Avidity Partners Management LP Sells 58,600 Shares of Natera, Inc. $NTRA

Key Points

• Avidity Partners Management LP sharply reduced its Natera stake in the fourth quarter, selling 58,600 shares and cutting its holdings by 83.2% to 11,800 shares valued at about $2.7 million.
• Other institutional investors were active in Natera as well, with firms like Arrowstreet Capital boosting positions significantly; overall, institutions own 99.90% of the company’s stock.
• Analysts remain mostly positive on Natera, with several firms raising or reaffirming bullish price targets and an average rating of “Moderate Buy” with a target price of $256.53, even as insiders have sold shares recently.

Avidity Partners Management LP decreased its holdings in shares of Natera, Inc. (NASDAQ:NTRA - Free Report) by 83.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,800 shares of the medical research company's stock after selling 58,600 shares during the quarter. Natera comprises approximately 0.8% of Avidity Partners Management LP's holdings, making the stock its 29th largest position. Avidity Partners Management LP's holdings in Natera were worth $2,703,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Aigen Investment Management LP bought a new stake in shares of Natera in the 4th quarter worth approximately $251,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Natera by 111.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,179,939 shares of the medical research company's stock worth $270,312,000 after acquiring an additional 620,954 shares during the period. Aptus Capital Advisors LLC lifted its position in shares of Natera by 18.5% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,568 shares of the medical research company's stock worth $359,000 after acquiring an additional 245 shares during the period. Alamea Verwaltungs GmbH lifted its position in shares of Natera by 2.9% in the 4th quarter. Alamea Verwaltungs GmbH now owns 2,229 shares of the medical research company's stock worth $515,000 after acquiring an additional 62 shares during the period. Finally, Apriem Advisors bought a new stake in shares of Natera in the 4th quarter worth approximately $268,000. Institutional investors own 99.90% of the company's stock.

Insider Buying and Selling at Natera

In related news, insider Solomon Moshkevich sold 3,405 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $203.69, for a total transaction of $693,564.45. Following the completion of the transaction, the insider owned 142,295 shares in the company, valued at $28,984,068.55. This trade represents a 2.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Steven Leonard Chapman sold 41,124 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $221.03, for a total value of $9,089,637.72. Following the transaction, the chief executive officer owned 108,743 shares of the company's stock, valued at $24,035,465.29. This trade represents a 27.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 159,378 shares of company stock worth $34,640,860 over the last three months. 5.05% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on NTRA shares. JPMorgan Chase & Co. raised their price objective on Natera from $260.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. William Blair started coverage on Natera in a research report on Tuesday, April 14th. They issued an "outperform" rating for the company. Royal Bank Of Canada started coverage on Natera in a research report on Thursday. They issued an "outperform" rating and a $275.00 price objective for the company. Piper Sandler reiterated an "overweight" rating and issued a $249.00 price objective on shares of Natera in a research report on Tuesday, May 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Natera in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $256.53.

Natera Price Performance

Natera stock opened at $212.07 on Friday. The company has a market capitalization of $30.37 billion, a PE ratio of -130.10 and a beta of 1.56. Natera, Inc. has a one year low of $131.81 and a one year high of $256.36. The business has a 50 day simple moving average of $206.49 and a 200 day simple moving average of $215.99.

About Natera

Natera is a global diagnostics company that develops and commercializes cell-free DNA and other genetic testing technologies for clinical applications. The company focuses on three principal areas: reproductive health (including non-invasive prenatal testing and carrier screening), oncology (tumor-informed assays for minimal residual disease and recurrence monitoring), and organ transplantation (cell-free DNA tests to detect allograft injury). Natera combines laboratory testing, proprietary bioinformatics, and clinical reporting to deliver personalized genetic information to clinicians and patients.

Key product offerings include Panorama, a non-invasive prenatal test that screens for fetal chromosomal abnormalities and select single-gene conditions; Horizon carrier screening for inherited conditions; Signatera, a personalized, tumor-informed assay used for detecting minimal residual disease and monitoring treatment response in cancer patients; and Prospera, a donor-derived cell-free DNA test used to assess the risk of organ rejection.

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