Inari Medical Sees Unusually Large Options Volume (NASDAQ:NARI)

Inari Medical, Inc. (NASDAQ:NARI) saw some unusual options trading activity on Tuesday. Traders purchased 11,622 call options on the company. This represents an increase of 2,174% compared to the typical daily volume of 511 call options.

Analysts Set New Price Targets

NARI has been the subject of a number of research reports. Robert W. Baird reissued a “neutral” rating and issued a $80.00 target price (down previously from $81.00) on shares of Inari Medical in a report on Tuesday. Wells Fargo & Company restated an “equal weight” rating and set a $80.00 price target (up from $65.00) on shares of Inari Medical in a report on Tuesday. Stifel Nicolaus started coverage on shares of Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective for the company. William Blair reissued a “market perform” rating on shares of Inari Medical in a report on Tuesday. Finally, Piper Sandler raised their price target on shares of Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Inari Medical currently has an average rating of “Hold” and a consensus price target of $68.00.

Inari Medical Price Performance

NASDAQ NARI opened at $79.45 on Wednesday. The stock has a market capitalization of $4.65 billion, a P/E ratio of -58.85 and a beta of 0.97. The business has a 50 day simple moving average of $52.85 and a 200 day simple moving average of $48.92. Inari Medical has a one year low of $36.73 and a one year high of $79.50.

Insider Activity

In other Inari Medical news, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction on Monday, November 18th. The shares were sold at an average price of $51.16, for a total transaction of $3,069,600.00. Following the completion of the transaction, the director now directly owns 501,233 shares of the company’s stock, valued at $25,643,080.28. The trade was a 10.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.29, for a total value of $165,870.00. Following the sale, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,000 shares of company stock worth $10,527,870 over the last ninety days. Insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

Institutional investors and hedge funds have recently modified their holdings of the business. Aigen Investment Management LP bought a new position in Inari Medical in the third quarter worth approximately $428,000. Vestal Point Capital LP raised its position in Inari Medical by 342.9% in the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock valued at $63,922,000 after buying an additional 1,200,000 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in Inari Medical during the 2nd quarter worth $2,145,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Inari Medical in the third quarter valued at about $1,397,000. Finally, Verition Fund Management LLC purchased a new position in Inari Medical during the third quarter worth about $1,235,000. 90.98% of the stock is currently owned by institutional investors.

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.