Wipfli Financial Advisors LLC Invests $42,000 in Mirati Therapeutics, Inc. (NASDAQ:MRTX)

Wipfli Financial Advisors LLC acquired a new stake in Mirati Therapeutics, Inc. (NASDAQ:MRTXGet Rating) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 600 shares of the biotechnology company’s stock, valued at approximately $42,000.

Other hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. acquired a new position in shares of Mirati Therapeutics during the 2nd quarter worth approximately $25,000. China Universal Asset Management Co. Ltd. purchased a new position in Mirati Therapeutics during the third quarter worth approximately $36,000. Quadrant Capital Group LLC boosted its stake in Mirati Therapeutics by 161.6% during the second quarter. Quadrant Capital Group LLC now owns 701 shares of the biotechnology company’s stock worth $47,000 after buying an additional 433 shares during the last quarter. Amundi purchased a new stake in Mirati Therapeutics in the 2nd quarter valued at $51,000. Finally, Advisor Group Holdings Inc. increased its stake in shares of Mirati Therapeutics by 211.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 644 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 437 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MRTX shares. Bank of America dropped their price objective on shares of Mirati Therapeutics from $100.00 to $61.00 in a report on Thursday, December 8th. JPMorgan Chase & Co. lowered shares of Mirati Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $94.00 to $65.00 in a research report on Thursday, December 8th. B. Riley started coverage on Mirati Therapeutics in a research report on Friday, October 28th. They issued a “neutral” rating and a $72.00 price objective for the company. Piper Sandler lifted their target price on Mirati Therapeutics from $84.00 to $87.00 in a research report on Tuesday, December 13th. Finally, Stifel Nicolaus lowered their price target on Mirati Therapeutics to $73.00 in a report on Friday, December 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $83.20.

Mirati Therapeutics Stock Up 2.1 %

Mirati Therapeutics stock opened at $44.00 on Wednesday. The company’s 50 day moving average is $59.03 and its two-hundred day moving average is $67.31. The firm has a market cap of $2.53 billion, a PE ratio of -3.29 and a beta of 1.07. Mirati Therapeutics, Inc. has a 52-week low of $32.96 and a 52-week high of $124.82.

Mirati Therapeutics (NASDAQ:MRTXGet Rating) last announced its quarterly earnings data on Tuesday, November 8th. The biotechnology company reported ($3.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.46) by $0.37. Mirati Therapeutics had a negative return on equity of 60.40% and a negative net margin of 6,253.81%. The business had revenue of $5.43 million for the quarter, compared to analysts’ expectations of $4.72 million. On average, equities research analysts anticipate that Mirati Therapeutics, Inc. will post -13.5 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO David D. Meek sold 4,616 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $40.41, for a total value of $186,532.56. Following the sale, the chief executive officer now owns 64,971 shares of the company’s stock, valued at $2,625,478.11. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Mirati Therapeutics news, CEO David D. Meek sold 4,616 shares of the firm’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $40.41, for a total value of $186,532.56. Following the sale, the chief executive officer now directly owns 64,971 shares in the company, valued at $2,625,478.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Benjamin Hickey sold 3,248 shares of Mirati Therapeutics stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $40.41, for a total value of $131,251.68. Following the sale, the executive vice president now directly owns 50,877 shares of the company’s stock, valued at $2,055,939.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,623 shares of company stock worth $8,122,104. 3.47% of the stock is currently owned by company insiders.

Mirati Therapeutics Profile

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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 1/2 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 3 clinical trial for the treatment of NSCL cancer, as well as a KRAS G12D inhibitor program, which is in preclinical development.

See Also

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Institutional Ownership by Quarter for Mirati Therapeutics (NASDAQ:MRTX)

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