Quantbot Technologies LP Invests $1.25 Million in Inari Medical, Inc. (NASDAQ:NARI)

Quantbot Technologies LP acquired a new stake in Inari Medical, Inc. (NASDAQ:NARI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 30,273 shares of the company’s stock, valued at approximately $1,248,000.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC raised its stake in shares of Inari Medical by 63.2% in the 3rd quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock valued at $65,021,000 after acquiring an additional 610,468 shares during the period. Point72 Asset Management L.P. increased its holdings in Inari Medical by 113.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after purchasing an additional 786,691 shares during the last quarter. Armistice Capital LLC raised its position in Inari Medical by 353.1% in the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after purchasing an additional 786,501 shares during the period. American Century Companies Inc. lifted its stake in Inari Medical by 26.8% during the second quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock worth $47,231,000 after purchasing an additional 207,485 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Inari Medical by 101.3% during the third quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock worth $32,790,000 after purchasing an additional 400,198 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief executive officer now owns 445,310 shares in the company, valued at $22,265,500. The trade was a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $51.16, for a total value of $3,069,600.00. Following the completion of the transaction, the director now directly owns 501,233 shares of the company’s stock, valued at $25,643,080.28. This trade represents a 10.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,000 shares of company stock valued at $8,990,990 in the last ninety days. Insiders own 10.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NARI shares. Stifel Nicolaus assumed coverage on Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Inari Medical in a research note on Friday, August 9th. They set a “buy” rating and a $68.00 target price on the stock. Finally, Truist Financial raised their price target on shares of Inari Medical from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.89.

Inari Medical Trading Up 1.7 %

Inari Medical stock opened at $51.92 on Friday. The company has a fifty day simple moving average of $46.31 and a 200-day simple moving average of $47.52. The stock has a market cap of $3.04 billion, a P/E ratio of -38.46 and a beta of 0.96. Inari Medical, Inc. has a 12-month low of $36.73 and a 12-month high of $67.13.

Inari Medical Profile

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy devices and accessories for the specific disease states in the United States. The company provides ClotTriever system, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; FlowTriever system, a large bore catheter-based aspiration and mechanical thrombectomy system to remove large clots from large vessels in the peripheral vasculature for treating pulmonary embolism and other complex venous thromboembolism cases; InThrill system to treat small vessel thrombosis; and LimFlow system for patients who have chronic limb-threatening ischemia with no suitable endovascular or surgical revascularization options and risk of major amputation.