CluenexNatera NTRA
Natera scores average on business quality (4.9 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Natera does
Natera sells genetic testing services, focusing on women's health, organ health, and oncology molecular diagnostics. Hospitals and expectant parents pay for these tests to screen for genetic anomalies and monitor cancer recurrence.
- What it does best
Natera dominates molecular residual disease testing through Signatera, driving a top-decile 35.8% revenue growth. Its massive clinical database and proprietary algorithms create sticky provider relationships that peers like Gilead and Vertex lack.
- The main risk
Extreme overvaluation threatens returns, as the stock trades at $369 against an intrinsic value of $37. If growth slows even slightly from its 35% rate, the severe disconnect between price and cash generation could trigger a sharp multiple contraction.
Quality, check by check
Scored against its own industry, from company filings.
Operating margins sit at -10.7% with a net margin of -7.1%, dragging profitability scores to the floor. While free cash flow turned positive at $51M, the business still struggles to convert high revenue growth into actual bottom-line net income.
Natera commands a modest moat anchored by proprietary diagnostic assays that lock in hospital networks and oncologists. Its gross margin sits at 65%, trailing sector peers like Vertex at 86% due to high lab operating costs.
Revenue surged to $2.7B, powered by a 35.8% growth rate that sits in the 94th percentile of the healthcare sector. This top-line engine is accelerating compared to historical years, driven by rapid volume expansion in genetic and oncology testing.
Natera holds $1.0B in cash against just $80M in debt, offering a strong liquidity buffer. Free cash flow is positive at $51M, marking a steady turn from past burns, though overall financial health remains weighed down by persistent net losses.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
No open market buys or unplanned sales by executives or directors.
Our sealed record on NTRA
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Natera scores average on the Cluenex quality check (4.9 of 10), measured against its own industry. Profitability is weak, moat weak, growth fast and financial health fair.
In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.
Nov 4, 2026, after the close.
See NTRA today
- Today's verdict on NTRA, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Natera (NTRA)”, https://cluenex.com/stocks/ntra/, data as of Oct 10, 2026.