Mirati Therapeutics, Inc. (NASDAQ:MRTX) Position Decreased by Guggenheim Capital LLC

Guggenheim Capital LLC trimmed its position in Mirati Therapeutics, Inc. (NASDAQ:MRTX) by 39.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,438 shares of the biotechnology company’s stock after selling 17,875 shares during the quarter. Guggenheim Capital LLC’s holdings in Mirati Therapeutics were worth $1,020,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Mirati Therapeutics by 4.0% in the third quarter. Vanguard Group Inc. now owns 4,728,299 shares of the biotechnology company’s stock worth $330,225,000 after buying an additional 180,278 shares during the period. Armistice Capital LLC raised its position in Mirati Therapeutics by 83.6% during the fourth quarter. Armistice Capital LLC now owns 3,488,000 shares of the biotechnology company’s stock valued at $158,041,000 after acquiring an additional 1,588,000 shares in the last quarter. BlackRock Inc. raised 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 valued at $230,022,000 after acquiring an additional 40,963 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Mirati Therapeutics by 1,803.1% during the second quarter. Goldman Sachs Group Inc. now owns 2,447,460 shares of the biotechnology company’s stock valued at $164,298,000 after acquiring an additional 2,318,853 shares in the last quarter. Finally, State Street Corp raised its position in Mirati Therapeutics by 31.8% during the second quarter. State Street Corp now owns 1,876,615 shares of the biotechnology company’s stock valued at $125,977,000 after acquiring an additional 453,050 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently commented on MRTX shares. Bank of America dropped their price target on shares of Mirati Therapeutics from $54.00 to $46.00 in a research report on Monday, July 24th. Guggenheim dropped their price target on shares of Mirati Therapeutics from $104.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, July 24th. Stifel Nicolaus lifted their price target on shares of Mirati Therapeutics from $77.00 to $83.00 in a research report on Wednesday, August 9th. StockNews.com started coverage on shares of Mirati Therapeutics in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. Finally, Oppenheimer lifted their price target on shares of Mirati Therapeutics from $56.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Mirati Therapeutics has a consensus rating of “Hold” and a consensus price target of $59.08.

Mirati Therapeutics Stock Performance

Shares of NASDAQ MRTX opened at $37.75 on Monday. Mirati Therapeutics, Inc. has a 52 week low of $27.30 and a 52 week high of $101.30. The stock has a market capitalization of $2.21 billion, a P/E ratio of -2.94 and a beta of 0.94. The stock’s fifty day moving average is $35.45 and its 200 day moving average is $39.56.

Mirati Therapeutics (NASDAQ:MRTX) last released its earnings results on Tuesday, August 8th. The biotechnology company reported ($3.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.23) by $0.19. The firm had revenue of $13.70 million for the quarter, compared to analysts’ expectations of $13.17 million. Mirati Therapeutics had a negative return on equity of 79.37% and a negative net margin of 2,709.33%. The business’s revenue for the quarter was up 153.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.18) earnings per share. Equities research analysts forecast that Mirati Therapeutics, Inc. will post -11.95 earnings per share for the current year.

Insider Buying and Selling

In other Mirati Therapeutics news, insider Boxer Capital, Llc purchased 1,201,440 shares of the company’s stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $27.80 per share, with a total value of $33,400,032.00. Following the completion of the purchase, the insider now owns 3,201,440 shares in the company, valued at $89,000,032. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Faheem Hasnain purchased 10,791 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $27.80 per share, for a total transaction of $299,989.80. Following the completion of the acquisition, the director now owns 10,791 shares of the company’s stock, valued at approximately $299,989.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Boxer Capital, Llc acquired 1,201,440 shares of Mirati Therapeutics stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $27.80 per share, with a total value of $33,400,032.00. Following the purchase, the insider now directly owns 3,201,440 shares in the company, valued at $89,000,032. The disclosure for this purchase can be found here. 3.47% of the stock is owned by insiders.

Mirati Therapeutics Profile

Mirati Therapeutics, Inc, a commercial-stage oncology company, develops novel therapeutics to address the genetic and immunological promoters of cancer in the United States. The company provides KRAZATI, an oral targeted treatment option for adult patients with KRAS G12C-mutated locally advanced or metastatic non-small cell lung (NSCLC), as well as in clinical development as a monotherapy and in combination with other agents.