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NTRA · Analysis updated Nov 6, 2026, 11:45 AM ET
Why is Natera, Inc. (NTRA) stock moving?
Natera reported Q3 2026 revenue of $794.0M, up 34.1%. Oncology tests grew 60.9%, the net loss narrowed to $59.9M, and full-year revenue guidance was raised by $140M at the midpoint to $3.005B–$3.035B. The stock sold off hard anyway. It fell about 7% on Nov 5 to $363.76 on heavy volume of roughly 3.2M shares, before the report. It then dropped a further 12–16% in after-hours and pre-market trading, to about $306–$318. Reports describe the quarter as mixed. Possible reasons in the data are gross margin slipping to 64.7% from 64.9%, a drop in revenue true-ups to about $32M from $52M, and total test growth of 22.3%. The stock had also rallied sharply, to a 52-week high of $437.41 on Oct 6, so expectations were high. Shares are now about 27% below that peak. Fundamentals remain strong, with a consensus Strong Buy rating and an average price target near $416. Near-term momentum is clearly negative and volatility is elevated. Payer reimbursement is an ongoing risk.
News behind the analysis
- Natera Reports Third Quarter 2026 Financial Results (SEC 8-K)Q3 revenue was $794.0M, up 34.1%. Oncology tests processed rose 60.9% to about 339,500. Net loss narrowed to $59.9M, or $0.42 per share.
- Natera Reports Third Quarter 2026 Financial ResultsGross margin was 64.7%, against 64.9% a year earlier. Excluding true-ups, non-GAAP gross margin rose 137 basis points from Q2.
- What Is Driving Natera's 34 Percent Revenue Growth and Raised 2026 Guidance?Natera raised 2026 revenue guidance by $140M at the midpoint, to $3.005B–$3.035B. Volume and revenue growth were led by oncology testing.
- Natera Q3 2026 Earnings Call TranscriptManagement said revenue grew more than 40% excluding true-ups. True-ups were about $32M, down from $52M in Q2. Management expects full-year revenue above $3B.
- DraftKings Posts Downbeat Q3 Results, Joins Atlassian, Natera And Other Big Stocks Moving Lower In Friday's Pre-Market SessionNatera fell 12.6% to $318.00 in pre-market trading after what the article called mixed quarterly results.
- Natera Q3 2026 net loss narrows 32% year over year to $59.91 millionRevenue was $794M, up 34%, helped by higher volumes and better average selling prices. Natera raised 2026 guidance to $3.01B–$3.04B and expects positive cash flow.
- Natera (NTRA) Q3 2026 Earnings: Revenue Growth of 34% Highlights Scaling Operating LeverageClinical MRD units rose by 32,700 sequentially. The article notes that payer policy changes or lower reimbursement could cause retroactive adjustments that hit margins.
- Natera, Inc. (NTRA) Stock Price, News, Quote & HistoryShares traded near $366 on Nov 5, down about 6.4%, before the earnings release. The 52-week range is $181.00–$437.41, and the average price target is about $416.
- Natera, Inc. quote (NTRA) - CNBCNTRA closed at $363.76 on Nov 5, down 6.97%. After-hours trading showed a drop of about 15.9% after the results.