Nicholas Investment Partners LP Decreases Stake in Natera, Inc. $NTRA

Key Points

• Nicholas Investment Partners LP cut its stake in Natera by 43.7% in the fourth quarter, selling 15,023 shares and leaving it with 19,353 shares valued at about $4.4 million.
• Institutional ownership in Natera remains extremely high at 99.90%, with several big funds increasing positions, including Norges Bank and JPMorgan Chase & Co.
• Analysts remain generally positive on the stock, with a consensus rating of Moderate Buy and an average price target of $256.53, though some firms have recently trimmed their targets or ratings.

Nicholas Investment Partners LP lowered its stake in Natera, Inc. (NASDAQ:NTRA - Free Report) by 43.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,353 shares of the medical research company's stock after selling 15,023 shares during the period. Nicholas Investment Partners LP's holdings in Natera were worth $4,434,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NTRA. Norges Bank purchased a new position in shares of Natera in the fourth quarter worth $372,398,000. JPMorgan Chase & Co. increased its stake in shares of Natera by 10.5% in the fourth quarter. JPMorgan Chase & Co. now owns 12,854,334 shares of the medical research company's stock worth $2,944,800,000 after acquiring an additional 1,225,420 shares during the period. Franklin Resources Inc. increased its stake in shares of Natera by 37.5% in the third quarter. Franklin Resources Inc. now owns 2,665,013 shares of the medical research company's stock worth $428,987,000 after acquiring an additional 727,366 shares during the period. AQR Capital Management LLC increased its stake in shares of Natera by 39.0% in the third quarter. AQR Capital Management LLC now owns 2,400,065 shares of the medical research company's stock worth $386,338,000 after acquiring an additional 673,315 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Natera by 111.1% in the fourth 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. Hedge funds and other institutional investors own 99.90% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Evercore reiterated an "outperform" rating and issued a $270.00 price objective on shares of Natera in a research note on Friday, May 8th. Wall Street Zen lowered shares of Natera from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. increased their price objective on shares of Natera from $260.00 to $265.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Morgan Stanley cut their price objective on shares of Natera from $265.00 to $250.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Natera from $215.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $256.53.

Natera Stock Performance

NTRA stock opened at $212.07 on Friday. The firm has a market cap of $30.37 billion, a PE ratio of -130.10 and a beta of 1.56. The firm's fifty day moving average is $206.49 and its 200 day moving average is $215.99. Natera, Inc. has a one year low of $131.81 and a one year high of $256.36.

Insider Activity at Natera

In related news, insider John Fesko sold 1,438 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $202.84, for a total transaction of $291,683.92. Following the sale, the insider owned 185,782 shares in the company, valued at approximately $37,684,020.88. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 on Thursday, June 4th. The shares were sold at an average price of $221.03, for a total transaction of $9,089,637.72. Following the sale, the chief executive officer owned 108,743 shares in the company, valued at approximately $24,035,465.29. This represents a 27.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 159,378 shares of company stock valued at $34,640,860 in the last quarter. 5.05% of the stock is currently owned by insiders.

Natera 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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