AUSTIN, Texas—Michael Burkes, Chief Financial Officer of Natera, Inc. (NASDAQ:NTRA), recently sold 1,866 shares of the company's common stock. The shares were sold at an average price of $126.45 each, resulting in a total transaction value of $235,955. Following this sale, Burkes retains ownership of 68,851 shares.
The transaction was conducted under a pre-arranged trading plan, as noted in a footnote accompanying the filing. This plan, known as a Rule 10b5-1 trading plan, was adopted by Burkes in March 2023, allowing for scheduled sales of stock to avoid potential conflicts of interest.
In other recent news, Natera Inc ., a leader in personalized genetic testing and diagnostics, continues to make significant strides. Canaccord Genuity has recently maintained a Buy rating on the company's stock, highlighting promising developments such as potential updates to reimbursement and guidelines favoring Natera's products. Canaccord Genuity also noted the company's improvements in gross margins, which are now comparable to its peers, and a quarter of cash flow breakeven.
In a legal development, Natera secured a permanent injunction against NeoGenomics (NASDAQ:NEO)' RaDaR assay, asserting its patent rights within the genetic testing market. This move is part of the company's broader efforts to protect its intellectual property rights in the genetic testing market.
Analysts from Piper Sandler and TD Cowen have also maintained their positive stances on Natera, reiterating their price targets and Buy ratings. Their confidence is based on the forthcoming Galaxy study results and Natera's presentation at the European Society for Medical Oncology (ESMO) conference.
Natera's Signatera test is set to change oncological discussions as it moves beyond measuring sensitivity to providing insights on overall survival and disease-free survival. Despite a delay in the submission of the ALTAIR study, Natera is projecting a 40% revenue growth compared to 2023. These recent developments underscore Natera's commitment to growth and innovation in the personalized genetic testing and diagnostics space.
InvestingPro Insights
While Michael Burkes' recent stock sale might raise eyebrows, it's essential to view this transaction within the broader context of Natera's performance and market position. According to InvestingPro data, Natera's stock has shown remarkable strength, with a 206.19% price total return over the past year and a 98.21% return year-to-date. This impressive performance aligns with an InvestingPro Tip indicating that the stock has been trading near its 52-week high.
The company's financial health appears robust, with revenue growth of 46.13% over the last twelve months, reaching $1.36 billion. This growth trajectory is further supported by a strong gross profit margin of 53.85%. However, investors should note that despite this growth, Natera is not yet profitable, as highlighted by another InvestingPro Tip.
For those seeking a deeper understanding of Natera's potential, InvestingPro offers 12 additional tips that could provide valuable insights into the company's prospects. These tips, along with real-time metrics, can help investors make more informed decisions about Natera's stock in the context of recent insider transactions.
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