JPMorgan Chase & Co. Sells 47,878 Shares of Inari Medical, Inc. (NASDAQ:NARI)

JPMorgan Chase & Co. lowered its stake in shares of Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,123,602 shares of the company's stock after selling 47,878 shares during the period. JPMorgan Chase & Co. owned 1.92% of Inari Medical worth $46,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jennison Associates LLC grew its holdings in Inari Medical by 63.2% during the 3rd quarter. Jennison Associates LLC now owns 1,576,641 shares of the company's stock valued at $65,021,000 after purchasing an additional 610,468 shares in the last quarter. Vestal Point Capital LP lifted its stake in shares of 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. Point72 Asset Management L.P. grew its stake in shares of Inari Medical by 113.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company's stock worth $71,324,000 after purchasing an additional 786,691 shares during the last quarter. Armistice Capital LLC boosted its position in shares of Inari Medical by 353.1% in the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company's stock valued at $48,595,000 after purchasing an additional 786,501 shares during the period. Finally, Bamco Inc. NY grew its position in Inari Medical by 29.5% during the 3rd quarter. Bamco Inc. NY now owns 1,006,129 shares of the company's stock worth $41,493,000 after purchasing an additional 228,977 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NARI. Robert W. Baird boosted their price target on Inari Medical from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Piper Sandler increased their target price on Inari Medical from $50.00 to $52.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Needham & Company LLC reissued a "hold" rating on shares of Inari Medical in a research note on Tuesday, October 29th. Oppenheimer started coverage on shares of Inari Medical in a report on Tuesday, December 17th. They issued an "outperform" rating and a $75.00 price target for the company. Finally, Truist Financial raised their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a "hold" rating in a report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.80.

Inari Medical Stock Up 30.6 %

NARI stock traded up $15.23 during midday trading on Monday, hitting $65.00. The company's stock had a trading volume of 13,291,487 shares, compared to its average volume of 5,157,011. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $65.94. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of -48.15 and a beta of 0.97. The stock's 50-day moving average price is $51.80 and its 200 day moving average price is $48.56.

Insider Activity

In other Inari Medical news, 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 transaction, the director now owns 601,233 shares of the company's stock, valued at $27,067,509.66. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on 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 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. Insiders have sold 206,000 shares of company stock valued at $10,527,870 in the last 90 days. Insiders own 10.60% of the company's stock.

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.