What Sent Natera Stock Lower?
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Natera (NTRA) stock fell 14.6% on Friday, November 6, 2026, while the S&P 500 gained 0.3%. The decline followed the release of the company’s third-quarter results on November 5. Revenue beat analysts’ estimates, but the loss per share was wider than analysts had expected. So what did Natera report about its sales, its loss and its spending?
Natera’s Sales Beat, But Its Spending Is Rising
Natera generated $794 million in revenue for the quarter ended September 30, 2026, beating the $707.5 million analysts expected. Revenue climbed 34.1% from a year earlier as demand for its cancer-monitoring tests grew.
The company narrowed its quarterly loss to $59.9 million, down from $87.5 million a year earlier, yet the loss per share still came in wider than analysts had expected.
Management raised its 2026 revenue forecast by about $140 million at the midpoint, pushing the projection to more than $3 billion for the year. The company also set a goal of doubling revenue to $6 billion in 2029.
Costs are going up as well. Management said the company sped up investment in its pharma offerings, sales team and operations, pushing 2026 operating costs above earlier plans. Natera raised the top of its 2026 range for selling, general and administrative costs to $1.3 billion, from $1.225 billion. Management expects operating costs to grow 10% to 12% in 2027. The company also announced a change in leadership, with management saying the board agreed the time was right for a leadership transition “from a position of strength.”
Natera Fell Far More Than Comparable Companies
Health care stocks barely moved on Friday, with the sector fund XLV slipping 0.1% during the same session. Of the five companies on Natera’s Trefis peer list, Myriad Genetics fell the most at 5.9%, while Illumina rose 2.5%. Natera’s decline was more than twice the drop at Myriad Genetics: the stock moved on its own report, not with its group.
How Rare Was A Fall Like This For Natera?
Natera stock had not fallen this much in a single session over the prior 365 days. Its only move this large during that time was a 21.4% gain on August 7, 2026. Friday’s drop also followed a 7.0% fall on November 5.
Over the past month, the stock lost 20.5%, against a 4.9% fall for the S&P 500. Its November 6 close of $310.67 was well below the 52-week closing high of $436.0 reached on October 29. Even so, Natera stock returned 55.4% over the past twelve months, against 9.8% for the S&P 500.
The next report will cover Natera’s fourth quarter of 2026. Natera’s operating loss, which was $68.3 million in the third quarter, is the figure to watch in that report.
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