Natera, Inc. (NASDAQ:NTRA) Short Interest Down 22.5% in April

Key Points

• Short interest down 22.5% in April to 3,771,349 shares (about 2.8% of shares outstanding) with a days-to-cover ratio of 2.7.
• Analysts are broadly positive with an average rating of "Moderate Buy" and an average target price of $253.47, following recent target increases (Guggenheim $270, Baird $257).
• Natera beat quarterly estimates (EPS $0.35 vs. -$0.46 expected; revenue $665.5M vs. $600.7M) even as insiders sold 125,165 shares in the past three months and institutional ownership stands around 99.9%.

Natera, Inc. (NASDAQ:NTRA - Get Free Report) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 3,771,349 shares, a drop of 22.5% from the March 31st total of 4,867,085 shares. Approximately 2.8% of the shares of the stock are sold short. Based on an average trading volume of 1,387,803 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

NTRA has been the subject of several research analyst reports. Robert W. Baird raised their target price on shares of Natera from $239.00 to $257.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. Zacks Research upgraded shares of Natera from a "strong sell" rating to a "hold" rating in a research note on Thursday, January 1st. Canaccord Genuity Group reissued a "buy" rating on shares of Natera in a report on Monday, January 12th. TD Cowen reaffirmed a "buy" rating on shares of Natera in a report on Wednesday, January 7th. Finally, Guggenheim boosted their target price on Natera from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $253.47.

Insiders Place Their Bets

In other news, insider Solomon Moshkevich sold 3,000 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $199.85, for a total value of $599,550.00. Following the completion of the transaction, the insider owned 150,023 shares of the company's stock, valued at $29,982,096.55. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Fesko sold 3,594 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $231.02, for a total value of $830,285.88. Following the sale, the insider owned 178,081 shares of the company's stock, valued at $41,140,272.62. This represents a 1.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 125,165 shares of company stock valued at $28,343,522 over the last three months. Insiders own 5.63% of the company's stock.

Institutional Trading of Natera

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTRA. Coatue Management LLC raised its holdings in shares of Natera by 1,446.1% in 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. Wellington Management Group LLP grew its position in 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 acquiring an additional 2,420,263 shares during the last quarter. Norges Bank purchased a new stake in Natera in the fourth quarter worth $372,398,000. JPMorgan Chase & Co. increased its stake 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 worth $2,944,800,000 after purchasing an additional 1,225,420 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Natera by 37.5% during the third quarter. Franklin Resources Inc. now owns 2,665,013 shares of the medical research company's stock worth $428,987,000 after purchasing an additional 727,366 shares during the last quarter. 99.90% of the stock is owned by hedge funds and other institutional investors.

Natera Trading Down 3.3%

Shares of NASDAQ NTRA traded down $6.64 during trading hours on Wednesday, hitting $193.53. 158,024 shares of the company traded hands, compared to its average volume of 1,209,294. The stock has a market capitalization of $27.54 billion, a price-to-earnings ratio of -126.51 and a beta of 1.68. The company's 50 day moving average price is $202.64 and its 200 day moving average price is $213.94. Natera has a 12 month low of $131.81 and a 12 month high of $256.36.

Natera (NASDAQ:NTRA - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The medical research company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.46) by $0.81. Natera had a negative return on equity of 15.28% and a negative net margin of 9.03%.The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $600.68 million. During the same period last year, the company earned ($0.41) earnings per share. Equities analysts anticipate that Natera will post -1.71 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.