Inari Medical Sees Unusually Large Options Volume (NASDAQ:NARI)

Inari Medical, Inc. (NASDAQ:NARI) was the recipient of some unusual options trading activity on Tuesday. Investors acquired 11,622 call options on the company. This represents an increase of approximately 2,174% compared to the average daily volume of 511 call options.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday. Stifel Nicolaus assumed coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective for the company. BTIG Research reissued a “neutral” rating on shares of Inari Medical in a report on Wednesday. Baird R W cut Inari Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price objective (down previously from $81.00) on shares of Inari Medical in a report on Tuesday. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Inari Medical presently has a consensus rating of “Hold” and a consensus target price of $68.00.

Insider Activity at Inari Medical

In other Inari Medical news, Director William Hoffman sold 200,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $60.47, for a total value of $12,094,000.00. Following the sale, the director now owns 238,987 shares of the company’s stock, valued at $14,451,543.89. This trade represents a 45.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction dated 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 owns 445,310 shares of the company’s stock, valued at $22,265,500. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 406,000 shares of company stock worth $22,621,870. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NARI. GAMMA Investing LLC boosted its holdings in shares of Inari Medical by 66.8% in the fourth quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock valued at $100,000 after acquiring an additional 786 shares during the period. Franklin Resources Inc. boosted its stake in Inari Medical by 2.2% during the 3rd quarter. Franklin Resources Inc. now owns 223,810 shares of the company’s stock worth $9,445,000 after purchasing an additional 4,899 shares during the period. Barclays PLC grew its position in Inari Medical by 9.7% during the 3rd quarter. Barclays PLC now owns 288,079 shares of the company’s stock worth $11,881,000 after purchasing an additional 25,365 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in Inari Medical by 316.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 44,318 shares of the company’s stock valued at $1,828,000 after purchasing an additional 33,682 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of Inari Medical by 32.4% in the third quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock valued at $3,927,000 after buying an additional 23,286 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Inari Medical Stock Performance

NARI opened at $79.30 on Thursday. Inari Medical has a one year low of $36.73 and a one year high of $79.69. The stock has a market capitalization of $4.64 billion, a P/E ratio of -58.74 and a beta of 0.97. The business’s 50-day simple moving average is $52.85 and its 200-day simple moving average is $48.92.

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.