Daniel Rabinowitz, the Secretary and Chief Legal Officer of Natera, Inc. (NASDAQ:NTRA), recently executed several stock transactions according to a Form 4 filing with the Securities and Exchange Commission. On October 21 and 22, Rabinowitz sold a total of 816 shares of Natera's common stock, generating proceeds of approximately $98,298. The shares were sold at prices ranging from $120.07 to $120.7572 per share.
The transactions were part of a plan to satisfy tax withholding obligations related to the vesting of restricted stock units (RSUs). Following these sales, Rabinowitz holds 207,084 shares of the company's common stock.
In other recent news, Natera, Inc. has secured a permanent injunction against NeoGenomics (NASDAQ:NEO)' RaDaR assay, a significant legal development in its ongoing patent infringement litigation. The genetic testing company has also reported a 12% sequential revenue increase from the first quarter and a 58% surge year-over-year. Analysts from Piper Sandler, TD Cowen, and Canaccord Genuity have maintained their Buy ratings on Natera, underpinned by the forthcoming Galaxy study results and the company's presentation at the European Society for Medical Oncology (ESMO) conference.
Natera's Signatera test is set to influence oncological discussions by 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 projects a 40% revenue growth compared to 2023. These recent developments highlight Natera's commitment to growth and innovation in the personalized genetic testing and diagnostics space.
InvestingPro Insights
To provide additional context to Daniel Rabinowitz's recent stock transactions, it's worth examining some key financial metrics and insights from InvestingPro regarding Natera, Inc. (NASDAQ:NTRA).
Natera's stock has demonstrated significant momentum, with InvestingPro data showing a remarkable 199.28% price total return over the past year. This aligns with an InvestingPro Tip highlighting the company's "high return over the last year." Additionally, the stock has seen a 31.76% price total return over the last six months, supporting another InvestingPro Tip that notes a "large price uptick over the last six months."
Despite the strong stock performance, it's important to note that Natera is currently not profitable. An InvestingPro Tip indicates that "analysts do not anticipate the company will be profitable this year." This is reflected in the company's negative P/E ratio of -50.79 for the last twelve months as of Q2 2024.
However, Natera is showing robust top-line growth. The company's revenue for the last twelve months as of Q2 2024 stood at $1.36 billion, with a impressive revenue growth rate of 46.13% over the same period. This strong revenue performance may be contributing to investor optimism and the stock's positive trajectory.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights beyond what's mentioned here. In fact, there are 11 more InvestingPro Tips available for Natera, which could provide valuable perspective on the company's financial health and market position.
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