Log in

Stock Traders Purchase High Volume of Mirati Therapeutics Call Options (NASDAQ:MRTX)

Last updated on Thursday, September 17, 2020 | 2020 MarketBeat

Mirati Therapeutics Inc (NASDAQ:MRTX) saw some unusual options trading activity on Thursday. Traders bought 3,421 call options on the company. This is an increase of approximately 880% compared to the typical volume of 349 call options.

In other Mirati Therapeutics news, Director Henry J. Fuchs sold 10,000 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $131.38, for a total value of $1,313,800.00. Following the completion of the transaction, the director now owns 12,000 shares of the company's stock, valued at $1,576,560. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.10% of the company's stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC acquired a new position in Mirati Therapeutics during the 2nd quarter worth approximately $63,000. Point72 Hong Kong Ltd acquired a new position in Mirati Therapeutics during the 2nd quarter worth approximately $96,000. Column Capital Advisors LLC grew its holdings in Mirati Therapeutics by 27.4% during the 1st quarter. Column Capital Advisors LLC now owns 1,073 shares of the biotechnology company's stock worth $82,000 after acquiring an additional 231 shares in the last quarter. First Mercantile Trust Co. grew its holdings in Mirati Therapeutics by 18.4% during the 1st quarter. First Mercantile Trust Co. now owns 1,205 shares of the biotechnology company's stock worth $93,000 after acquiring an additional 187 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in Mirati Therapeutics during the 1st quarter worth approximately $113,000.

Shares of MRTX stock traded up $3.12 during trading on Thursday, reaching $165.68. The company's stock had a trading volume of 13,646 shares, compared to its average volume of 505,905. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of -23.73 and a beta of 1.80. The stock's 50-day moving average price is $136.72 and its 200 day moving average price is $107.09. Mirati Therapeutics has a 1-year low of $66.01 and a 1-year high of $165.36.

Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($1.89) earnings per share for the quarter, beating analysts' consensus estimates of ($2.10) by $0.21. Mirati Therapeutics had a negative net margin of 10,983.84% and a negative return on equity of 57.01%. Sell-side analysts anticipate that Mirati Therapeutics will post -8.38 EPS for the current fiscal year.

MRTX has been the topic of several research reports. HC Wainwright raised their price target on shares of Mirati Therapeutics from $163.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday. Oppenheimer raised their price target on shares of Mirati Therapeutics from $105.00 to $133.00 in a research note on Monday, August 10th. Credit Suisse Group raised their price target on shares of Mirati Therapeutics from $135.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Barclays lifted their target price on shares of Mirati Therapeutics from $123.00 to $143.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, BidaskClub downgraded shares of Mirati Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, September 5th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of "Buy" and an average price target of $128.45.

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.

Featured Story: Market Perform

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

7 Boring Stocks That Are Winners

Some stocks just don’t get much attention during bull markets. They can be too boring for a growth portfolio. But when the market is going through a period of volatility and uncertainty, these tried-and-true performers have a way of making their way back to popularity.

And there are good reasons for this. First, many of these boring stocks pay dividends. This simply means that the company will reward shareholders simply for holding on to its stock. Dividend stocks aren’t designed to make you rich quickly. However they are designed to offer investors an amount of predictability. And we could all use a little bit of that right now.

And predictable stocks can also help investors manage risk. It can be fun to invest in speculative stocks. But they include a risk premium. When these stocks go up (as they sometimes do) they usually have a return that exceeds the broader market. But when they go down (and they usually do) they usually go down more than the broader market.

But “boring” stocks tend to move closer to the broader market. If you want an analogy from current events, these stocks flatten the curve. They won’t soar as high as riskier stocks, but they won’t sink as low either. And right now, preserving capital should be the number one item on every investor’s checklist.

With that in mind, we’ve created this special presentation to highlight 7 conservative stocks that can help investors win this moment in time. Many of them pay dividends; some do not. But they all have solid fundamental reasons to own them now.

View the "7 Boring Stocks That Are Winners".

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.