Michael Burkes, the Chief Financial Officer of Natera, Inc. (NASDAQ:NTRA), has recently sold shares in the company valued at approximately $127,932, according to a recent SEC filing. The transactions took place on October 21 and October 22. Burkes sold 608 shares at a weighted average price of $120.7574 and an additional 454 shares at a price of $120.07. These sales were made following the vesting of restricted stock units, as part of a pre-arranged trading plan. Following these transactions, Burkes retains direct ownership of 73,560 shares in Natera.
In other recent news, Natera, Inc. secured a permanent injunction against NeoGenomics (NASDAQ:NEO)' RaDaR assay, following a preliminary injunction granted last year. This development is part of Natera's broader efforts to protect its intellectual property rights within the genetic testing market. Analysts from Piper Sandler, TD Cowen, and Canaccord Genuity have maintained positive stances on Natera, reiterating their price targets and Buy ratings. These ratings 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 expected to shift oncological discussions as it moves beyond measuring sensitivity to providing insights on overall survival and disease-free survival. The company's Renasight test has also received an endorsement from the National Kidney Foundation for chronic kidney disease testing. 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.
The company has made significant strides in the personalized genetic testing and diagnostics sector with a 12% sequential revenue increase from the first quarter and a 58% surge year-over-year. These recent developments underscore Natera's commitment to growth and innovation in the personalized genetic testing and diagnostics space.
InvestingPro Insights
The recent insider sale by Natera's CFO Michael Burkes comes at a time when the company's stock has shown remarkable performance. According to InvestingPro data, Natera has delivered a staggering 199.28% price total return over the past year, with a 91.49% return year-to-date. This strong performance aligns with an InvestingPro Tip indicating that Natera has achieved a high return over the last year.
Despite the impressive stock performance, it's worth noting that Natera is not currently profitable. An InvestingPro Tip suggests that analysts do not anticipate the company will be profitable this year. This is reflected in the company's financial metrics, with a negative operating income of -$313.73 million for the last twelve months as of Q2 2023.
However, Natera's growth story remains compelling. The company has demonstrated robust revenue growth, with a 46.13% increase in the last twelve months and an even more impressive 58.13% quarterly growth in Q2 2023. This strong top-line performance could be a factor in the stock's positive momentum.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Natera, providing a deeper understanding of the company's financial health and market position. These insights could be particularly valuable given the stock's volatility, as highlighted by another InvestingPro Tip.
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