Trading volume for Mirati Therapeutics was 954K in the last trading session. Overall, volume was up 131.22% over the stocks normal daily volume.
Investors are feeling more bearish on Mirati Therapeutics of late if you put credence in the change in short interest. The company had a rise in short interest from September 29, 2017 to October 13, 2017 of 23.31%. Short shares grew from 1,013,843 to 1,250,193 over that period. Days to cover increased 2.0 to 2.0 and the short interest percentage is 0.05% as of October 13.
There has been some selling insider activity on Mirati Therapeutics (NASDAQ:MRTX) recently. Jamie Christensen, SVP, Chief Science Officer reported the sale of 4,000 shares of (MRTX). The shares were sold on October 4th for an average price of $14.00. Christensen now owns $37,380 of the stock per the Form 4 SEC filing. Jamie Christensen, SVP, Chief Science Officer sold $9,240 worth of shares at an average price of $12.00 on September 15th. That brings the SVP, Chief Science Officer’s holdings to $32,040 per an SEC filing yesterday.
Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Citadel Advisors LLC had disposed of a total of 2,586 shares trimming its stake by 20.2%. The value of the company’s investment in Mirati Therapeutics went from $274,000 to $120,000 decreasing 56.2% quarter over quarter. Bank Of NEW York Mellon Corp expanded its ownership by buying 1,186 shares an increase of 8.0% as of 09/30/2017. Bank Of NEW York Mellon Corp currently owns 15,935 shares with a value of $186,000. The total value of its holdings increased 244.4%.
Wells Fargo & Company/mn reduced its position by shedding 13,524 shares a decrease of 95.1%. Wells Fargo & Company/mn now holds 700 shares worth $8,000. The value of the position overall is down by 89.2%. Dimensional Fund Advisors Lp augmented its stake by buying 137,104 shares an increase of 68.7% in the quarter. Dimensional Fund Advisors Lp now controls 336,667 shares valued at $3,939,000. The value of the position overall is up by 441.1%.
On November 7, 2017 HC Wainwright maintained a “Buy” rating on the company. October 12 investment analysts at HC Wainwright made no change to the stock rating of “Buy” targeting a price of $20.00.
On October 12 SunTrust Banks maintained a stock rating of “Buy” projecting a price of $13.00. On October 2 SunTrust Banks held the company rating at “Buy” with a current price target of $13.00.
On September 19, 2017 Cann released guidance on MRTX with a rating of “Outperform”. Equity analyst CIBC issued a report on MRTX by announcing an initial rating of “Outperform”.
The company is now up since yesterday’s close of 13.2. The P/E ratio is N/A and market cap is 333.98M. In the last earnings report the EPS was $-3.11 with 25.30M shares presently outstanding.
Mirati Therapeutics, Inc., launched on April 29, 2013, is a clinical-stage biopharmaceutical company. The Company is focused on developing a pipeline of targeted oncology products. The Business’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..