Sheena Jonathan, co-founder and director of Natera, Inc. (NASDAQ:NTRA), recently sold shares of the company's common stock totaling approximately $745,470. The transactions, which took place on November 8, involved multiple sales at prices ranging from $129.78 to $131.85 per share. Following these transactions, Jonathan retains direct ownership of 279,772 shares and indirect ownership through trusts, reflecting her ongoing investment in the company.
In other recent news, Natera, Inc. has experienced a significant surge in its Q3 results. The genetic testing firm reported a loss of $0.26 per share, surpassing analyst estimates of a $0.57 loss. Revenue saw a notable increase to $439.8 million, a rise of 63.9% year-over-year, and well above the projected $361.43 million. Natera processed around 775,800 tests in this quarter, marking a 23.9% increase from the same period last year, with oncology test volumes showing a robust growth of 54.4% year-over-year.
The company has also updated its 2024 revenue guidance to $1.61-$1.64 billion, exceeding analyst expectations of $1.52 billion. Positive cash flow is now projected to be between $50-$75 million for the full year. Lastly, Natera reported a significant expansion in gross margin to 61.8% in Q3, up from 45.1% in the previous year, a result of increased revenues and ongoing cost reduction efforts. These recent developments underscore Natera's strong positioning within the genetic testing market.
InvestingPro Insights
Natera's recent stock performance aligns with the insider selling activity reported. According to InvestingPro data, the company's shares are trading near their 52-week high, with a substantial 178.37% price total return over the past year. This impressive performance is part of a broader trend, as InvestingPro Tips indicate that Natera has delivered high returns over both the last year and the last decade.
Despite the strong market performance, it's worth noting that Natera is not currently profitable. An InvestingPro Tip suggests that analysts do not anticipate the company will be profitable this year. This is reflected in the negative P/E ratio of -57.21 for the last twelve months as of Q2 2024. However, the company's revenue growth remains robust, with a 46.13% increase over the same period.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Natera, providing deeper insights into the company's financial health and market position. These tips can be particularly valuable in understanding the context of insider transactions and the company's growth trajectory in the biotechnology sector.
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