Investors Buy High Volume of Inari Medical Call Options (NASDAQ:NARI)

Inari Medical, Inc. (NASDAQ:NARI) was the recipient of unusually large options trading on Tuesday. Investors purchased 11,622 call options on the stock. This represents an increase of 2,174% compared to the average volume of 511 call options.

Inari Medical Trading Up 22.2 %

Inari Medical stock opened at $79.45 on Wednesday. Inari Medical has a 1 year low of $36.73 and a 1 year high of $79.50. The company’s 50-day moving average is $52.85 and its two-hundred day moving average is $48.92. The company has a market cap of $4.65 billion, a PE ratio of -58.85 and a beta of 0.97.

Analyst Upgrades and Downgrades

Several analysts recently commented on NARI shares. Oppenheimer started coverage on Inari Medical in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a report on Tuesday. Stifel Nicolaus initiated coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price on the stock. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $80.00 price target (up from $65.00) on shares of Inari Medical in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $68.00.

Insider Buying and Selling

In related news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total value of $1,800,800.00. Following the sale, the director now owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. This trade represents a 6.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the transaction, the chief executive officer now owns 445,310 shares of the company’s stock, valued at approximately $22,265,500. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,000 shares of company stock worth $10,527,870 over the last ninety days. 10.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in 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 acquiring an additional 473 shares during the last quarter. KBC Group NV raised its holdings in Inari Medical by 39.0% in 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 during the period. 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 purchasing an additional 522 shares in the last quarter. Covestor Ltd grew its holdings in shares of Inari Medical by 63.5% in the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock valued at $99,000 after buying an additional 926 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Inari Medical in the 2nd quarter valued at $104,000. 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.