Mirati Therapeutics Inc. (NASDAQ: MRTX) stock jumped 0.03% on Friday to $33.05 against a previous-day closing price of $33.04. With 1.36 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.18 million shares. The 52-week range on MRTX shows that it touched its highest point at $101.30 and its lowest point at $27.30 during that stretch. It currently has a 1-year price target of $54.24. Beta for the stock currently stands at 0.91.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MRTX was down-trending over the past week, with a drop of -7.32%, but this was down by -16.79% over a month. Three-month performance dropped to -15.19% while six-month performance fell -22.91%. The stock lost -59.63% in the past year, while it has lost -27.06% so far this year. A look at the trailing 12-month EPS for MRTX yields -12.82 with Next year EPS estimates of -10.01. For the next quarter, that number is -2.83. This implies an EPS growth rate of -17.50% for this year and 14.70% for next year.
Float and Shares Shorts:
At present, 68.01 million MRTX shares are outstanding with a float of 65.88 million shares on hand for trading. On Aug 30, 2023, short shares totaled 9.46 million, which was 13.54% higher than short shares on Jul 30, 2023. In addition to Dr. Charles M. Baum M.D., Ph.D. as the firm’s Founder, Interim CEO, Pres, Head of R&D and Director, Dr. James G. Christensen Ph.D. serves as its Exec. VP & Chief Scientific Officer.
Institutional Ownership:
Other institutions hold 56.74% of MRTX, in contrast to 33.40% held by mutual funds. Shares owned by individuals account for 31.97%. As the largest shareholder in MRTX with 7.95% of the stake, Avoro Capital Advisor LLC holds 5,555,555 shares worth 5,555,555. A second-largest stockholder of MRTX, The Vanguard Group, Inc., holds 4,915,595 shares, controlling over 7.03% of the firm’s shares. RTW Investments LP is the third largest shareholder in MRTX, holding 4,472,985 shares or 6.40% stake. With a 3.66% stake in MRTX, the Vanguard Health Care Fund is the largest stakeholder. A total of 2,554,515 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.72% of MRTX stock, is the second-largest Mutual Fund holder. It holds 1,902,324 shares valued at 70.77 million. SPDR S&P Biotech ETF holds 2.71% of the stake in MRTX, owning 1,890,839 shares worth 70.34 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, MRTX reported revenue of $5.36M and operating income of -$177.21M. The EBITDA in the recently reported quarter was -$176.51M and diluted EPS was -$3.18.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MRTX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MRTX analysts setting a high price target of $91.00 and a low target of $24.00, the average target price over the next 12 months is $54.53. Based on these targets, MRTX could surge 175.34% to reach the target high and fall by -27.38% to reach the target low. Reaching the average price target will result in a growth of 64.99% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded MRTX stock several times over the past three months with 12 Buys and 0 Sells. In these transactions, 2,701,831 shares were bought while 0 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 3,140,665 while 112,835 shares were sold.
