Natera, Inc.'s (NASDAQ:NTRA) President and Chief Business Officer, John Fesko, has recently sold a portion of his company shares, according to the latest SEC filing. The transaction, which took place on July 22, involved the sale of 549 shares of common stock at a weighted average price of $105.16 per share, yielding a total value of approximately $57,732.
The shares were sold in multiple transactions with prices ranging from $104.73 to $105.16. The sale was executed to meet tax obligations related to the vesting of restricted stock units (RSUs), under a prearranged 10b5-1 trading plan, which allows insiders to sell shares at predetermined times to avoid accusations of trading on nonpublic information.
Following the sale, Fesko still retains a substantial stake in the company, owning 109,391 shares of Natera's common stock. The transaction was made public through a Form 4 filing with the Securities and Exchange Commission, which was signed by Tami Chen, Attorney-in-Fact, on behalf of Mr. Fesko.
Natera, headquartered in Austin, Texas, is a global leader in cell-free DNA testing with a focus on women's health, oncology, and organ health. The sale by a high-ranking executive may be of interest to current and potential investors, as it reflects changes in insider ownership of the company's stock.
In other recent news, Natera Inc . announced the full redemption of its outstanding 2.25% Convertible Senior Notes due 2027, which amounts to a principal of $287.5 million. This decision was made alongside an impressive financial performance, as Natera reported an 18% sequential revenue increase and a 52% rise year-over-year in Q1 2024. The company also revised its revenue guidance for the year upwards.
On the medical front, Natera initiated the DECIPHER trial, a novel treatment targeting gastroesophageal adenocarcinoma, utilizing its molecular residual disease test, Signatera. The company also plans to present new findings on Signatera at the 2024 American Society of Clinical Oncology Annual Meeting.
In terms of analyst coverage, Wolfe Research maintained its Outperform rating for Natera, keeping a steady price target of $135. Jefferies also began coverage on Natera shares with a Buy rating, setting a price target of $142, indicating confidence in the company's growth trajectory. These recent developments are noteworthy for investors looking to understand Natera's current position and future prospects.
InvestingPro Insights
Natera, Inc. (NASDAQ:NTRA), a pioneer in non-invasive genetic testing, has been making waves in the market with a notable performance. According to recent InvestingPro data, Natera boasts a substantial market capitalization of 13.07 billion USD, reflecting investor confidence in the company's growth potential. Despite not being profitable in the last twelve months, with a negative P/E ratio of -33.95, the company has shown impressive revenue growth of 39.26% over the same period, indicating a robust expansion in its operations.
InvestingPro Tips highlight that Natera has experienced a strong return over the last year, with a one-year price total return of 127.66%, and an even more significant price uptick over the last six months, at 62.35%. These figures underscore the company's recent market performance, which may be of keen interest to investors tracking stock momentum. Additionally, the company's liquid assets exceed its short-term obligations, suggesting a stable financial position for handling immediate liabilities.
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