AUSTIN, Texas—Sheena Jonathan, co-founder and director of Natera, Inc. (NASDAQ:NTRA), recently sold a significant portion of her shares in the company. According to a filing with the Securities and Exchange Commission, Jonathan executed sales of common stock totaling $953,337 on December 18. The transaction comes as Natera's stock has shown remarkable performance, with a 168.5% return over the past year and a current market capitalization of $21.4 billion.
The transactions involved multiple sales at prices ranging from $165.9748 to $168.1456 per share. Following these sales, Jonathan continues to hold a substantial number of shares, both directly and indirectly, through trusts.
The sales were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling shares. This strategy is often used to avoid potential accusations of insider trading.
Natera, headquartered in Austin, Texas, is known for its contributions to the medical laboratory services industry, specializing in genetic testing and analysis. The company continues to be a significant player in the field, with its stock trading actively on the NASDAQ exchange. The company has demonstrated strong revenue growth of 54.9% in the last twelve months, maintaining a robust current ratio of 4.39, though InvestingPro analysis suggests the stock may be trading above its Fair Value.
In other recent news, Natera Inc (NASDAQ:NTRA). has expanded its patent infringement litigation against NeoGenomics (NASDAQ:NEO), Inc. over the RaDaR assay, a test for molecular residual disease. The company also reported a record Q3 revenue of $439.8 million, marking a 64% increase year-over-year, and conducted 137,000 oncology tests, a 54% increase from the previous year. Amid these developments, TD (TSX:TD) Cowen, Baird, and Jefferies reiterated favorable ratings on Natera's stock and raised their price targets. The company faced a setback in a false advertising lawsuit against Guardant Health (NASDAQ:GH), but plans to request the court to overturn the ruling. Lastly, Natera has amended an agreement with Dr. Rabinowitz, the Executive Chairman, to continue his role with conditions outlined in the agreement. These are the most recent developments for the genetic testing company.
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