Pinnbrook Capital Management LP Purchases Shares of 69,300 Natera, Inc. $NTRA

Key Points

• Pinnbrook Capital Management initiated a 69,300-share position in Natera worth approximately $18.8 million, making Natera its 11th-largest holding and about 2% of its portfolio. Institutional investors collectively own 99.9% of Natera’s shares.
• 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 slightly beat expectations.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $319.38 target price, although shares recently traded near a one-year high and company insiders sold $41.3 million of stock during the quarter.

Pinnbrook Capital Management LP acquired a new stake in shares of Natera, Inc. (NASDAQ:NTRA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 69,300 shares of the medical research company's stock, valued at approximately $18,811,000. Natera makes up approximately 2.0% of Pinnbrook Capital Management LP's portfolio, making the stock its 11th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of NTRA. Trust Co. of Vermont acquired a new stake in shares of Natera in the second quarter worth $26,000. Elevation Wealth Partners LLC acquired a new position in Natera during the second quarter valued at $30,000. Reflection Asset Management purchased a new stake in Natera in the fourth quarter valued at $29,000. Rakuten Securities Inc. purchased a new stake in Natera in the second quarter valued at $35,000. Finally, Palladiem LLC acquired a new stake in Natera during the 4th quarter worth about $31,000. 99.90% of the stock is owned by hedge funds and other institutional investors.

Natera Price Performance

NTRA opened at $332.03 on Friday. The firm has a market capitalization of $47.86 billion, a price-to-earnings ratio of -244.14 and a beta of 1.51. The company's 50 day simple moving average is $274.24 and its two-hundred day simple moving average is $229.39. Natera, Inc. has a 1-year low of $157.43 and a 1-year high of $333.56.

Natera (NASDAQ:NTRA - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The medical research company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.02. Natera had a negative net margin of 7.11% and a negative return on equity of 11.38%. 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 previous year, the company earned ($0.74) EPS. The business's revenue for the quarter was up 37.7% compared to the same quarter last year. On average, equities analysts anticipate that Natera, Inc. will post -1.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Canaccord Genuity Group set a $375.00 price target on Natera in a research report on Friday, August 7th. Piper Sandler raised their price objective on shares of Natera from $249.00 to $363.50 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. TD Cowen lifted their target price on shares of Natera from $325.00 to $340.00 and gave the company a "buy" rating in a report on Friday, August 7th. Zacks Research upgraded shares of Natera from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Finally, Sanford C. Bernstein initiated coverage on shares of Natera in a research report on Friday, June 26th. They set an "outperform" rating and a $310.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $319.38.

Insiders Place Their Bets

In other Natera news, Director Herm Rosenman sold 16,530 shares of the firm's stock in a transaction that occurred on 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 transaction, the director owned 4,250 shares of the company's stock, valued at $1,062,500. This trade represents a 79.55% decrease in their position. The sale was disclosed in a filing with the SEC, 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 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 directly owned 108,743 shares of the company's stock, valued at $24,035,465.29. The trade was a 27.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 181,045 shares of company stock valued at $41,330,968. 5.05% of the stock is owned by company 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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