Inari Medical Target of Unusually Large Options Trading (NASDAQ:NARI)

Inari Medical, Inc. (NASDAQ:NARI) was the recipient of some unusual options trading activity on Tuesday. Traders bought 11,622 call options on the stock. This represents an increase of approximately 2,174% compared to the typical daily volume of 511 call options.

Insider Activity at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the sale, the director now owns 601,233 shares in the company, valued at $27,067,509.66. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical 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 sale, the chief executive officer now owns 439,310 shares in the company, valued at $24,289,449.90. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,000 shares of company stock worth $10,527,870. Company insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Several institutional investors and hedge funds have recently bought and sold shares of NARI. Vestal Point Capital LP raised 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 worth $63,922,000 after buying an additional 1,200,000 shares during the period. Point72 Asset Management L.P. increased its holdings 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 valued at $71,324,000 after purchasing an additional 786,691 shares during the period. Armistice Capital LLC increased its holdings 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. Jennison Associates LLC increased its holdings in shares of Inari Medical by 63.2% in 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 during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Inari Medical by 101.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock valued at $32,790,000 after purchasing an additional 400,198 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Oppenheimer assumed coverage on shares of Inari Medical in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price target for the company. William Blair restated a “market perform” rating on shares of Inari Medical in a research note on Tuesday. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price objective (down previously from $81.00) on shares of Inari Medical in a report on Tuesday. Finally, Stifel Nicolaus began coverage on shares of Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Inari Medical has an average rating of “Hold” and an average price target of $66.50.

Inari Medical Price Performance

NASDAQ NARI traded up $14.33 on Tuesday, hitting $79.33. 12,289,911 shares of the company were exchanged, compared to its average volume of 6,513,685. The company’s 50 day moving average price is $52.24 and its 200-day moving average price is $48.69. The firm has a market capitalization of $4.64 billion, a P/E ratio of -58.76 and a beta of 0.97. Inari Medical has a twelve month low of $36.73 and a twelve month high of $79.48.

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.