AUSTIN, Texas—Solomon Moshkevich, President of Clinical Diagnostics at Natera, Inc. (NASDAQ:NTRA), recently sold 1,196 shares of the company's common stock. The shares were sold at an average price of $118.21, amounting to a total transaction value of $141,379. Following this transaction, Moshkevich retains ownership of 110,695 shares in the company.
The sale was made to satisfy tax withholding and remittance obligations related to the vesting of restricted stock units (RSUs). This transaction was conducted under a pre-arranged trading plan, in compliance with Rule 10b5-1 under the Securities Exchange Act.
In other recent news, Natera Inc . has seen a surge in revenue, with a 58% year-over-year and a 12% sequential increase from the first quarter. Canaccord Genuity (TSX:CF), maintaining its Buy rating, raised the price target for Natera's stock to $150 from $145, citing strong performance prospects. Natera has also secured a permanent injunction against NeoGenomics (NASDAQ:NEO)' RaDaR assay, asserting its patent rights within the genetic testing market.
Analysts from Piper Sandler, TD (TSX:TD) Cowen, and Canaccord Genuity have reiterated their positive stances on Natera, maintaining their price targets and Buy ratings. These endorsements are 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 and the non-renewal of the Foundation Medicine partnership, 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
Natera's recent stock performance and financial metrics provide additional context to Solomon Moshkevich's recent share sale. According to InvestingPro data, Natera's stock has shown remarkable strength, with a 221.08% price total return over the past year and a 102.31% return year-to-date. This impressive performance aligns with an InvestingPro Tip indicating that the stock has been trading near its 52-week high, currently at 94.9% of that peak.
The company's financial health appears mixed. While Natera boasts strong revenue growth, with a 58.13% increase in quarterly revenue as of Q2 2024, it is not yet profitable. An InvestingPro Tip notes that analysts do not anticipate the company will be profitable this year. This is reflected in the negative operating income of -$313.73 million for the last twelve months.
Despite the lack of profitability, Natera's market capitalization stands at a substantial $15.65 billion, suggesting investor confidence in its future prospects. The company's price-to-book ratio of 18.74 indicates that the market values Natera significantly higher than its book value, which could be attributed to its growth potential in the clinical diagnostics sector.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Natera, providing a deeper understanding of the company's financial position and market performance.
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