Trexquant Investment LP Buys 30,167 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Trexquant Investment LP grew its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 21.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,520 shares of the company’s stock after buying an additional 30,167 shares during the quarter. Trexquant Investment LP owned 0.29% of Inari Medical worth $8,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in Inari Medical by 1.2% in the fourth quarter. Franklin Resources Inc. now owns 226,580 shares of the company’s stock valued at $11,567,000 after acquiring an additional 2,770 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of Inari Medical by 12.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 7,935 shares of the company’s stock worth $405,000 after buying an additional 909 shares during the last quarter. Norges Bank purchased a new position in shares of Inari Medical in the fourth quarter worth approximately $14,447,000. EntryPoint Capital LLC bought a new stake in Inari Medical during the fourth quarter valued at approximately $388,000. Finally, Prudential Financial Inc. increased its holdings in Inari Medical by 9.2% during the fourth quarter. Prudential Financial Inc. now owns 170,400 shares of the company’s stock valued at $8,699,000 after buying an additional 14,290 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Inari Medical Stock Performance

Shares of NASDAQ:NARI opened at $79.97 on Thursday. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of -59.24 and a beta of 1.02. The firm has a fifty day moving average price of $79.90 and a 200 day moving average price of $62.16. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $79.99.

Insiders Place Their Bets

In other news, Director William Hoffman sold 200,000 shares of Inari Medical 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 directly owns 238,987 shares of the company’s stock, valued at approximately $14,451,543.89. The trade was a 45.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.60% of the company’s stock.

Analyst Upgrades and Downgrades

NARI has been the subject of a number of recent research reports. Baird R W downgraded shares of Inari Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. BTIG Research restated a “neutral” rating on shares of Inari Medical in a research report on Wednesday, January 8th. Oppenheimer assumed coverage on Inari Medical in a research report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price objective on the stock. Piper Sandler increased their target price on shares of Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $80.00 price target (up previously from $74.00) on shares of Inari Medical in a report on Tuesday, January 7th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $68.00.

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.