Vestal Point Capital LP Boosts Stock Position in Inari Medical, Inc. (NASDAQ:NARI)

Vestal Point Capital LP lifted its position in Inari Medical, Inc. (NASDAQ:NARI) by 342.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,550,000 shares of the company’s stock after acquiring an additional 1,200,000 shares during the quarter. Inari Medical accounts for approximately 4.8% of Vestal Point Capital LP’s investment portfolio, making the stock its 4th largest holding. Vestal Point Capital LP owned approximately 2.65% of Inari Medical worth $63,922,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in Inari Medical by 164.7% in the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after purchasing an additional 438 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after acquiring an additional 435 shares in the last quarter. KBC Group NV lifted its position in Inari Medical by 39.0% during the third quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after acquiring an additional 498 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Inari Medical by 39.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after acquiring an additional 522 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Inari Medical by 63.5% in the third quarter. Covestor Ltd now owns 2,384 shares of the company’s stock worth $99,000 after purchasing an additional 926 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Inari Medical

In other news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 501,233 shares of the company’s stock, valued at $25,643,080.28. This represents a 10.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief executive officer now directly owns 445,310 shares in the company, valued at $22,265,500. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,000 shares of company stock worth $8,990,990 in the last three months. Company insiders own 10.60% of the company’s stock.

Inari Medical Trading Up 0.4 %

Shares of NASDAQ:NARI opened at $51.03 on Friday. The company has a market capitalization of $2.99 billion, a PE ratio of -37.80 and a beta of 0.96. Inari Medical, Inc. has a 12-month low of $36.73 and a 12-month high of $67.13. The business has a 50 day moving average of $46.14 and a two-hundred day moving average of $47.48.

Analysts Set New Price Targets

Several brokerages recently weighed in on NARI. Leerink Partnrs upgraded Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Canaccord Genuity Group lifted their target price 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. Leerink Partners began coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Inari Medical in a research note on Friday, August 9th. They set a “buy” rating and a $68.00 price objective for the company. Finally, Piper Sandler lifted their price target on Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Inari Medical has a consensus rating of “Hold” and a consensus 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.