Rtw Investments 13F: Cuts Natera (NTRA) Stake by $67M

Rtw Investments Trims Natera Stake

Healthcare-focused fund Rtw Investments dialed back its investment in diagnostics maker Natera, Inc. (NASDAQ: NTRA). According to the fund's latest Form 13F filing with the Securities and Exchange Commission, Rtw Investments trimmed its position by 16.666666666666664% during the reporting period ending May 15, 2026.

Because 13F filings are backward-looking documents, they show a fund's portfolio at the end of a specific quarter. They do not necessarily reflect what Rtw Investments or other major players are holding in their portfolios today.

Detail on the Share Reduction

During the quarter, Rtw Investments sold 250,000 shares of the Austin, Texas-based genetic testing company. The transaction left the firm with 1,250,000 shares of Natera. At the close of the reporting window, this remaining position was valued at $333,806,266.78. Before making this move, the firm held 1,500,000 shares of the diagnostics company.

Natera Stock Performance

Shares of Natera were trading around $267.05 on Saturday, reflecting a period of consolidation after a broad upward trend. The stock has traded in a wide range over the past year, finding a floor at $157.43 and reaching as high as $373.07.

Even with the recent pullback, Natera has stayed in a healthy position relative to its long-term momentum. The stock's current price sits comfortably above its 200-day moving average of $241.36, though it is trading slightly under its shorter-term 50-day moving average of $306.30. Investors often watch these moving averages to gauge if a stock's trend is strengthening or weakening.

Recent Earnings and Financial Health

Natera reported total revenue of $2,707,076,096.00, supported by a revenue growth rate of 0.377% compared to the prior year. However, the company is still in its high-growth phase and has not yet achieved profitability.

It reported a net loss for the period, with a negative net margin of -0.07105 and a return on equity of -0.1254. Because its earnings per share came in at -$1.37, the company does not have a meaningful price-to-earnings ratio to evaluate. The company's next earnings report is scheduled for November 5, 2026, when investors will look for signs of narrowing losses.

Insider Buying and Selling at Natera, Inc.

Company insiders have shown a mix of activity recently. On June 24, 2026, Daniel Rabinowitz, the company's Secretary and Chief Legal Officer, sold 33,600 shares at an average price of $251.65, totaling $8,455,403.04. This sale was executed under a pre-arranged trading plan.

Just two days later, on June 26, 2026, several board members and insiders stepped in to buy shares on the open market. Rowan Chapman acquired 1,674 shares, Thomas Lynch JR. purchased 1,905 shares, and Roelof Botha bought 1,691 shares. Additionally, Roy Baynes picked up 1,646 shares, and Eric Rubin bought 75 shares on the same day. These purchases show that multiple board members were eager to increase their personal stakes in the business.

Analysts Set New Price Targets

Wall Street analysts have grown increasingly optimistic about Natera's growth potential. On October 14, 2026, JP Morgan maintained its Overweight rating on the stock and raised its price target from $360.00 to $460.00. A day earlier, on October 13, 2026, Morgan Stanley kept its Overweight rating and bumped its target up to $435.00 from $355.00, while TD Cowen maintained a Buy rating and increased its target to $480.00 from $340.00.

Other major investment banks have followed suit. Barclays maintained an Overweight rating on October 7, 2026, raising its price target to $475.00. Citigroup held its Buy rating on October 6, 2026, and pushed its target to $480.00, while Guggenheim reiterated a Buy rating on October 1, 2026, with a target of $475.00. Earlier, on September 25, 2026, RBC Capital kept an Outperform rating with a $460.00 target, and UBS maintained a Buy rating on September 9, 2026, with a $435.00 target. Overall, the consensus among 23 analysts is a Strong Buy, with an average price target of $348.02.

About Natera, Inc.

Natera develops and sells advanced molecular testing services. The company is best known for its clinical genetic tests, including prenatal screenings and customized blood tests that help doctors monitor cancer recurrence and treatment responses. These tests help patients and physicians make highly personalized healthcare decisions.

What's Ahead for Natera, Inc.

As Natera continues to grow its testing volume and expand its market share in oncology and prenatal health, investors will want to see if the company can convert its strong revenue growth into consistent profitability. The upcoming November earnings announcement will provide the next major update on the company's financial progress.