Inari Medical, Inc. (NASDAQ:NARI) Short Interest Up 25.3% in December

Inari Medical, Inc. (NASDAQ:NARI) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 3,660,000 shares, an increase of 25.3% from the November 30th total of 2,920,000 shares. Based on an average trading volume of 940,700 shares, the short-interest ratio is currently 3.9 days.

Insider Activity

In other news, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction 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 sale, the director now owns 601,233 shares in the company, valued at approximately $27,067,509.66. The trade was a 6.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the sale, the chief executive officer now owns 439,310 shares of the company’s stock, valued at $24,289,449.90. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,000 shares of company stock worth $10,527,870. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NARI. GAMMA Investing LLC lifted its stake 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 buying an additional 473 shares during the period. KBC Group NV increased its stake in shares of Inari Medical by 39.0% in the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after acquiring an additional 498 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after acquiring an additional 522 shares during the period. Covestor Ltd raised its position in shares of Inari Medical by 63.5% in the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock valued at $99,000 after acquiring an additional 926 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Inari Medical during the 2nd quarter worth approximately $104,000. 90.98% of the stock is currently owned by institutional investors.

Inari Medical Stock Down 2.0 %

NARI stock traded down $1.06 during midday trading on Friday, reaching $52.97. The company’s stock had a trading volume of 510,231 shares, compared to its average volume of 990,650. The business’s 50-day simple moving average is $51.08 and its 200-day simple moving average is $48.33. Inari Medical has a 52 week low of $36.73 and a 52 week high of $66.61. The stock has a market cap of $3.10 billion, a PE ratio of -39.24 and a beta of 0.97.

Analyst Ratings Changes

NARI has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Stifel Nicolaus began coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target on the stock. Canaccord Genuity Group increased their price objective on shares of Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Robert W. Baird boosted their target price on shares of Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler upped their target price on shares of Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.80.

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.