Point72 Asset Management L.P. Has $33.23 Million Stock Position in Inari Medical, Inc. (NASDAQ:NARI)

Point72 Asset Management L.P. lessened its holdings in Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 45.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 805,644 shares of the company's stock after selling 675,639 shares during the period. Point72 Asset Management L.P. owned 1.38% of Inari Medical worth $33,225,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bamco Inc. NY raised its holdings in Inari Medical by 29.5% in the 3rd quarter. Bamco Inc. NY now owns 1,006,129 shares of the company's stock valued at $41,493,000 after acquiring an additional 228,977 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Inari Medical by 44.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,113 shares of the company's stock worth $128,000 after acquiring an additional 954 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Inari Medical in the third quarter valued at about $776,000. Verition Fund Management LLC purchased a new position in shares of Inari Medical in the third quarter valued at $1,235,000. Finally, Vestal Point Capital LP grew its holdings in Inari Medical by 342.9% during the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company's stock valued at $63,922,000 after purchasing an additional 1,200,000 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Inari Medical Stock Performance

Shares of Inari Medical stock traded down $0.48 during trading on Friday, hitting $51.08. 640,225 shares of the stock were exchanged, compared to its average volume of 977,434. The stock has a market cap of $2.99 billion, a PE ratio of -38.19 and a beta of 0.97. The stock's fifty day moving average is $47.10 and its 200 day moving average is $47.68. Inari Medical, Inc. has a 12 month low of $36.73 and a 12 month high of $67.13.

Insider Activity

In other news, CEO Andrew Hykes sold 3,000 shares of the business's stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Hoffman sold 40,000 shares of Inari Medical 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 $29,482,255.68. This represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,000 shares of company stock valued at $8,990,990. Insiders own 10.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Inari Medical from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Stifel Nicolaus started coverage on Inari Medical in a report on Tuesday, September 17th. They issued a "hold" rating and a $50.00 price target for the company. Piper Sandler raised their price objective on Inari Medical from $50.00 to $52.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Canaccord Genuity Group lifted their price target on Inari Medical from $71.00 to $74.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Finally, Leerink Partnrs upgraded Inari Medical to a "hold" rating in a research report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $58.89.

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.