UBS Asset Management Americas Inc. Buys 128,939 Shares of Mirati Therapeutics Inc (NASDAQ:MRTX)
UBS Asset Management Americas Inc. grew its stake in Mirati Therapeutics Inc (NASDAQ:MRTX) by 54.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 364,532 shares of the biotechnology company’s stock after purchasing an additional 128,939 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.92% of Mirati Therapeutics worth $46,974,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of Mirati Therapeutics in the fourth quarter valued at about $964,000. Bank of New York Mellon Corp raised its holdings in Mirati Therapeutics by 4.9% during the 4th quarter. Bank of New York Mellon Corp now owns 124,363 shares of the biotechnology company’s stock worth $16,025,000 after purchasing an additional 5,767 shares during the last quarter. Fred Alger Management LLC raised its holdings in Mirati Therapeutics by 4.2% during the 4th quarter. Fred Alger Management LLC now owns 12,500 shares of the biotechnology company’s stock worth $1,611,000 after purchasing an additional 500 shares during the last quarter. Guggenheim Capital LLC bought a new position in Mirati Therapeutics during the 4th quarter worth approximately $4,164,000. Finally, Sofinnova Investments Inc. raised its holdings in Mirati Therapeutics by 251.9% during the 4th quarter. Sofinnova Investments Inc. now owns 108,383 shares of the biotechnology company’s stock worth $13,966,000 after purchasing an additional 77,583 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors.
MRTX traded up $1.35 during midday trading on Wednesday, hitting $82.81. The stock had a trading volume of 394,600 shares, compared to its average volume of 608,773. The company has a market cap of $3.54 billion, a P/E ratio of -14.68 and a beta of 2.10. The business has a fifty day moving average of $86.82 and a 200 day moving average of $93.32. Mirati Therapeutics Inc has a 1 year low of $55.11 and a 1 year high of $132.59.
MRTX has been the topic of a number of recent analyst reports. Zacks Investment Research cut Mirati Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 29th. ValuEngine raised Mirati Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, March 3rd. BMO Capital Markets initiated coverage on Mirati Therapeutics in a report on Monday, January 27th. They set a “market perform” rating and a $101.00 price objective for the company. Cowen reissued a “buy” rating on shares of Mirati Therapeutics in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. raised Mirati Therapeutics from an “underweight” rating to a “neutral” rating and set a $88.00 price objective for the company in a report on Thursday, March 12th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Mirati Therapeutics presently has an average rating of “Buy” and a consensus target price of $108.93.
In other news, major shareholder Boxer Capital, Llc acquired 50,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was acquired at an average price of $97.50 per share, for a total transaction of $4,875,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.70% of the stock is currently owned by corporate insiders.
Mirati Therapeutics 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 is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.
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