Inari Medical, Inc. (NASDAQ:NARI) Shares Sold by Millrace Asset Group Inc.

Millrace Asset Group Inc. lessened its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 76.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,940 shares of the company’s stock after selling 22,820 shares during the quarter. Millrace Asset Group Inc.’s holdings in Inari Medical were worth $286,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its position in Inari Medical by 164.7% in the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after buying an additional 438 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after acquiring an additional 435 shares during the period. KBC Group NV boosted its holdings in shares of Inari Medical by 39.0% in the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after acquiring an additional 498 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Inari Medical by 39.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after acquiring an additional 522 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Inari Medical during the second quarter worth $104,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $51.16, for a total value of $3,069,600.00. Following the sale, the director now directly owns 501,233 shares in the company, valued at approximately $25,643,080.28. The trade was a 10.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the transaction, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at $22,265,500. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 186,000 shares of company stock valued at $8,990,990 over the last 90 days. Corporate insiders own 10.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NARI. Robert W. Baird upped their price target on shares of Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Canaccord Genuity Group upped their target price on Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Leerink Partners started coverage on Inari Medical in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target for the company. Piper Sandler upped their price objective on Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Truist Financial raised their price objective on shares of Inari Medical from $46.00 to $50.00 and gave the stock a “hold” rating in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Inari Medical currently has a consensus rating of “Hold” and a consensus price target of $58.89.

Inari Medical Price Performance

Shares of NASDAQ:NARI opened at $49.48 on Tuesday. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of -36.65 and a beta of 0.96. The business’s 50 day moving average price is $45.66 and its 200-day moving average price is $47.33. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $67.13.

About Inari Medical

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.