5 Best Biotech Stocks to Buy According to Joseph Edelman’s Perceptive Advisors

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1. Mirati Therapeutics, Inc. (NASDAQ:MRTX)

Edelman’s Stake Value: $514,618,000

Percentage of Joseph Edelman’s 13F Portfolio: 6.67%

Number of Hedge Fund Holders: 55

Mirati Therapeutics, Inc. is a California-based clinical-stage biotechnology company that is working to produce breakthrough treatments for people diagnosed with cancer. Founded in 1995, Mirati Therapeutics, Inc. (NASDAQ: MRTX) actively seeks collaboration opportunities to delve deeper into the science behind tumor growth and development. 13F filings reveal that Perceptive Advisors owned around 3.19 million shares in Mirati Therapeutics, Inc. (NASDAQ: MRTX) at the end of the second quarter of 2021, worth over $514.6 million.

On September 22, investment advisory Stifel initiated a Buy rating on  Mirati Therapeutics, Inc. (NASDAQ: MRTX) with a $202 price target, noting that the recent developments in the company’s clinical program Adagrasib put forward an expansion opportunity. 

As of the second quarter of 2021, 55 hedge funds out of the 873 tracked by Insider Monkey held stakes worth $2.79 billion in Mirati Therapeutics, Inc. (NASDAQ: MRTX), in comparison to 57 funds in the preceding quarter.

You can also take a peek at the 10 Quarterly Dividend REIT Stocks to Buy and 15 Largest Electronics Companies in the World.

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