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Funds
4
Score
4.70
vs SPY
+17.6%
Stock return (since Q-end)
+19.7%
SPY return (since Q-end)
+2.1%
Current price
$324.84
Days to cover (short int.)
4.7d↓-12.1%
as of 2026-07-31
News Summary
PositiveNatera delivered a strong Q2 2026 with 37.7% revenue growth to $752.8M, 22.4% test volume growth, and record oncology volumes (+57.2%), prompting a $100M midpoint guidance raise to $2.85-2.91B for FY2026. Multiple regulatory wins for Signatera (FDA bladder cancer approval, Japan filing) and incoming Medicare reimbursement benefits for Prospera provide near-term catalysts, with analyst price targets raised and the stock surging 20.3%.
Red flags
- •Management explicitly tempered Q3 volume expectations, signaling deceleration after Q2's strong print driven partly by Q1 weather-related suppression
- •Routine insider selling by co-founder and executives (CFO, Executive Chairman) at/near record highs, while not uncommon, occurred during peak enthusiasm
- •Large shelf registration ($849M) filed immediately after earnings, suggesting potential dilution if capital raise executed
Funds Buying (4)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Duquesne Family Office | Stanley Druckenmiller | 3.2M | +123K | $865M | 19.9% | +4% | Existing |
| Maverick Capital | Lee Ainslie | 1.4M | +185K | $368M | 3.3% | +16% | Existing |
| Viking Global | Andreas Halvorsen | 391K | +391K | $106M | 0.3% | — | NEW |
| Point72 | Steve Cohen | 253K | +253K | $69M | 0.1% | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where NTRA ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
Duquesne Family Office
position #1 of this fund's book
- 1Natera Inc$865M
- 2Taiwan Semiconductor Manufac$282M
- 3Stmicroelectronics N V$232M
- 4Insmed Inc$152M
Maverick Capital
position #10 of this fund's book
- 7NU HLDGS LTD$475M
- 8META PLATFORMS INC$430M
- 9GFL ENVIRONMENTAL INC$375M
- 10NATERA INC$368M
- 11TAIWAN SEMICONDUCTOR MANUFAC$340M
- 12DICKS SPORTING GOODS INC$334M
- 13MICROSOFT CORP$310M
Values are quarter-end position sizes. Shown only for funds where NTRA ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | LONG | 4 | 4.70 | +17.6% |
| Q1 2026 | LONG | 3 | 3.74 | +35.3% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| Sheena Jonathan | — | SELL | 6K | $325.32 | $1.95M | 2026-08-10 | ↗ |
| Sheena Jonathan | — | SELL | 5K | $316.61 | $1.62M | 2026-08-07 | ↗ |
| Sheena Jonathan | — | SELL | 200 | $317.96 | $0.06M | 2026-08-07 | ↗ |
| Sheena Jonathan | — | SELL | 100 | $318.63 | $0.03M | 2026-08-07 | ↗ |
| Sheena Jonathan | — | SELL | 489 | $320.90 | $0.16M | 2026-08-07 | ↗ |
| Sheena Jonathan | — | SELL | 600 | $315.32 | $0.19M | 2026-08-07 | ↗ |
| Rabinowitz Matthew | EXECUTIVE CHAIRMAN | SELL | 2K | $320.90 | $0.64M | 2026-08-07 | ↗ |
| Sheena Jonathan | — | SELL | 850 | $314.25 | $0.27M | 2026-08-07 | ↗ |
| Sheena Jonathan | — | SELL | 400 | $311.88 | $0.12M | 2026-08-07 | ↗ |
| Sheena Jonathan | — | SELL | 400 | $310.23 | $0.12M | 2026-08-07 | ↗ |
| Sheena Jonathan | — | SELL | 100 | $308.40 | $0.03M | 2026-08-07 | ↗ |
| Sheena Jonathan | — | SELL | 900 | $313.07 | $0.28M | 2026-08-07 | ↗ |
