Michael Burkes, the Chief Financial Officer of Natera, Inc. (NASDAQ:NTRA), recently made several transactions involving the company's common stock. According to a recent SEC filing, Burkes sold shares totaling $247,378. These sales were executed over several days, with prices ranging from $171.09 to $172.44 per share. The transactions come as Natera's stock has shown remarkable performance, with InvestingPro data showing a 159% return over the past year.
On January 23, Burkes sold 495 shares at a price of $171.09 each. The following day, January 24, he sold an additional 687 shares at $171.80 per share and 259 shares at $172.44 per share. These transactions were made under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks to avoid potential accusations of insider trading.
Prior to these sales, Burkes acquired 1,250 shares of Natera common stock through the vesting of Restricted Stock Units (RSUs) on January 22. These RSUs were converted to common stock as part of his compensation package, with no direct purchase price involved.
Following these transactions, Burkes holds a total of 109,474 shares of Natera.
In other recent news, Natera Inc . has seen significant developments. Barclays (LON:BARC) has upgraded Natera's stock rating to Overweight with a target of $200, citing the company's successful expansion into new markets. TD (TSX:TD) Cowen also reiterated a Buy rating on Natera shares, raising the price target from $175 to $195. Both firms highlight the company's impressive revenue growth, with a recent record Q3 revenue of $439.8 million, marking a 64% increase from the previous year.
Natera has also expanded its patent infringement litigation against NeoGenomics (NASDAQ:NEO) involving the RaDaR assay, while facing a setback in a false advertising lawsuit against Guardant Health (NASDAQ:GH). The company plans to request the court to overturn the ruling in the latter case. Furthermore, an agreement with Executive Chairman, Dr. Rabinowitz, has been amended for him to continue his role under certain conditions.
These recent developments provide insights into Natera's current status and future prospects. However, it's important to note that these are based on analyst expectations and the company's own reports, and investors should conduct their own research and due diligence.
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