Aigen Investment Management LP Takes Position in Inari Medical, Inc. (NASDAQ:NARI)

Aigen Investment Management LP acquired a new position in shares of Inari Medical, Inc. (NASDAQ:NARI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,369 shares of the company’s stock, valued at approximately $428,000.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its holdings in Inari Medical by 113.3% during the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after purchasing an additional 786,691 shares during the last quarter. Armistice Capital LLC boosted its stake in shares of Inari Medical by 353.1% in the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after buying an additional 786,501 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Inari Medical by 11.1% in the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after acquiring an additional 561,562 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Inari Medical by 1,219.9% during the second quarter. The Manufacturers Life Insurance Company now owns 394,901 shares of the company’s stock valued at $19,014,000 after acquiring an additional 364,983 shares during the last quarter. Finally, First Light Asset Management LLC lifted its holdings in Inari Medical by 120.8% during the second quarter. First Light Asset Management LLC now owns 472,384 shares of the company’s stock worth $22,745,000 after acquiring an additional 258,444 shares during the period. Institutional investors own 90.98% of the company’s stock.

Inari Medical Price Performance

Inari Medical stock opened at $49.24 on Friday. The firm has a market capitalization of $2.88 billion, a P/E ratio of -36.47 and a beta of 0.96. Inari Medical, Inc. has a one year low of $36.73 and a one year high of $67.13. The business has a fifty day moving average price of $45.09 and a 200-day moving average price of $46.85.

Insiders Place Their Bets

In related news, CFO Mitch C. Hill sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total transaction of $135,390.00. Following the sale, the chief financial officer now owns 179,600 shares of the company’s stock, valued at approximately $8,105,348. This represents a 1.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the completion of the transaction, the director now directly owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,000 shares of company stock worth $5,921,390 in the last quarter. 10.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NARI. Deutsche Bank Aktiengesellschaft started coverage on Inari Medical in a research report on Friday, August 9th. They set a “buy” rating and a $68.00 target price for the company. Robert W. Baird lifted their price objective on shares of Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler increased their target price on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Finally, Leerink Partners assumed coverage on Inari Medical in a research note on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.89.

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.