Natera Inc (NASDAQ:NTRA) Sees Large Decrease in Short Interest

Natera Inc (NASDAQ:NTRA) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 3,093,800 shares, a decrease of 27.5% from the June 30th total of 4,267,100 shares. Approximately 6.6% of the shares of the company are short sold. Based on an average daily trading volume, of 717,000 shares, the days-to-cover ratio is presently 4.3 days.

NTRA traded up $0.37 during trading on Tuesday, reaching $29.68. 622,706 shares of the company’s stock were exchanged, compared to its average volume of 687,822. The firm has a fifty day moving average of $27.13. The company has a debt-to-equity ratio of 20.88, a current ratio of 1.85 and a quick ratio of 1.73. Natera has a fifty-two week low of $11.08 and a fifty-two week high of $33.25. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -13.80 and a beta of 1.51.

Natera (NASDAQ:NTRA) last announced its quarterly earnings results on Wednesday, August 7th. The medical research company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.09. The company had revenue of $74.36 million for the quarter, compared to analysts’ expectations of $66.77 million. Natera had a negative net margin of 46.78% and a negative return on equity of 409.49%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.62) earnings per share. Equities research analysts forecast that Natera will post -2.1 earnings per share for the current year.

Several research firms have commented on NTRA. BidaskClub raised shares of Natera from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research upgraded shares of Natera from a “sell” rating to a “hold” rating in a research note on Friday. Canaccord Genuity raised their price target on shares of Natera from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Piper Jaffray Companies raised their price objective on shares of Natera from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Craig Hallum raised their price objective on shares of Natera from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Natera currently has an average rating of “Buy” and an average price target of $32.29.

In other news, insider Jonathan Sheena sold 250,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $31.37, for a total value of $7,842,500.00. Following the completion of the sale, the insider now owns 364,645 shares in the company, valued at $11,438,913.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven Leonard Chapman sold 98,996 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $33.00, for a total value of $3,266,868.00. Following the completion of the sale, the chief executive officer now owns 20,061 shares of the company’s stock, valued at approximately $662,013. The disclosure for this sale can be found here. Insiders sold a total of 398,261 shares of company stock valued at $12,516,321 over the last three months. Corporate insiders own 9.29% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NTRA. US Bancorp DE increased its position in Natera by 575.2% in the 2nd quarter. US Bancorp DE now owns 3,099 shares of the medical research company’s stock valued at $86,000 after acquiring an additional 2,640 shares during the period. AXA acquired a new position in Natera in the 2nd quarter valued at approximately $4,626,000. Foresite Capital Management III LLC increased its position in Natera by 13.6% in the 2nd quarter. Foresite Capital Management III LLC now owns 286,468 shares of the medical research company’s stock valued at $7,901,000 after acquiring an additional 34,213 shares during the period. Northern Trust Corp increased its position in Natera by 16.6% in the 2nd quarter. Northern Trust Corp now owns 506,488 shares of the medical research company’s stock valued at $13,968,000 after acquiring an additional 72,279 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Natera in the 2nd quarter valued at approximately $4,578,000. 83.52% of the stock is currently owned by institutional investors.

About Natera

Natera, Inc, a diagnostics company, provides preconception and prenatal genetic testing services. It primarily offers Panorama, a non-invasive prenatal test that screens for chromosomal abnormalities of a fetus with a blood draw from the mother; Vistara, a single-gene mutations screening test to identify single-gene disorder; Horizon carrier screening to determine carrier status for various genetic diseases that could be passed on to the carrier's children; and Spectrum pre-implantation genetic screening and Spectrum pre-implantation genetic diagnosis to analyze chromosomal anomalies or inherited genetic conditions during an in vitro fertilization cycle.

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