Stocks of Mirati Therapeutics Inc. (NASDAQ:MRTX) traded higher last session on Wall Street, down -11.57% to $43.85.
MRTX stock price is now -39.20% away from the 50-day moving average and -38.85% away from the 200-day moving average. The market capitalization of the company currently stands at $2.40B.
With the price target reduced from $94 to $65, JP Morgan Downgraded its rating from Overweight to Neutral for Mirati Therapeutics Inc. (NASDAQ: MRTX). On December 08, 2022, BMO Capital Markets Downgraded its previous ‘Outperform’ rating to ‘Market Perform’ on the stock reducing its target price from $110 to quote $59, while ‘B. Riley Securities’ rates the stock as ‘Neutral’.
In other news, Christensen Jamie, EVP, Chief Scientific Officer sold 1,726 shares of the company’s stock on Dec 02. The stock was sold for $155,667 at an average price of $90.19. Upon completion of the transaction, the EVP, Chief Scientific Officer now directly owns 104,482 shares in the company, valued at $4.58 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 28, President,Founder,Head of R&D BAUM CHARLES M sold 69,256 shares of the business’s stock. A total of $6,925,600 was realized by selling the stock at an average price of $100.00. This leaves the insider owning 127,899 shares of the company worth $5.61 million. Insiders disposed of 43,456 shares of company stock worth roughly $1.91 million over the past 1 year. A total of 0.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MRTX stock. A new stake in Mirati Therapeutics Inc. shares was purchased by ADAGE CAPITAL PARTNERS GP, L.L.C. during the first quarter worth $62,212,000. ECOR1 CAPITAL, LLC invested $44,533,000 in shares of MRTX during the first quarter. In the first quarter, ARROWMARK COLORADO HOLDINGS LLC acquired a new stake in Mirati Therapeutics Inc. valued at approximately $19,892,000. OCTAGON CAPITAL ADVISORS LP acquired a new stake in MRTX for approximately $9,691,000. TRI LOCUM PARTNERS LP purchased a new stake in MRTX valued at around $6,645,000 in the second quarter.
Thursday’s opening bell rang with an opening price of $46.50 for Mirati Therapeutics Inc. (NASDAQ: MRTX). During the past 12 months, Mirati Therapeutics Inc. has had a low of $32.96 and a high of $154.17. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 9.70, and a quick ratio of 9.70. The fifty day moving average price for MRTX is $72.13 and a two-hundred day moving average price translates $71.70 for the stock.
The latest earnings results from Mirati Therapeutics Inc. (NASDAQ: MRTX) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at -$3.18, beating analysts’ expectations of -$3.49 by 0.31. This compares to -$1.55 EPS in the same period last year. The company reported revenue of $5.43 million for the quarter, compared to $71.79 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -92.44 percent. For the current quarter, analysts expect MRTX to generate $1.26M in revenue.
Mirati Therapeutics Inc.(MRTX) Company Profile
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. It has a collaboration and license agreement with BeiGene, Ltd. to develop, manufacture, and commercialize sitravatinib. Mirati Therapeutics, Inc. was founded in 1995 and is headquartered in San Diego, California.