Inari Medical Target of Unusually Large Options Trading (NASDAQ:NARI)

Inari Medical, Inc. (NASDAQ:NARI) was the target of some unusual options trading on Tuesday. Investors bought 11,622 call options on the stock. This is an increase of approximately 2,174% compared to the typical volume of 511 call options.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NARI shares. Robert W. Baird reaffirmed 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. Canaccord Genuity Group reissued a “hold” rating and issued a $80.00 price target (up from $74.00) on shares of Inari Medical in a report on Tuesday. Truist Financial upped their price target on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Stifel Nicolaus started coverage on Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Inari Medical has a consensus rating of “Hold” and a consensus target price of $66.50.

Insider Activity at Inari Medical

In related news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the sale, the chief executive officer now owns 445,310 shares of the company’s stock, valued at approximately $22,265,500. The trade was a 0.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total value of $1,800,800.00. Following the completion of the sale, the director now directly owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,000 shares of company stock valued at $10,527,870. 10.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Inari Medical

Institutional investors and hedge funds have recently bought and sold shares of the business. Aigen Investment Management LP acquired a new stake in shares of Inari Medical in the third quarter valued at $428,000. Vestal Point Capital LP increased its stake in shares of Inari Medical by 342.9% in the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock valued at $63,922,000 after buying an additional 1,200,000 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in shares of Inari Medical in the second quarter valued at $2,145,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Inari Medical in the third quarter valued at $1,397,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Inari Medical in the third quarter valued at $1,235,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Inari Medical Stock Performance

Inari Medical stock traded up $14.33 during trading hours on Tuesday, hitting $79.33. 12,289,911 shares of the stock were exchanged, compared to its average volume of 6,513,685. Inari Medical has a 12 month low of $36.73 and a 12 month high of $79.48. The business’s 50-day moving average is $52.24 and its two-hundred day moving average is $48.69. The stock has a market capitalization of $4.64 billion, a P/E ratio of -58.76 and a beta of 0.97.

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.