Natera CFO Michael Burkes sells $235,955 worth of stock Via Investing.com
AUSTIN, Texas—Michael Burkes, Chief Financial Officer of Natera, Inc. (NASDAQ:), recently sold 1,866 shares of the company’s common stock. The shares were sold at an average price of $126.45 each, resulting in a total transaction value of $235,955. After this sale, Burkes retains ownership of 68,851 shares.
The transaction is conducted under a pre-arranged trading plan, as noted in the accompanying footnote to the filing. This plan, known as the Rule 10b5-1 trading plan, was adopted by Burkes in March 2023, allowing the planned sale of stock to avoid potential conflicts of interest.
In other recent news, Company Natera Inc ., a leader in personalized genetic testing and diagnostics, continues to make significant advances. Canaccord Genuity recently maintained a buy rating on the company’s stock, highlighting promising developments such as potential reimbursement updates and guidance in favor of Natera’s products. Canaccord Genuity also noted the company’s improvement in gross margins, which are now comparable to its peers, and a quarter of its cash flow breakdown.
In a legal development, Natera obtained an injunction against NeoGenomics (NASDAQ:)’ RaDaR assay, asserting its patent rights within the genetic testing market. The move is part of the company’s broader efforts to protect its intellectual property rights in the genetic testing market.
Analysts from Piper Sandler and TD Cowen have also maintained their positive stance on Natera, reiterating their price targets and buy ratings. Their confidence is based on the results of the upcoming Galaxy study and Natera’s presentation at the European Society for Medical Oncology (ESMO) conference.
Natera’s Signatera test is set to change the oncological conversation as it goes beyond measuring sensitivity to providing information on overall survival and disease-free survival. Despite the delay in the delivery of the ALTAIR study, Natera predicts a 40% revenue growth compared to 2023. These latest developments underscore Natera’s commitment to growth and innovation in the genetic testing and diagnostics space.
InvestingPro Insights
While the recent sale of Michael Burkes stock may raise eyebrows, it is important to view this purchase within the broader context of Natera’s performance and market conditions. According to InvestingPro data, Natera’s stock has shown remarkable strength, with a total price return of 206.19% over the past year and a 98.21% year-to-date return. This impressive performance coincides with InvestingPro’s tip indicating that the stock was trading near its 52-week high.
The financial health of the company appears to be strong, with revenue growth of 46.13% in the last twelve months, reaching $1.36 billion. This growth trend is also supported by a strong gross profit margin of 53.85%. However, investors should note that despite this growth, Natera is still not profitable, as highlighted in another InvestingPro Tip.
For those looking for a deeper understanding of Natera’s potential, InvestingPro offers 12 additional tips that can provide valuable insight into the company’s prospects. These tips, along with real-time metrics, can help investors make informed decisions about Natera stock in the context of recent insider activity.
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