Inari Medical, Inc. (NASDAQ:NARI) Sees Significant Decrease in Short Interest

Inari Medical, Inc. (NASDAQ:NARI - Get Free Report) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 2,350,000 shares, a decline of 38.8% from the December 31st total of 3,840,000 shares. Based on an average trading volume of 2,130,000 shares, the days-to-cover ratio is currently 1.1 days.

Insider Buying and Selling

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the transaction, the chief executive officer now directly owns 439,310 shares of the company's stock, valued at $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Hoffman sold 200,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were 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 of the company's stock, valued at approximately $14,451,543.89. This trade represents a 45.56 % decrease in their position. 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. 10.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Inari Medical

A number of hedge funds and other institutional investors have recently modified their holdings of NARI. R Squared Ltd purchased a new stake in shares of Inari Medical in the fourth quarter valued at $45,000. GAMMA Investing LLC boosted its holdings in Inari Medical by 67.2% in the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company's stock valued at $49,000 after acquiring an additional 473 shares during the last quarter. KBC Group NV grew its holdings in shares of Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company's stock worth $73,000 after purchasing an additional 498 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Inari Medical in the second quarter worth $104,000. Finally, Covestor Ltd raised its position in Inari Medical by 63.5% in the third quarter. Covestor Ltd now owns 2,384 shares of the company's stock valued at $99,000 after purchasing an additional 926 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NARI shares. Wells Fargo & Company reiterated an "equal weight" rating and set a $80.00 price target (up from $65.00) on shares of Inari Medical in a report on Tuesday, January 7th. William Blair reissued a "market perform" rating on shares of Inari Medical in a research report on Tuesday, January 7th. BTIG Research reiterated a "neutral" rating on shares of Inari Medical in a research note on Wednesday, January 8th. Baird R W downgraded Inari Medical from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $80.00 target price (down previously from $81.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Inari Medical presently has a consensus rating of "Hold" and an average price target of $68.00.

Inari Medical Stock Up 0.3 %

NARI traded up $0.23 on Tuesday, hitting $79.85. 1,592,451 shares of the company traded hands, compared to its average volume of 4,466,970. The company has a 50 day moving average of $63.95 and a 200-day moving average of $52.70. Inari Medical has a 12-month low of $36.73 and a 12-month high of $79.89. The stock has a market capitalization of $4.67 billion, a PE ratio of -59.15 and a beta of 1.02.

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.