Inari Medical (NASDAQ:NARI) Shares Down 4.6% Following Insider Selling

Inari Medical, Inc. (NASDAQ:NARI)’s share price traded down 4.6% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $52.86 and last traded at $52.90. 358,067 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 996,203 shares. The stock had previously closed at $55.45.

Specifically, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the transaction, the chief executive officer now directly owns 439,310 shares in the company, valued at $24,289,449.90. This trade represents a 0.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $55.66, for a total value of $3,339,600.00. Following the completion of the sale, the director now owns 441,233 shares of the company’s stock, valued at $24,559,028.78. The trade was a 11.97 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several brokerages recently commented on NARI. Stifel Nicolaus began coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price on the stock. Piper Sandler boosted their price objective on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Oppenheimer assumed coverage on Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price target on the stock. Finally, Robert W. Baird upped their price target on Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.80.

Inari Medical Stock Down 4.0 %

The company has a market capitalization of $3.12 billion, a P/E ratio of -39.44 and a beta of 0.97. The company has a 50-day moving average of $50.34 and a two-hundred day moving average of $48.17.

Institutional Trading of Inari Medical

A number of hedge funds have recently modified their holdings of the business. Aigen Investment Management LP purchased a new position in Inari Medical during the 3rd quarter valued at about $428,000. Vestal Point Capital LP increased its stake in shares of Inari Medical by 342.9% during the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock valued at $63,922,000 after purchasing an additional 1,200,000 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Inari Medical during the second quarter valued at approximately $2,145,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Inari Medical in the 3rd quarter worth approximately $1,397,000. Finally, Integral Health Asset Management LLC grew its stake in shares of Inari Medical by 100.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock worth $19,260,000 after buying an additional 200,000 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Inari Medical Company Profile

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy devices and accessories for the specific disease states in the United States. The company provides ClotTriever system, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; FlowTriever system, a large bore catheter-based aspiration and mechanical thrombectomy system to remove large clots from large vessels in the peripheral vasculature for treating pulmonary embolism and other complex venous thromboembolism cases; InThrill system to treat small vessel thrombosis; and LimFlow system for patients who have chronic limb-threatening ischemia with no suitable endovascular or surgical revascularization options and risk of major amputation.