Natera, Inc. (NASDAQ:NTRA) Short Interest Up 47.2% in March

Key Points

• Short interest surged 47.2% in March to 4,867,085 shares (about 3.6% of shares sold short) with a days-to-cover of 4.1.
• Company insiders have been selling stock—CEO Steven Leonard Chapman sold 5,623 shares and CFO Michael Burkes Brophy sold 785 on March 10; insiders sold 314,545 shares in the past three months and own 5.63%, while institutional investors reportedly own 99.90% of the stock.
• Natera beat quarterly estimates (EPS $0.35 vs. -$0.46 est.; revenue $665.5M vs. $600.7M), the shares traded up ~6.3% to $214.64, and analysts carry a Moderate Buy consensus with an average target of $253.47.

Natera, Inc. (NASDAQ:NTRA - Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 4,867,085 shares, an increase of 47.2% from the March 15th total of 3,306,015 shares. Currently, 3.6% of the company's shares are sold short. Based on an average trading volume of 1,179,353 shares, the days-to-cover ratio is presently 4.1 days.

Insiders Place Their Bets

In other Natera news, CEO Steven Leonard Chapman sold 5,623 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $204.13, for a total transaction of $1,147,822.99. Following the completion of the sale, the chief executive officer owned 156,607 shares of the company's stock, valued at $31,968,186.91. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Burkes Brophy sold 785 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $204.13, for a total value of $160,242.05. Following the sale, the chief financial officer directly owned 63,354 shares of the company's stock, valued at approximately $12,932,452.02. This trade represents a 1.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 314,545 shares of company stock worth $73,141,185 in the last three months. 5.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Natera

A number of institutional investors have recently added to or reduced their stakes in the company. Horizon Investments LLC grew its position in Natera by 22.0% during the 4th quarter. Horizon Investments LLC now owns 244 shares of the medical research company's stock worth $56,000 after purchasing an additional 44 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in Natera by 20.0% in the 4th quarter. Sound Income Strategies LLC now owns 270 shares of the medical research company's stock worth $62,000 after purchasing an additional 45 shares during the last quarter. Savvy Advisors Inc. lifted its position in Natera by 3.1% during the 4th quarter. Savvy Advisors Inc. now owns 1,541 shares of the medical research company's stock worth $353,000 after acquiring an additional 46 shares during the last quarter. Siemens Fonds Invest GmbH lifted its position in Natera by 3.1% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 1,804 shares of the medical research company's stock worth $290,000 after acquiring an additional 54 shares during the last quarter. Finally, Alamea Verwaltungs GmbH lifted its position in Natera by 2.9% during the 4th quarter. Alamea Verwaltungs GmbH now owns 2,229 shares of the medical research company's stock worth $515,000 after acquiring an additional 62 shares during the last quarter. 99.90% of the stock is currently owned by institutional investors and hedge funds.

Natera Trading Up 6.3%

NASDAQ:NTRA traded up $12.74 on Tuesday, hitting $214.64. 1,734,360 shares of the stock were exchanged, compared to its average volume of 1,224,029. The stock has a market cap of $30.42 billion, a PE ratio of -140.29 and a beta of 1.68. The stock has a fifty day moving average of $203.49 and a 200-day moving average of $210.93. Natera has a fifty-two week low of $131.81 and a fifty-two week high of $256.36.

Natera (NASDAQ:NTRA - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The medical research company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.81. The firm had revenue of $665.50 million during the quarter, compared to the consensus estimate of $600.68 million. Natera had a negative return on equity of 15.28% and a negative net margin of 9.03%.During the same period in the prior year, the firm earned ($0.41) EPS. As a group, analysts predict that Natera will post -1.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NTRA shares. Canaccord Genuity Group reiterated a "buy" rating on shares of Natera in a report on Monday, January 12th. TD Cowen reiterated a "buy" rating on shares of Natera in a report on Wednesday, January 7th. JPMorgan Chase & Co. lifted their target price on Natera from $250.00 to $260.00 and gave the company an "overweight" rating in a report on Monday, December 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Natera in a report on Thursday, January 22nd. Finally, Citigroup began coverage on Natera in a report on Wednesday, January 7th. They issued a "buy" rating and a $300.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $253.47.

About Natera

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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