Natera Inc (NASDAQ:NTRA) shares are trading lower by 31.2% at $37.66 after Hindenburg Research issued a short report on the stock.
Hindenburg Research stated, "Based on more than 2 dozen interviews with former Natera employees, patients and industry experts, a review of hundreds of online complaints, FOIA requests to state Medicaid offices and state Attorneys General, and the company’s financial filings, we show how Natera’s revenue growth has been fueled by deceptive sales and billing practices aimed at doctors, insurance companies and expectant mothers."
Natera at 2:33pm EST issued a press release responding to the short report: "We disagree with the accuracy of the recent report generated by short sellers Hindenburg Research in an attempt to make a quick profit. This is the same story short sellers have been pitching for many years." Read More
Hindenburg Research is one of many short seller firms being probed by the Department of Justice, according to a Feburary Bloomberg Law report.
Natera Inc is operative in the health care field in the United States.
Natera has a 52-week high of $129.09 and a 52-week low of $26.10.
Editor's note: This story has been updated to reflect changes made by Natera to its press release on the short report.
