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. With a strong background in oncology research and drug discovery, Christensen plays a crucial role in the company's efforts to develop innovative cancer treatments. His expertise and leadership have been instrumental in advancing Mirati's pipeline of targeted therapeutics.
About Mirati Therapeutics Inc
Mirati Therapeutics Inc is a clinical-stage biotechnology company that focuses on the development of novel therapeutics for the treatment of cancer. The company's mission is to discover, design, and deliver breakthrough oncology therapies that target genetic and immunological drivers of cancer. Mirati's product candidates aim to improve the lives of patients by addressing the limitations of existing cancer therapies and providing new 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 12 months.
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 taking advantage of the stock's current valuation to realize gains on their holdings.
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 $2,212.846 million.
With a price of $45.29 and a GuruFocus Value of $187.34, Mirati Therapeutics Inc has a price-to-GF-Value ratio of 0.24. Based on this metric, the stock is considered a possible value trap, and investors should think twice before making a decision.
The GF Value is an intrinsic value estimate developed by GuruFocus, 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 current valuation, as indicated by its price-to-GF-Value ratio, suggests that it may be a value trap. Investors should carefully consider these factors before making any investment decisions regarding Mirati Therapeutics Inc.
