Mirati Therapeutics Inc (NASDAQ:MRTX) CEO Charles M. Baum sold 51,810 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $57.55, for a total transaction of $2,981,665.50. Following the sale, the chief executive officer now directly owns 102,742 shares of the company’s stock, valued at approximately $5,912,802.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Mirati Therapeutics stock traded up $0.35 during mid-day trading on Friday, reaching $58.60. The company’s stock had a trading volume of 315,072 shares, compared to its average volume of 416,524. The company has a market cap of $1.88 billion, a PE ratio of -21.08 and a beta of 2.04. Mirati Therapeutics Inc has a twelve month low of $4.75 and a twelve month high of $65.35.

Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings data on Wednesday, August 1st. The biotechnology company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.16). research analysts predict that Mirati Therapeutics Inc will post -2.88 EPS for the current year.

A number of analysts have recently weighed in on the stock. Cann reissued a “buy” rating and set a $62.00 price target on shares of Mirati Therapeutics in a research report on Thursday, August 2nd. Zacks Investment Research downgraded shares of Mirati Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. SunTrust Banks raised their price target on shares of Mirati Therapeutics to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, June 19th. Oppenheimer raised their price target on shares of Mirati Therapeutics from $35.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, July 9th. Finally, Citigroup raised their price target on shares of Mirati Therapeutics from $37.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, July 5th. One analyst has rated the stock with a sell rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $47.75.

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Mirati Therapeutics by 67.5% in the second quarter. FMR LLC now owns 1,986,315 shares of the biotechnology company’s stock worth $97,926,000 after purchasing an additional 800,223 shares during the period. Boxer Capital LLC boosted its holdings in Mirati Therapeutics by 14.1% in the second quarter. Boxer Capital LLC now owns 1,565,560 shares of the biotechnology company’s stock worth $77,182,000 after purchasing an additional 193,050 shares during the period. BlackRock Inc. boosted its holdings in Mirati Therapeutics by 128.8% in the second quarter. BlackRock Inc. now owns 1,451,214 shares of the biotechnology company’s stock worth $71,544,000 after purchasing an additional 816,980 shares during the period. Janus Henderson Group PLC acquired a new position in Mirati Therapeutics in the second quarter worth $32,639,000. Finally, Jennison Associates LLC boosted its holdings in Mirati Therapeutics by 16.3% in the second quarter. Jennison Associates LLC now owns 614,719 shares of the biotechnology company’s stock worth $30,306,000 after purchasing an additional 86,323 shares during the period. 85.84% of the stock is owned by hedge funds and other institutional investors.

About Mirati Therapeutics

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.

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