As of Friday close, Mirati Therapeutics Inc.’s (NASDAQ:MRTX) stock was down -$0.46, moving down -1.18 percent to $38.59. The average number of shares traded per day over the past five days has been 927,560 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.22 fall in that time frame. In the last twenty days, the average volume was 1,559,795, while in the previous 50 days, it was 1,253,662.
Since last month, MRTX stock rose 14.14%. Shares of the company fell to $27.30 on 08/08/23, the lowest level in the past month. A 52-week high of $101.30 was reached on 01/31/23 after having rallying from a 52-week low of $27.30. Since the beginning of this year, MRTX’s stock price has dropped by -14.83% or -$6.72, and marked a new high 8 times. However, the stock has declined by -61.91% since its 52-week high.
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MRTX stock investors should be aware that Mirati Therapeutics Inc. (MRTX) stock had its last reported insider trading activity 8 days ago on Aug 11. Boxer Capital, LLC, the of the company, purchased of 1,201,440 shares for $27.80 on Aug 11. It resulted in a $33,400,032 investment by the insider. Boxer Capital, LLC added 1,201,440 shares at an average price of $27.80 on Aug 11. The insider now owns 3,201,440 shares following the transaction. On Aug 11, Boxer Capital, LLC bought 57,533 shares at $27.80 apiece. The transaction was valued at $1,599,417.
Valuation Metrics
The stock’s beta is 0.84. Besides these, the trailing price-to-sales (P/S) ratio of 83.98, the price-to-book (PB) ratio of 3.08.
Financial Health
In the three months ended June 29, Mirati Therapeutics Inc.’s quick ratio stood at 5.80, while its current ratio was 5.80, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 90.10% percent. Based on annual data, MRTX earned $11.84 million in gross profit and brought in $12.44 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -76.30%. Return on equity (ROE) for the past 12 months was -79.40%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. MRTX’s revenue rose 60.85% to $7.17 million during the quarter, while net income inched up to $13.69 million. While analysts expected Mirati Therapeutics Inc. to report -$3.17 quarterly earnings, the actual figure was -$3.04 per share, beating the consensus estimate by 4.10%. During the quarter, the company generated -$191.59 million in EBITDA. The liabilities of Mirati Therapeutics Inc. were 186.09 million at the end of its most recent quarter ended June 29, and its total debt was $50.68 million. The value of shareholders’ equity is $58.6 million.
Technical Picture
This quick technical analysis looks at Mirati Therapeutics Inc.’s (MRTX) price momentum. With a historical volatility rate of 142.27%, the RSI 9-day stood at 65.69% on 18 August.
With respect to its five-day moving average, the current Mirati Therapeutics Inc. price is down by -0.57% percent or -$0.22. At present, MRTX shares trade +23.25% above its 20-day simple moving average and +2.69% percent above its 100-day simple moving average. However, the stock is currently trading approximately -2.28% below its SMA50 and -42.68% below its SMA200.
Stochastic coefficient K was 86.47% and Stochastic coefficient D was 89.71%, while ATR was 1.95. Given the Stochastic reading of 82.59% for the 14-day period, the RSI (14) reading has been calculated as 61.43%. As of today, the MACD Oscillator reading stands at 1.36, while the 14-day reading stands at 4.32.
Analyst Ratings
Citigroup upgraded its rating on Mirati Therapeutics Inc. (NASDAQ: MRTX) to a Buy in a note to investors on August 10, 2023. The analysts firm previously had a Neutral rating on the stock.Mirati Therapeutics Inc. (MRTX) has been rated Overweight by analysts. According to 1 brokerage firm, MRTX is a sell, and 5 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Mirati Therapeutics Inc. stock as buy, with 13 recommending it as overweight.
With a median target price of $48.00, the current consensus forecast for the stock is $24.00 – $91.00. Based on these forecasts, analysts predict Mirati Therapeutics Inc. (MRTX) will achieve an average price target of $54.24.
