Franklin Resources Inc. Has $97.91 Million Stock Position in Mirati Therapeutics, Inc. (NASDAQ:MRTX)

Franklin Resources Inc. grew its holdings in shares of Mirati Therapeutics, Inc. (NASDAQ:MRTXGet Rating) by 26.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,458,465 shares of the biotechnology company’s stock after purchasing an additional 307,184 shares during the period. Franklin Resources Inc. owned about 2.63% of Mirati Therapeutics worth $97,907,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Signaturefd LLC grew its position in shares of Mirati Therapeutics by 102.4% during the 1st quarter. Signaturefd LLC now owns 338 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 171 shares in the last quarter. First Horizon Advisors Inc. acquired a new stake in shares of Mirati Therapeutics during the 2nd quarter worth approximately $25,000. IndexIQ Advisors LLC acquired a new stake in shares of Mirati Therapeutics during the 1st quarter worth approximately $42,000. Advisor Group Holdings Inc. boosted its position in shares of Mirati Therapeutics by 211.1% during 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 in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Mirati Therapeutics during the 2nd quarter worth approximately $55,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MRTX shares. JMP Securities increased their price target on shares of Mirati Therapeutics from $72.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 4th. StockNews.com started coverage on shares of Mirati Therapeutics in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. Jonestrading initiated coverage on shares of Mirati Therapeutics in a research report on Tuesday, September 13th. They set a “buy” rating and a $100.00 price target on the stock. Piper Sandler initiated coverage on shares of Mirati Therapeutics in a research note on Thursday, September 15th. They issued an “overweight” rating and a $110.00 price objective for the company. Finally, SVB Leerink dropped their price objective on shares of Mirati Therapeutics from $111.00 to $102.00 and set an “outperform” rating for the company in a research note on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Mirati Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.64.

Mirati Therapeutics Stock Up 11.3 %

MRTX stock opened at $95.85 on Thursday. The company has a fifty day moving average price of $69.80 and a 200-day moving average price of $67.75. Mirati Therapeutics, Inc. has a 52-week low of $32.96 and a 52-week high of $154.17.

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.

Further Reading

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

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