Fred Alger Management LLC Has $417.52 Million Holdings in Natera, Inc. $NTRA

Key Points

• Fred Alger Management reduced its Natera stake by 25.7% in the fourth quarter, selling 629,271 shares and ending with 1,822,508 shares valued at about $417.5 million. Natera still represents 1.6% of the firm’s portfolio and its 13th largest holding.
• Institutional ownership remains extremely high, with 99.90% of Natera stock held by institutional investors and hedge funds. Several smaller funds either initiated positions or increased their stakes during the quarter.
• Analyst sentiment is mostly positive, with a consensus rating of “Moderate Buy” and an average price target of $256.53. Recent coverage included buy/outperform calls from Wolfe Research, Morgan Stanley, Piper Sandler, and William Blair, though Weiss Ratings maintained a sell rating.

Fred Alger Management LLC cut its holdings in Natera, Inc. (NASDAQ:NTRA - Free Report) by 25.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,822,508 shares of the medical research company's stock after selling 629,271 shares during the quarter. Natera accounts for 1.6% of Fred Alger Management LLC's investment portfolio, making the stock its 13th largest holding. Fred Alger Management LLC owned about 1.32% of Natera worth $417,518,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NTRA. Palladiem LLC acquired a new position in shares of Natera during the fourth quarter worth approximately $31,000. Bank of Jackson Hole Trust raised its position in shares of Natera by 103.8% during the fourth quarter. Bank of Jackson Hole Trust now owns 163 shares of the medical research company's stock worth $37,000 after purchasing an additional 83 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of Natera during the fourth quarter worth approximately $41,000. Greenline Wealth Management LLC acquired a new position in shares of Natera during the fourth quarter worth approximately $41,000. Finally, Horizon Investments LLC acquired a new position in shares of Natera during the third quarter worth approximately $32,000. 99.90% of the stock is owned by institutional investors and hedge funds.

Natera Price Performance

Shares of NASDAQ:NTRA opened at $220.11 on Wednesday. The company has a market capitalization of $31.52 billion, a PE ratio of -135.04 and a beta of 1.56. The business has a fifty day moving average price of $206.92 and a two-hundred day moving average price of $215.57. Natera, Inc. has a 1 year low of $131.81 and a 1 year high of $256.36.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NTRA. Wolfe Research began coverage on Natera in a research report on Tuesday, June 2nd. They set an "outperform" rating and a $260.00 target price on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Natera in a research report on Tuesday, April 21st. Morgan Stanley lowered their target price on Natera from $265.00 to $250.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $249.00 target price on shares of Natera in a research report on Tuesday, May 12th. Finally, William Blair began coverage on Natera in a research report on Tuesday, April 14th. They set an "outperform" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $256.53.

Insider Transactions at Natera

In other Natera news, CFO Michael Burkes Brophy sold 3,070 shares of the company's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $193.74, for a total value of $594,781.80. Following the completion of the transaction, the chief financial officer owned 58,291 shares in the company, valued at $11,293,298.34. This represents a 5.00% decrease in their position. The sale was disclosed in a document filed 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 company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $221.03, for a total value of $9,089,637.72. Following the completion of 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. Over the last three months, insiders have sold 159,378 shares of company stock worth $34,640,860. Company insiders own 5.05% of the company's stock.

Natera Company Profile

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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