Natera, Inc. (NASDAQ:NTRA) reported that its Secretary and Chief Legal Officer, Daniel Rabinowitz, has sold a portion of his company stock. According to the latest regulatory filings, Rabinowitz disposed of 2,723 shares at a price of $108.3658 per share, totaling over $295,000.
The transaction, which took place on July 1, 2024, was part of a planned sale to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs). The RSUs were granted to Rabinowitz back on October 22, 2021, with the vesting of these units contingent upon achieving certain performance milestones. As of June 28, 2024, criteria for the vesting of RSUs covering 5,000 shares of common stock were met.
It's important to note that the sale was executed in accordance with a pre-arranged trading plan, which is designed to provide an affirmative defense against accusations of trading on insider information. The plan is in line with Rule 10b5-1(c) under the Exchange Act, as stated in the stock unit agreement.
Following the sale, Rabinowitz's direct ownership in Natera stands at 206,772 shares of common stock. This latest transaction provides investors with a glimpse into the trading activities of Natera's executives and may offer insights into the company's performance and stock valuation.
In other recent news, Natera Inc . has embarked on the DECIPHER trial, a pioneering approach to gastroesophageal adenocarcinoma treatment, utilizing the company's molecular residual disease test, Signatera. The trial aims to evaluate a HER2-directed antibody-drug conjugate's efficacy in patients post-surgery. Natera has also reported a robust 18% sequential revenue increase and a 52% rise year-over-year in the first quarter of 2024, prompting an upward revision of their revenue guidance for the year to between $1.42 billion and $1.45 billion. Analyst firms Wolfe Research and Jefferies have maintained positive ratings for Natera, with Wolfe Research maintaining an outperform rating and Jefferies issuing a buy rating. In addition, Piper Sandler and BTIG have raised their price targets for the company. Natera is also set to present new findings on Signatera at the upcoming 2024 American Society of Clinical Oncology Annual Meeting. These recent developments highlight Natera's ongoing commitment to advancing the field of genetic testing and improving patient outcomes.
InvestingPro Insights
Amid the news of Natera, Inc.'s (NASDAQ:NTRA) executive Daniel Rabinowitz selling a portion of his company stock, investors may be looking for deeper financial insights into the company's performance. According to InvestingPro data, Natera currently holds a market capitalization of $13.58 billion USD. The company's revenue has seen impressive growth, with a 39.26% increase over the last twelve months as of Q1 2024 and an even more substantial quarterly revenue growth of 52.11% in Q1 2024.
However, despite these growth figures, Natera's profitability remains a concern as analysts, according to InvestingPro Tips, do not expect the company to be profitable this year. The company's P/E ratio stands at -35.36, reflecting these profitability challenges. Additionally, the Price / Book ratio is at a high 17.12, which suggests that the stock is trading at a premium compared to the company's book value.
InvestingPro Tips highlight that Natera's stock has experienced high volatility and is currently trading near its 52-week high, with a price 94.43% of that high. This could be indicative of investor optimism or speculatory trading. For those looking to delve further into Natera's financials and stock performance, there are additional InvestingPro Tips available, providing a comprehensive analysis of the company's financial health and market position.
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