Trexquant Investment LP Acquires 30,167 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Trexquant Investment LP lifted its holdings in Inari Medical, Inc. (NASDAQ:NARI) by 21.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 172,520 shares of the company’s stock after buying an additional 30,167 shares during the period. Trexquant Investment LP’s holdings in Inari Medical were worth $8,807,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in NARI. Norges Bank purchased a new position in Inari Medical in the fourth quarter worth about $14,447,000. Point72 DIFC Ltd bought a new position in shares of Inari Medical during the 3rd quarter valued at approximately $9,008,000. Jennison Associates LLC raised its holdings in Inari Medical by 11.8% during the 4th quarter. Jennison Associates LLC now owns 1,763,258 shares of the company’s stock valued at $90,014,000 after buying an additional 186,617 shares during the period. Evoke Wealth LLC lifted its position in Inari Medical by 207.5% in the fourth quarter. Evoke Wealth LLC now owns 192,926 shares of the company’s stock worth $9,849,000 after buying an additional 130,186 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Inari Medical by 9.1% during the fourth quarter. American Century Companies Inc. now owns 1,068,487 shares of the company’s stock worth $54,546,000 after buying an additional 89,108 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $60.47, for a total value of $12,094,000.00. Following the completion of the transaction, the director now owns 238,987 shares of the company’s stock, valued at $14,451,543.89. The trade was a 45.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 10.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NARI shares. Canaccord Genuity Group restated a “hold” rating and issued a $80.00 target price (up previously from $74.00) on shares of Inari Medical in a report on Tuesday, January 7th. Robert W. Baird restated a “neutral” rating and set a $80.00 target price (down previously from $81.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $80.00 price target (up from $65.00) on shares of Inari Medical in a report on Tuesday, January 7th. Truist Financial boosted their price objective on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Finally, Baird R W lowered Inari Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.00.

Inari Medical Price Performance

NASDAQ:NARI opened at $79.97 on Thursday. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $79.99. The company has a 50-day moving average of $79.90 and a 200 day moving average of $62.16. The firm has a market cap of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02.

Inari Medical 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.