| Brophy Michael Burkes | CHIEF FINANCIAL OFFICER | SELL | 478 | $274.22 | $0.13M | 2026-08-04 | ↗ |
| Moshkevich Solomon | PRESIDENT, CLINICALDIAGNOSTICS | SELL | 947 | $263.94 | $0.25M | 2026-08-03 | ↗ |
| Moshkevich Solomon | PRESIDENT, CLINICALDIAGNOSTICS | SELL | 192 | $265.27 | $0.05M | 2026-08-03 | ↗ |
| Moshkevich Solomon | PRESIDENT, CLINICALDIAGNOSTICS | SELL | 1K | $267.79 | $0.33M | 2026-08-03 | ↗ |
| Moshkevich Solomon | PRESIDENT, CLINICALDIAGNOSTICS | SELL | 128 | $268.70 | $0.03M | 2026-08-03 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 334 | $267.99 | $0.09M | 2026-08-03 | ↗ |
| Sheena Jonathan | — | SELL | 109 | $267.99 | $0.03M | 2026-08-03 | ↗ |
| Rabinowitz Matthew | EXECUTIVE CHAIRMAN | SELL | 731 | $267.99 | $0.20M | 2026-08-03 | ↗ |
| Brophy Michael Burkes | CHIEF FINANCIAL OFFICER | SELL | 317 | $267.99 | $0.08M | 2026-08-03 | ↗ |
| Chapman Steven Leonard | CEO AND PRESIDENT | SELL | 1K | $267.99 | $0.32M | 2026-08-03 | ↗ |
| Chapman Steven Leonard | CEO AND PRESIDENT | SELL | 160 | $259.98 | $0.04M | 2026-08-03 | ↗ |
| Chapman Steven Leonard | CEO AND PRESIDENT | SELL | 70 | $261.02 | $0.02M | 2026-08-03 | ↗ |
| Chapman Steven Leonard | CEO AND PRESIDENT | SELL | 676 | $263.86 | $0.18M | 2026-08-03 | ↗ |
| Chapman Steven Leonard | CEO AND PRESIDENT | SELL | 80 | $265.27 | $0.02M | 2026-08-03 | ↗ |
| Chapman Steven Leonard | CEO AND PRESIDENT | SELL | 296 | $267.08 | $0.08M | 2026-08-03 | ↗ |
| Chapman Steven Leonard | CEO AND PRESIDENT | SELL | 612 | $268.22 | $0.16M | 2026-08-03 | ↗ |
| Fesko John | PRESIDENT, CHIEF BUS. OFFICER | SELL | 295 | $267.99 | $0.08M | 2026-08-03 | ↗ |
| Moshkevich Solomon | PRESIDENT, CLINICALDIAGNOSTICS | SELL | 410 | $267.99 | $0.11M | 2026-08-03 | ↗ |
| Moshkevich Solomon | PRESIDENT, CLINICALDIAGNOSTICS | SELL | 300 | $259.98 | $0.08M | 2026-08-03 | ↗ |
| Moshkevich Solomon | PRESIDENT, CLINICALDIAGNOSTICS | SELL | 200 | $261.49 | $0.05M | 2026-08-03 | ↗ |
| Brophy Michael Burkes | CHIEF FINANCIAL OFFICER | SELL | 2K | $249.38 | $0.46M | 2026-07-29 | ↗ |
| Sheena Jonathan | — | SELL | 191 | $254.07 | $0.05M | 2026-07-28 | ↗ |
| Brophy Michael Burkes | CHIEF FINANCIAL OFFICER | SELL | 170 | $254.33 | $0.04M | 2026-07-28 | ↗ |
| Brophy Michael Burkes | CHIEF FINANCIAL OFFICER | SELL | 1K | $253.77 | $0.26M | 2026-07-28 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 1K | $254.07 | $0.25M | 2026-07-28 | ↗ |
| Brophy Michael Burkes | CHIEF FINANCIAL OFFICER | SELL | 1K | $254.07 | $0.32M | 2026-07-28 | ↗ |
| Moshkevich Solomon | PRESIDENT, CLINICALDIAGNOSTICS | SELL | 1K | $254.07 | $0.31M | 2026-07-28 | ↗ |
| Chapman Steven Leonard | CEO AND PRESIDENT | SELL | 4K | $254.07 | $0.91M | 2026-07-28 | ↗ |
| Fesko John | PRESIDENT, CHIEF BUS. OFFICER | SELL | 931 | $254.07 | $0.24M | 2026-07-28 | ↗ |
| Fesko John | PRESIDENT, CHIEF BUS. OFFICER | SELL | 782 | $260.49 | $0.20M | 2026-07-27 | ↗ |
| Sheena Jonathan | — | SELL | 288 | $260.49 | $0.08M | 2026-07-27 | ↗ |
| Rabinowitz Matthew | EXECUTIVE CHAIRMAN | SELL | 2K | $260.49 | $0.45M | 2026-07-27 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 884 | $260.49 | $0.23M | 2026-07-27 | ↗ |
