The stock of Mirati Therapeutics, Inc. (NASDAQ:MRTX) is a huge mover today! About 127,844 shares traded hands. Mirati Therapeutics, Inc. (NASDAQ:MRTX) has declined 79.53% since April 4, 2016 and is downtrending. It has underperformed by 80.62% the S&P500.
The move comes after 7 months positive chart setup for the $94.64M company. It was reported on Nov, 4 by Barchart.com. We have $8.81 PT which if reached, will make NASDAQ:MRTX worth $68.14 million more.
Mirati Therapeutics, Inc. (NASDAQ:MRTX) Ratings Coverage
Out of 7 analysts covering Mirati Therapeutics (NASDAQ:MRTX), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. Mirati Therapeutics has been the topic of 14 analyst reports since September 17, 2015 according to StockzIntelligence Inc. The stock of Mirati Therapeutics, Inc. (NASDAQ:MRTX) has “Buy” rating given on Monday, June 6 by Citigroup. Leerink Swann downgraded Mirati Therapeutics, Inc. (NASDAQ:MRTX) on Monday, June 6 to “Mkt Perform” rating. Citigroup upgraded the stock to “Buy” rating in Wednesday, January 13 report. The stock of Mirati Therapeutics, Inc. (NASDAQ:MRTX) has “Neutral” rating given on Thursday, September 17 by Piper Jaffray. Barclays Capital initiated Mirati Therapeutics, Inc. (NASDAQ:MRTX) rating on Monday, October 19. Barclays Capital has “Overweight” rating and $50 price target. The rating was maintained by Wedbush on Monday, June 6 with “Outperform”. The stock has “Outperform” rating given by Leerink Swann on Thursday, March 10. Citigroup initiated Mirati Therapeutics, Inc. (NASDAQ:MRTX) on Monday, November 23 with “Neutral” rating. On Monday, June 6 the stock rating was maintained by Barclays Capital with “Overweight”. The stock of Mirati Therapeutics, Inc. (NASDAQ:MRTX) earned “Outperform” rating by Wedbush on Tuesday, May 24.
According to Zacks Investment Research, “Mirati Therapeutics, Inc. is a biopharmaceutical company. It engaged in the development of novel therapeutics for the treatment of cancer. Mirati Therapeutics, Inc., formerly known as MethylGene Inc., is based in Montreal, Canada.”
Insitutional Activity: The institutional sentiment increased to 1.41 in Q2 2016. Its up 0.15, from 1.26 in 2016Q1. The ratio is positive, as 13 funds sold all Mirati Therapeutics, Inc. shares owned while 14 reduced positions. 14 funds bought stakes while 24 increased positions. They now own 10.96 million shares or 21.66% less from 13.99 million shares in 2016Q1.
Credit Suisse Ag, a Switzerland-based fund reported 40,787 shares. Royal Bank & Trust Of Canada has 5,400 shares for 0% of their US portfolio. Swiss National Bank last reported 0% of its portfolio in the stock. Citigroup holds 591 shares or 0% of its portfolio. Morgan Stanley reported 76,731 shares or 0% of all its holdings. Deutsche Natl Bank Ag, a Germany-based fund reported 284,518 shares. Rtw Ltd Limited Liability Company, a New York-based fund reported 131,052 shares. Trexquant Limited Partnership holds 0.03% of its portfolio in Mirati Therapeutics, Inc. (NASDAQ:MRTX) for 48,178 shares. Tower Research Capital Llc (Trc) accumulated 6,974 shares or 0% of the stock. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 365 shares in the company. Millennium Mngmt Limited Co holds 0% of its portfolio in Mirati Therapeutics, Inc. (NASDAQ:MRTX) for 291,098 shares. Citadel Limited Liability Company holds 0% or 22,064 shares in its portfolio. Rhenman Prtnrs Asset Mngmt Ab holds 0.05% of its portfolio in Mirati Therapeutics, Inc. (NASDAQ:MRTX) for 50,000 shares. Tiaa Cref Ltd Co owns 50,372 shares or 0% of their US portfolio. Goldman Sachs Grp has 37,162 shares for 0% of their US portfolio.
Insider Transactions: Since June 6, 2016, the stock had 2 buys, and 1 sale for $5.51 million net activity. Braslyn Ltd. bought $3.75 million worth of Mirati Therapeutics, Inc. (NASDAQ:MRTX) on Monday, June 6. The insider BAKER BROS. ADVISORS LP sold $9.40 million. Another trade for 20,000 shares valued at $141,070 was made by BAUM CHARLES M on Tuesday, June 14.
More notable recent Mirati Therapeutics, Inc. (NASDAQ:MRTX) news were published by: Prnewswire.com which released: “Mirati Therapeutics Reports Financial Results And Provides Business Update For …” on November 03, 2016, also Fool.com with their article: “Why Mirati Therapeutics, Inc.’s Shares Are Being Obliterated Today” published on June 06, 2016, Prnewswire.com published: “Mirati Therapeutics Announces Appointment Of Dr. Bruce LA Carter To Board Of …” on September 29, 2016. More interesting news about Mirati Therapeutics, Inc. (NASDAQ:MRTX) were released by: Prnewswire.com and their article: “Mirati Therapeutics Appoints Chris LeMasters To Role Of Executive Vice …” published on October 04, 2016 as well as Prnewswire.com‘s news article titled: “Mirati Therapeutics Announces Promotion Of Jamie A. Donadio To Chief Financial …” with publication date: March 23, 2016.
MRTX Company Profile
Mirati Therapeutics, Inc., incorporated on April 29, 2013, is a clinical-stage biopharmaceutical company. The Firm is focused on developing a pipeline of targeted oncology products. The Company’s clinical pipeline consists of three product candidates: MGCD265, MGCD516 and mocetinostat. Mocetinostat has completed approximately 10 clinical trials in over 400 patients with a range of hematologic malignancies and solid tumors.
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