Michael Burkes, the Chief Financial Officer of Natera, Inc. (NASDAQ:NTRA), recently executed a sale of company stock, according to an SEC filing. On October 23, Burkes sold 496 shares of Natera's common stock at a weighted average price of $119.09 per share, amounting to a total transaction value of $59,068.
This sale was conducted as part of a pre-established trading plan, which was designed to satisfy tax withholding obligations related to the vesting of restricted stock units. Following this transaction, Burkes holds 74,314 shares of Natera's common stock.
In a separate transaction on October 22, Burkes acquired 1,250 shares of common stock through the vesting of restricted stock units, although this acquisition did not involve any cash exchange.
In other recent news, Natera, Inc. has secured a permanent injunction against NeoGenomics (NASDAQ:NEO)' RaDaR assay, following a preliminary injunction in December 2023. This development is part of Natera's broader efforts to enforce its '454 patent claims within the genetic testing market. In financial news, Natera reported a 12% sequential revenue increase from the first quarter and a 58% surge year-over-year, projecting a 40% revenue growth compared to 2023. Analysts from Piper Sandler, TD Cowen, and Canaccord Genuity have maintained positive stances on Natera, reiterating their price targets and Buy ratings. These recent developments underscore Natera's commitment to growth and innovation in the personalized genetic testing and diagnostics space. In anticipation of the new Galaxy study results, Piper Sandler reaffirmed its positive stance on Natera, maintaining an Overweight rating. Additionally, TD Cowen maintained a Buy rating on shares of Natera, expressing optimism regarding the potential of the forthcoming 36-month GALAXY data. Lastly, Canaccord Genuity has maintained a Buy rating on Natera with a price target of $145, highlighting Natera's presentation of new data from the CIRCULATE-Japan trial at the European Society for Medical Oncology Congress.
InvestingPro Insights
While Michael Burkes' recent stock transaction provides insight into executive activity, a broader look at Natera's financial metrics and market performance offers additional context for investors. According to InvestingPro data, Natera boasts a substantial market capitalization of $14.72 billion, reflecting its significant presence in the biotechnology sector.
The company's revenue growth has been particularly impressive, with a 46.13% increase over the last twelve months as of Q2 2024, reaching $1.36 billion. This robust top-line expansion is further emphasized by a strong quarterly revenue growth of 58.13% in Q2 2024, indicating accelerating momentum in Natera's business operations.
InvestingPro Tips highlight that Natera has delivered a high return over the last year, with the stock price showing a remarkable 190.88% total return over the past 12 months. This performance aligns with the tip noting a "large price uptick over the last six months," as evidenced by the 29.67% price total return over that period.
Despite these positive indicators, it's worth noting that Natera is not currently profitable, with a negative operating income of $313.73 million over the last twelve months. This aligns with another InvestingPro Tip suggesting that analysts do not anticipate the company to be profitable this year.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights, with 11 more tips available for Natera. These tips can provide a deeper understanding of the company's financial health, market position, and potential future performance.
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