| Moshkevich Solomon | PRESIDENT, CLINICALDIAGNOSTICS | SELL | 1K | $260.49 | $0.26M | 2026-07-27 | ↗ |
| Chapman Steven Leonard | CEO AND PRESIDENT | SELL | 2K | $260.49 | $0.57M | 2026-07-27 | ↗ |
| Brophy Michael Burkes | CHIEF FINANCIAL OFFICER | SELL | 782 | $260.49 | $0.20M | 2026-07-27 | ↗ |
| Sheena Jonathan | — | SELL | 450 | $273.05 | $0.12M | 2026-07-15 | ↗ |
| Sheena Jonathan | — | SELL | 90 | $274.26 | $0.02M | 2026-07-15 | ↗ |
| Sheena Jonathan | — | SELL | 170 | $275.26 | $0.05M | 2026-07-15 | ↗ |
| Sheena Jonathan | — | SELL | 40 | $276.38 | $0.01M | 2026-07-15 | ↗ |
| Sheena Jonathan | — | SELL | 390 | $273.01 | $0.11M | 2026-07-15 | ↗ |
| Sheena Jonathan | — | SELL | 100 | $273.68 | $0.03M | 2026-07-15 | ↗ |
| Sheena Jonathan | — | SELL | 180 | $274.99 | $0.05M | 2026-07-15 | ↗ |
| Sheena Jonathan | — | SELL | 80 | $276.01 | $0.02M | 2026-07-15 | ↗ |
| Chapman Rowan E | — | SELL | 135 | $274.82 | $0.04M | 2026-07-15 | ↗ |
| Sheena Jonathan | — | SELL | 500 | $262.72 | $0.13M | 2026-07-13 | ↗ |
| Sheena Jonathan | — | SELL | 800 | $264.29 | $0.21M | 2026-07-13 | ↗ |
| Sheena Jonathan | — | SELL | 400 | $265.15 | $0.11M | 2026-07-13 | ↗ |
| Sheena Jonathan | — | SELL | 500 | $266.75 | $0.13M | 2026-07-13 | ↗ |
| Sheena Jonathan | — | SELL | 450 | $267.72 | $0.12M | 2026-07-13 | ↗ |
| Sheena Jonathan | — | SELL | 500 | $268.39 | $0.13M | 2026-07-13 | ↗ |
| Rabinowitz Matthew | EXECUTIVE CHAIRMAN | SELL | 1K | $280.00 | $0.28M | 2026-07-06 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 2K | $266.79 | $0.42M | 2026-07-01 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 4K | $268.11 | $0.99M | 2026-07-01 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 2K | $268.99 | $0.52M | 2026-07-01 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 484 | $269.87 | $0.13M | 2026-07-01 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 1K | $270.96 | $0.37M | 2026-07-01 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 454 | $272.14 | $0.12M | 2026-07-01 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 500 | $274.19 | $0.14M | 2026-07-01 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 1K | $275.20 | $0.30M | 2026-07-01 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 1K | $276.24 | $0.39M | 2026-07-01 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 2K | $277.29 | $0.57M | 2026-07-01 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 2K | $278.25 | $0.54M | 2026-07-01 | ↗ |
| RABINOWITZ DANIEL | SEC. AND CHIEF LEGAL OFFICER | SELL | 300 | $278.77 | $0.08M | 2026-07-01 | ↗ |
| Moshkevich Solomon | PRESIDENT, CLINICALDIAGNOSTICS | SELL | 100 | $267.19 | $0.03M | 2026-07-01 | ↗ |
| Moshkevich Solomon | PRESIDENT, CLINICALDIAGNOSTICS | SELL | 3K | $272.99 | $0.71M | 2026-07-01 | ↗ |
| Moshkevich Solomon | PRESIDENT, CLINICALDIAGNOSTICS | SELL | 300 | $274.06 | $0.08M | 2026-07-01 | ↗ |
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| T. Rowe Price Associates, Inc. | SC 13G/A | 9.0M | 6.3% | 2026-08-14 | ↗ |
| Vanguard Capital Management | SC 13G | 7.2M | 5.1% | 2026-04-30 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.