Ninepoint Partners LP Purchases New Position in Natera, Inc. $NTRA

Key Points

• Ninepoint Partners purchased 9,538 Natera shares worth approximately $2.59 million in the second quarter. Institutional investors collectively own 99.90% of Natera’s outstanding stock.
• Natera reported quarterly revenue of $752.75 million, up 37.7% year over year and above analyst estimates, while its adjusted loss of $0.47 per share beat expectations by $0.02.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $319.38. However, company insiders sold roughly $41.3 million of stock over the past three months.

Ninepoint Partners LP purchased a new stake in Natera, Inc. (NASDAQ:NTRA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,538 shares of the medical research company's stock, valued at approximately $2,589,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in Natera by 10.5% in the fourth quarter. JPMorgan Chase & Co. now owns 12,854,334 shares of the medical research company's stock valued at $2,944,800,000 after acquiring an additional 1,225,420 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Natera in the 2nd quarter valued at about $2,962,770,000. Wellington Management Group LLP boosted its position in shares of Natera by 94.7% in the 4th quarter. Wellington Management Group LLP now owns 4,976,325 shares of the medical research company's stock valued at $1,140,026,000 after purchasing an additional 2,420,263 shares during the period. State Street Corp grew its stake in Natera by 2.2% during the 3rd quarter. State Street Corp now owns 3,389,599 shares of the medical research company's stock worth $545,624,000 after buying an additional 72,087 shares during the last quarter. Finally, Coatue Management LLC increased its position in Natera by 1,446.1% during the fourth quarter. Coatue Management LLC now owns 2,633,334 shares of the medical research company's stock worth $603,270,000 after buying an additional 2,463,008 shares during the period. Institutional investors and hedge funds own 99.90% of the company's stock.

Natera Trading Down 0.1%

Shares of NTRA stock opened at $324.84 on Friday. The stock has a 50 day simple moving average of $271.84 and a 200-day simple moving average of $228.67. The company has a market cap of $46.82 billion, a price-to-earnings ratio of -238.85 and a beta of 1.51. Natera, Inc. has a 12-month low of $157.43 and a 12-month high of $333.56.

Natera (NASDAQ:NTRA - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The medical research company reported ($0.47) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.02. Natera had a negative return on equity of 11.38% and a negative net margin of 7.11%.The firm had revenue of $752.75 million for the quarter, compared to analyst estimates of $661.24 million. During the same quarter in the prior year, the company posted ($0.74) earnings per share. Natera's quarterly revenue was up 37.7% on a year-over-year basis. On average, equities analysts forecast that Natera, Inc. will post -1.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Guggenheim increased their target price on shares of Natera from $290.00 to $360.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. UBS Group set a $260.00 price objective on Natera in a research note on Wednesday, June 24th. Wells Fargo & Company increased their price objective on Natera from $220.00 to $284.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. TD Cowen lifted their target price on Natera from $325.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, Stephens upped their price target on Natera from $305.00 to $350.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $319.38.

Insiders Place Their Bets

In related news, Director Herm Rosenman sold 16,530 shares of the firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $250.00, for a total value of $4,132,500.00. Following the completion of the sale, the director owned 4,250 shares in the company, valued at $1,062,500. This trade represents a 79.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steven Leonard Chapman sold 41,124 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $221.03, for a total transaction of $9,089,637.72. Following the sale, the chief executive officer directly owned 108,743 shares in the company, valued at approximately $24,035,465.29. This 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 181,045 shares of company stock worth $41,330,968. 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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