Mirati Therapeutics Inc (NASDAQ:MRTX) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 1,561 put options on the stock. This represents an increase of 1,359% compared to the average daily volume of 107 put options.

Shares of MRTX opened at $73.86 on Friday. The company has a market cap of $2.78 billion, a P/E ratio of -23.15 and a beta of 2.12. Mirati Therapeutics has a twelve month low of $24.65 and a twelve month high of $80.00.

MRTX has been the subject of several analyst reports. Oppenheimer raised their price target on shares of Mirati Therapeutics from $57.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, January 16th. BidaskClub raised shares of Mirati Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 5th. HC Wainwright reissued a “buy” rating on shares of Mirati Therapeutics in a research report on Friday, February 15th. Piper Jaffray Companies initiated coverage on shares of Mirati Therapeutics in a research report on Friday, February 15th. They set an “overweight” rating and a $85.00 price target for the company. Finally, Cantor Fitzgerald initiated coverage on shares of Mirati Therapeutics in a research report on Monday, March 4th. They set a “neutral” rating and a $66.00 price target for the company. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Mirati Therapeutics currently has a consensus rating of “Buy” and an average target price of $68.82.

In other news, major shareholder Venbio Select Advisor Llc sold 125,000 shares of Mirati Therapeutics stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $76.55, for a total transaction of $9,568,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Aaron I. Davis sold 50,000 shares of Mirati Therapeutics stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $47.68, for a total transaction of $2,384,000.00. Following the transaction, the director now owns 70,409 shares of the company’s stock, valued at $3,357,101.12. The disclosure for this sale can be found here. Insiders have sold 1,999,911 shares of company stock valued at $131,856,770 over the last quarter. Company insiders own 4.86% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its position in Mirati Therapeutics by 3.0% in the 4th quarter. FMR LLC now owns 2,196,388 shares of the biotechnology company’s stock worth $93,171,000 after purchasing an additional 63,699 shares during the period. BlackRock Inc. grew its position in Mirati Therapeutics by 30.0% in the 4th quarter. BlackRock Inc. now owns 2,052,949 shares of the biotechnology company’s stock worth $87,086,000 after purchasing an additional 474,097 shares during the period. Vanguard Group Inc grew its position in Mirati Therapeutics by 1.9% in the 3rd quarter. Vanguard Group Inc now owns 1,431,905 shares of the biotechnology company’s stock worth $67,443,000 after purchasing an additional 26,316 shares during the period. Vanguard Group Inc. grew its position in Mirati Therapeutics by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,431,905 shares of the biotechnology company’s stock worth $67,443,000 after purchasing an additional 26,316 shares during the period. Finally, Jennison Associates LLC grew its position in Mirati Therapeutics by 21.8% in the 4th quarter. Jennison Associates LLC now owns 1,216,464 shares of the biotechnology company’s stock worth $51,602,000 after purchasing an additional 217,960 shares during the period.

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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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