Mirati Therapeutics Inc. [MRTX] Revenue clocked in at $72.80 million, down -72.86% YTD: What’s Next?

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Mirati Therapeutics Inc. [NASDAQ: MRTX] loss -31.90% on the last trading session, reaching $39.81 price per share at the time. The company report on May 26, 2022 that Investigational Adagrasib Delivers Positive Results in Registration-Enabling Study of Patients with KRASG12C-Mutated Advanced Non-Small Cell Lung Cancer.


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Mirati Therapeutics, Inc. (NASDAQ: MRTX), a clinical-stage targeted oncology company, today announced positive results from the registration-enabling Phase 2 cohort of the KRYSTAL-1 study evaluating adagrasib 600 mg BID in patients with non-small cell lung cancer (NSCLC) harboring the KRASG12C mutation who have received at least one prior systemic therapy. Findings will be presented on June 3 at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting, as an oral presentation during the “Lung Cancer – Non-Small Cell Metastatic” session from 2:24 to 2:36 PM ET/ 1:24 to 1:36 PM CT (Abstract #9002).

Summary of Clinical Results from Phase 2 Registration-Enabling Study  .

Mirati Therapeutics Inc. represents 55.47 million in outstanding shares, while the company has a total market value of $3.25 billion with the latest information. MRTX stock price has been found in the range of $32.96 to $40.51.

If compared to the average trading volume of 699.58K shares, MRTX reached a trading volume of 12879517 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Mirati Therapeutics Inc. [MRTX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MRTX shares is $129.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MRTX stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Guggenheim have made an estimate for Mirati Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 20, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $171 to $141. The new note on the price target was released on February 01, 2022, representing the official price target for Mirati Therapeutics Inc. stock. Previously, the target price had yet another raise to $187, while BMO Capital Markets analysts kept a Outperform rating on MRTX stock.

The Average True Range (ATR) for Mirati Therapeutics Inc. is set at 5.64, with the Price to Sales ratio for MRTX stock in the period of the last 12 months amounting to 44.59. The Price to Book ratio for the last quarter was 1.77, with the Price to Cash per share for the same quarter was set at 16.27.

Trading performance analysis for MRTX stock

Mirati Therapeutics Inc. [MRTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -37.16. With this latest performance, MRTX shares dropped by -38.06% in over the last four-week period, additionally sinking by -70.89% over the last 6 months – not to mention a drop of -74.83% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MRTX stock in for the last two-week period is set at 24.90, with the RSI for the last a single of trading hit 20.82, and the three-weeks RSI is set at 27.67 for Mirati Therapeutics Inc. [MRTX]. The present Moving Average for the last 50 days of trading for this stock 70.68, while it was recorded at 55.73 for the last single week of trading, and 122.51 for the last 200 days.

Mirati Therapeutics Inc. [MRTX]: A deeper dive into fundamental analysis

Mirati Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.90 and a Current Ratio set at 10.90.

An analysis of insider ownership at Mirati Therapeutics Inc. [MRTX]

There are presently around $2,299 million, in the hands of institutional investors. The top three institutional holders of MRTX stocks are: AVORO CAPITAL ADVISORS LLC with ownership of 5,325,000, which is approximately 4.926% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 4,482,810 shares of the stock with an approximate value of $178.46 million in MRTX stocks shares; and AVIVA HOLDINGS LTD., currently with $124.84 million in MRTX stock with ownership of nearly 0% of the company’s market capitalization.

161 institutional holders increased their position in Mirati Therapeutics Inc. [NASDAQ:MRTX] by around 7,626,958 shares. Additionally, 141 investors decreased positions by around 6,856,535 shares, while 24 investors held positions by with 43,271,206 shares. The mentioned changes placed institutional holdings at 57,754,699 shares, according to the latest SEC report filing. MRTX stock had 59 new institutional investments in for a total of 2,103,705 shares, while 69 institutional investors sold positions of 2,385,185 shares during the same period.

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