NTRA - Natera defended at Canaccord Genuity; calls Hindenburg claims unfounded

Natera (NTRA -42.3%), a maker of non-invasive prenatal tests, has reached the lowest level since April 2020 on Wednesday after Hindenburg Research released a short report alleging, among other things, that the company’s “deceptive sales and billing practices" have driven its growth. However, Canaccord Genuity analyst Kyle Mikson defends the stock, noting that Hindenburg has a short position on Natera (NASDAQ:NTRA) shares which had more than tripled in value over the past three years before today’s slide. “The author criticizes Natera's potential use of third parties for prior authorizations as well as deceptive billing practices,” Mikson wrote, adding that there are not adequate details to back the first claim, and the second claim is not a new allegation.   “Although we recognize the research that Hindenburg undertook, we believe the negative claims are unfounded,” Mikson argued, maintaining the Buy recommendation and the $150 per share target on the stock. Citing a New York

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Natera defended at Canaccord Genuity; calls Hindenburg claims “unfounded”