Inari Medical (NASDAQ:NARI) Sets New 52-Week High – Here’s What Happened

Inari Medical, Inc. (NASDAQ:NARI) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $79.89 and last traded at $79.85, with a volume of 1593290 shares traded. The stock had previously closed at $79.62.

Analysts Set New Price Targets

NARI has been the subject of a number of analyst reports. Canaccord Genuity Group reissued a “hold” rating and issued a $80.00 price objective (up previously from $74.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Oppenheimer assumed coverage on Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price target for the company. Piper Sandler boosted their price target on Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Baird R W cut Inari Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, BTIG Research reissued a “neutral” rating on shares of Inari Medical in a report on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $68.00.

Inari Medical Stock Down 0.0 %

The business has a fifty day simple moving average of $65.69 and a 200 day simple moving average of $53.26.

Insider Activity at Inari Medical

In other news, Director William Hoffman sold 200,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the completion of the sale, the director now directly owns 238,987 shares in the company, valued at approximately $14,451,543.89. This represents a 45.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the sale, the chief executive officer now owns 439,310 shares in the company, valued at $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 323,000 shares of company stock worth $18,669,070. Corporate insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its position in Inari Medical by 128.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 634 shares of the company’s stock worth $33,000 after buying an additional 356 shares during the period. R Squared Ltd acquired a new position in shares of Inari Medical during the fourth quarter valued at about $45,000. GAMMA Investing LLC boosted its position in shares of Inari Medical by 67.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock worth $49,000 after purchasing an additional 473 shares in the last quarter. KBC Group NV grew its stake 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 buying an additional 498 shares during the period. Finally, Covestor Ltd increased its position in Inari Medical by 63.5% in the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock valued at $99,000 after buying an additional 926 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Inari Medical Company 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.