Point72 DIFC Ltd Takes $9.01 Million Position in Inari Medical, Inc. (NASDAQ:NARI)

Point72 DIFC Ltd purchased a new position in shares of Inari Medical, Inc. (NASDAQ:NARI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 218,429 shares of the company’s stock, valued at approximately $9,008,000. Point72 DIFC Ltd owned approximately 0.37% of Inari Medical at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NARI. Lighthouse Investment Partners LLC acquired a new position in Inari Medical during the 2nd quarter worth $2,145,000. Aigen Investment Management LP acquired a new position in Inari Medical in the third quarter worth about $428,000. Dynamic Technology Lab Private Ltd bought a new stake in Inari Medical in the third quarter valued at about $1,397,000. Integral Health Asset Management LLC raised its stake in Inari Medical by 100.0% during the second quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock valued at $19,260,000 after buying an additional 200,000 shares in the last quarter. Finally, Vestal Point Capital LP lifted its holdings in Inari Medical by 342.9% during the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock worth $63,922,000 after buying an additional 1,200,000 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Inari Medical Trading Down 1.1 %

Shares of NASDAQ NARI opened at $51.55 on Wednesday. Inari Medical, Inc. has a 12-month low of $36.73 and a 12-month high of $67.13. The company has a market cap of $3.02 billion, a PE ratio of -38.18 and a beta of 0.97. The stock has a 50 day simple moving average of $46.67 and a 200-day simple moving average of $47.62.

Insiders Place Their Bets

In other news, CFO Mitch C. Hill sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total value of $135,390.00. Following the completion of the sale, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at approximately $8,105,348. This represents a 1.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Hoffman sold 60,000 shares of the firm’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 transaction of $3,069,600.00. Following the transaction, the director now owns 501,233 shares in the company, valued at $25,643,080.28. This represents a 10.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,000 shares of company stock worth $8,990,990. 10.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Leerink Partners assumed coverage on Inari Medical in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price target for the company. Piper Sandler boosted their target price on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Canaccord Genuity Group increased their price objective on shares of Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $58.89.

Inari Medical Company 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.