AUSTIN, Texas—Michael Burkes, Chief Financial Officer of Natera, Inc. (NASDAQ:NTRA), reported the sale of company stock valued at approximately $236,771, according to a recent SEC filing. The transactions occurred on October 28 and 29, with shares sold at prices ranging from $118.2105 to $119.93 each.
The first sale involved 1,238 shares, executed to cover tax obligations related to the vesting of restricted stock units (RSUs). This transaction was part of a pre-arranged trading plan under Rule 10b5-1, as noted in the filing. The second sale consisted of 754 shares, also conducted under a Rule 10b5-1 trading plan adopted earlier this year.
Following these transactions, Burkes holds 70,717 shares of Natera common stock directly.
In other recent news, Natera Inc . has seen significant developments. Canaccord Genuity raised the price target for Natera's stock to $150 from $145, reaffirming a Buy rating. This adjustment reflects the firm's view of Natera's strong performance prospects. Analysts from Piper Sandler and TD Cowen have also maintained their positive stances on Natera, reiterating their price targets and Buy ratings.
Natera has made substantial strides in genetic testing, with a notable 58% year-over-year and a 12% sequential revenue increase from the first quarter. The company has also secured a permanent injunction against NeoGenomics (NASDAQ:NEO)' RaDaR assay, asserting its patent rights within the genetic testing market.
The company's Signatera test is set to change oncological discussions as it moves beyond measuring sensitivity to providing insights on overall survival and disease-free survival. Despite a delay in the submission of the ALTAIR study and the non-renewal of the Foundation Medicine partnership, Natera is projecting a 40% revenue growth compared to 2023.
These recent developments underscore Natera's commitment to growth and innovation in the personalized genetic testing and diagnostics space. The company also anticipates top-line data from its ALTAIR trial in approximately January 2025, which could influence the National Comprehensive Cancer Network's guideline decisions.
InvestingPro Insights
Natera's recent stock performance and financial metrics provide additional context to CFO Michael Burkes' recent stock sale. According to InvestingPro data, Natera's stock has shown remarkable strength, with a 221.08% price total return over the past year and a 102.31% return year-to-date. This impressive performance aligns with an InvestingPro Tip indicating that the stock is trading near its 52-week high, currently at 94.9% of that peak.
The company's financial health appears mixed. While Natera boasts strong revenue growth, with a 46.13% increase in the last twelve months to $1.36 billion, it's not yet profitable. An InvestingPro Tip notes that analysts do not anticipate the company will be profitable this year, which is reflected in the negative operating income of -$313.73 million for the last twelve months.
Despite the lack of profitability, Natera's market capitalization stands at a robust $15.65 billion, suggesting investor confidence in its future prospects. The company's Price to Book ratio of 18.74 indicates that the market values Natera significantly higher than its book value, potentially due to expectations of future growth or the value of its intellectual property in the genetic testing space.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Natera, providing a deeper dive into the company's financial situation and market position. These insights could be particularly valuable given the stock's volatility and high growth trajectory.
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