group Plc raised its stake in shares of Mirati Therapeutics by 16.5% in the 4th quarter. Legal & General Group Plc now owns 3,635 shares of the biotechnology company’s stock valued at $154,000 after acquiring an additional 515 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Mirati Therapeutics in the 3rd quarter valued at approximately $176,000. Renaissance Technologies LLC purchased a new stake in shares of Mirati Therapeutics in the 2nd quarter valued at approximately $227,000. Finally, GAM Holding AG purchased a new stake in shares of Mirati Therapeutics in the 3rd quarter valued at approximately $236,000.

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Mirati Therapeutics Company Profile

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

Insider Buying and Selling by Quarter for Mirati Therapeutics (NASDAQ:MRTX)

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