State Board of Administration of Florida Retirement System Reduces Holdings in Mirati Therapeutics, Inc. (NASDAQ:MRTX)

State Board of Administration of Florida Retirement System lessened its stake in shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX – Get Rating) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,872 shares of the biotechnology company’s stock after selling 1,470 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.11% of Mirati Therapeutics worth $2,894,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Advisor Group Holdings Inc. raised its stake in Mirati Therapeutics by 211.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 644 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 437 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Mirati Therapeutics by 351.9% during the first quarter. US Bancorp DE now owns 1,898 shares of the biotechnology company’s stock worth $156,000 after purchasing an additional 1,478 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Mirati Therapeutics during the first quarter worth $189,000. MetLife Investment Management LLC acquired a new position in Mirati Therapeutics in the first quarter valued at $197,000. Finally, BlackRock Inc. lifted its position in Mirati Therapeutics by 1.5% during the first quarter. BlackRock Inc. now owns 2,797,638 shares of the biotechnology company’s stock worth $230,022,000 after buying an additional 40,963 shares during the period.

Analyst Upgrades and Downgrades

MRTX has been the subject of several recent analyst reports. StockNews.com assumed coverage on Mirati Therapeutics in a report on Thursday, March 16th. They issued a “sell” rating for the company. BMO Capital Markets cut their price target on shares of Mirati Therapeutics from $59.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 1st. Stifel Nicolaus lowered their price objective on shares of Mirati Therapeutics from $78.00 to $77.00 in a research note on Wednesday. Morgan Stanley cut their target price on Mirati Therapeutics from $60.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, January 27th. Finally, B. Riley boosted their price target on Mirati Therapeutics from $52.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mirati Therapeutics currently has a consensus rating of “Hold” and an average target price of $81.13.

Mirati Therapeutics Trading Up 2.8 %

NASDAQ MRTX opened at $49.49 on Friday. Mirati Therapeutics, Inc. has a 1 year low of $32.96 and a 1 year high of $101.30. The company has a market cap of $2.87 billion, a PE ratio of -3.75 and a beta of 1.04. The stock’s 50-day moving average price is $41.57 and its two-hundred day moving average price is $51.01.

Mirati Therapeutics (NASDAQ:MRTX – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported ($3.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.47) by $0.29. Mirati Therapeutics had a negative net margin of 5,957.44% and a negative return on equity of 66.05%. The business had revenue of $7.17 million for the quarter, compared to analyst estimates of $4.80 million. During the same quarter in the previous year, the business earned ($3.40) earnings per share. The firm’s revenue was up 910.9% compared to the same quarter last year. Research analysts forecast that Mirati Therapeutics, Inc. will post -13.26 EPS for the current fiscal year.

Mirati Therapeutics Profile

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Mirati Therapeutics, Inc operates as a clinical-stage oncology company. engages in the development of novel therapeutics. The firm’s products target the genetic and immunological promoters of cancer. Its clinical pipeline consists of Adagrasib, MRTX1133, and Sitravatinib. The company was founded on December 13, 1995, and is headquartered in San Diego, CA.