Cinctive Capital Management LP Has $1.33 Million Stake in Inari Medical, Inc. (NASDAQ:NARI)

Cinctive Capital Management LP reduced its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 82.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,277 shares of the company’s stock after selling 146,553 shares during the period. Cinctive Capital Management LP owned approximately 0.06% of Inari Medical worth $1,331,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Inari Medical by 164.7% during the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after buying an additional 438 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Inari Medical by 7.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock worth $234,000 after purchasing an additional 348 shares in the last quarter. AlphaMark Advisors LLC bought a new stake in Inari Medical in the 2nd quarter valued at about $355,000. Nisa Investment Advisors LLC boosted its holdings in Inari Medical by 83.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after purchasing an additional 435 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in shares of Inari Medical by 2.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 26,000 shares of the company’s stock worth $1,252,000 after purchasing an additional 600 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Inari Medical Price Performance

NARI stock opened at $51.55 on Wednesday. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -38.18 and a beta of 0.97. The company has a 50 day simple moving average of $46.67 and a 200 day simple moving average of $47.62. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $67.13.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NARI shares. Stifel Nicolaus began coverage on Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price target for the company. Truist Financial increased their target price on Inari Medical from $46.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft started coverage on Inari Medical in a research note on Friday, August 9th. They issued a “buy” rating and a $68.00 price target for the company. Robert W. Baird increased their price objective on shares of Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $58.89.

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.