On May 24, 2023, Jamie Christensen, the Executive Vice President and Chief Scientific Officer of Mirati Therapeutics Inc (MRTX, Financial), sold 619 shares of the company's stock. This recent transaction is part of a broader trend of insider selling at Mirati Therapeutics Inc, a clinical-stage biotechnology company focused on developing novel therapeutics for the treatment of cancer.
Who is Jamie Christensen?
Jamie Christensen serves as the Executive Vice President and Chief Scientific Officer at Mirati Therapeutics Inc. In this role, Christensen is responsible for overseeing the company's research and development efforts, as well as guiding the strategic direction of its scientific programs. With a strong background in oncology research, Christensen plays a crucial role in advancing Mirati's mission to develop innovative cancer therapies.
Mirati Therapeutics Inc's Business Description
Mirati Therapeutics Inc is a clinical-stage biotechnology company that focuses on discovering and developing targeted oncology therapies. The company's pipeline includes a range of small molecule drugs designed to target specific genetic and epigenetic drivers of cancer. Mirati's goal is to develop novel therapeutics that can improve the lives of cancer patients by providing more effective and less toxic treatment options.
Jamie Christensen's Insider Trading Activity
Over the past year, Jamie Christensen has sold a total of 8,949 shares of Mirati Therapeutics Inc and has not purchased any shares. This recent sale of 619 shares is in line with Christensen's trading activity over the past year, which has been characterized by insider selling.
Insider Trends at Mirati Therapeutics Inc
The insider transaction history for Mirati Therapeutics Inc reveals that there have been no insider buys over the past year. In contrast, there have been 15 insider sells during the same period. This trend suggests that insiders may be less optimistic about the company's future prospects or may be taking advantage of a higher stock price to realize gains.
Valuation of Mirati Therapeutics Inc
On the day of Jamie Christensen's recent sale, shares of Mirati Therapeutics Inc were trading at $45.29 apiece, giving the stock a market capitalization of $2,225.649 million. With a GuruFocus Value of $186.75, the stock has a price-to-GF-Value ratio of 0.24, indicating that it may be a possible value trap and investors should think twice before investing.
The GF Value is an intrinsic value estimate developed by GuruFocus, which is calculated based on the following three factors:
- Historical multiples (price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow) that the stock has traded at.
- A GuruFocus adjustment factor based on the company's past returns and growth.
- Future estimates of business performance from Morningstar analysts.
In conclusion, the recent insider sell by Jamie Christensen, along with the broader trend of insider selling at Mirati Therapeutics Inc, may raise concerns for potential investors. The stock's valuation, as indicated by its price-to-GF-Value ratio, suggests that it may be a possible value trap. Investors should carefully consider these factors before making any investment decisions regarding Mirati Therapeutics Inc.
