Verition Fund Management LLC Takes $1.24 Million Position in Inari Medical, Inc. (NASDAQ:NARI)

Verition Fund Management LLC acquired a new position in Inari Medical, Inc. (NASDAQ:NARI - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,935 shares of the company's stock, valued at approximately $1,235,000. Verition Fund Management LLC owned approximately 0.05% of Inari Medical as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vestal Point Capital LP boosted its holdings in Inari Medical by 342.9% in the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company's stock worth $63,922,000 after acquiring an additional 1,200,000 shares during the period. Quantbot Technologies LP purchased a new position in shares of Inari Medical in the third quarter valued at $1,248,000. The Manufacturers Life Insurance Company grew its holdings in Inari Medical by 101.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company's stock valued at $32,790,000 after purchasing an additional 400,198 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Inari Medical during the 3rd quarter worth $1,397,000. Finally, Algert Global LLC lifted its holdings in Inari Medical by 38.2% in the 3rd quarter. Algert Global LLC now owns 44,106 shares of the company's stock worth $1,819,000 after buying an additional 12,180 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Robert W. Baird raised their target price on Inari Medical from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Piper Sandler lifted their price objective on Inari Medical from $50.00 to $52.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Truist Financial increased their target price on Inari Medical from $46.00 to $50.00 and gave the company a "hold" rating in a research note on Tuesday, October 29th. Leerink Partners began coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They issued a "market perform" rating and a $47.00 price target for the company. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Inari Medical in a report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $58.89.

Inari Medical Stock Performance

Shares of NASDAQ NARI traded down $0.48 during midday trading on Friday, hitting $51.08. The company's stock had a trading volume of 809,525 shares, compared to its average volume of 667,190. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $67.13. The firm's fifty day moving average price is $47.30 and its 200-day moving average price is $47.73. The firm has a market cap of $2.99 billion, a P/E ratio of -37.84 and a beta of 0.97.

Insider Activity at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the completion of the transaction, the director now directly owns 643,296 shares in the company, valued at approximately $29,482,255.68. The trade was a 5.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the firm's 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 completion of the sale, the chief executive officer now owns 445,310 shares in the company, valued at approximately $22,265,500. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,000 shares of company stock worth $8,990,990 in the last 90 days. 10.60% of the stock is currently owned by company insiders.

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.