Inari Medical, Inc. (NASDAQ:NARI) is Vestal Point Capital LP’s 4th Largest Position

Vestal Point Capital LP lifted its holdings in Inari Medical, Inc. (NASDAQ:NARI) by 342.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,550,000 shares of the company’s stock after buying an additional 1,200,000 shares during the period. Inari Medical makes up 4.8% of Vestal Point Capital LP’s holdings, making the stock its 4th biggest position. Vestal Point Capital LP’s holdings in Inari Medical were worth $63,922,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its stake in Inari Medical by 7.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock worth $234,000 after purchasing an additional 348 shares in the last quarter. Arizona State Retirement System boosted its stake in Inari Medical by 2.5% during the second quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock worth $703,000 after buying an additional 358 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Inari Medical by 83.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after buying an additional 435 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Inari Medical by 164.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after acquiring an additional 438 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after acquiring an additional 498 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the sale, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at approximately $22,265,500. This represents a 0.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the sale, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 186,000 shares of company stock worth $8,990,990 in the last quarter. 10.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

NARI has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Inari Medical from $46.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Robert W. Baird lifted their price target on shares of Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft began coverage on Inari Medical in a research report on Friday, August 9th. They issued a “buy” rating and a $68.00 price objective for the company. Canaccord Genuity Group lifted their target price on Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Leerink Partners started coverage on Inari Medical in a report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $58.89.

Inari Medical Stock Up 0.4 %

NASDAQ:NARI opened at $51.03 on Friday. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -37.80 and a beta of 0.96. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $67.13. The company has a fifty day simple moving average of $46.14 and a two-hundred day simple moving average of $47.48.

About Inari Medical

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.