Traders Buy Large Volume of Inari Medical Call Options (NASDAQ:NARI)

Inari Medical, Inc. (NASDAQ:NARI) saw unusually large options trading on Tuesday. Stock traders acquired 11,622 call options on the company. This is an increase of approximately 2,174% compared to the average daily volume of 511 call options.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NARI shares. BTIG Research reiterated a “neutral” rating on shares of Inari Medical in a research report on Wednesday. Canaccord Genuity Group reaffirmed a “hold” rating and set a $80.00 target price (up previously from $74.00) on shares of Inari Medical in a report on Tuesday. William Blair reissued a “market perform” rating on shares of Inari Medical in a research note on Tuesday. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $80.00 price objective (up previously from $65.00) on shares of Inari Medical in a research note on Tuesday. Finally, Robert W. Baird reissued a “neutral” rating and issued a $80.00 target price (down from $81.00) on shares of Inari Medical in a research note on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $68.00.

Inari Medical Price Performance

Shares of NASDAQ NARI opened at $79.30 on Thursday. Inari Medical has a 1 year low of $36.73 and a 1 year high of $79.69. The company has a market capitalization of $4.64 billion, a P/E ratio of -58.74 and a beta of 0.97. The company has a 50 day simple moving average of $52.85 and a 200-day simple moving average of $48.92.

Insider Buying and Selling

In other news, Director William Hoffman sold 200,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the completion of the sale, the director now owns 238,987 shares of the company’s stock, valued at $14,451,543.89. The trade was a 45.56 % decrease in their ownership of the stock. 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 the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the transaction, the chief executive officer now directly owns 439,310 shares in the company, valued at $24,289,449.90. This represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 406,000 shares of company stock valued at $22,621,870. 10.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Inari Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of Inari Medical by 67.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock worth $49,000 after purchasing an additional 473 shares during the period. KBC Group NV lifted its stake in Inari Medical by 39.0% during the third quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after purchasing an additional 498 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Inari Medical by 39.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after buying an additional 522 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Inari Medical in the second quarter valued at $104,000. Finally, Quest Partners LLC raised its holdings in shares of Inari Medical by 31,257.1% in the 2nd quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock valued at $106,000 after buying an additional 2,188 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.