Less than two weeks later, on January 14, 2022, the Campaign for Accountability – a nonprofit watchdog group – filed a complaint with the SEC requesting an investigation as to whether "Natera repeatedly claimed – in marketing materials and earnings calls – that [its] tests are much more reliable than it appears they really are." On this news, the price of Natera common stock fell $6.29 per share, or more than 9%, from a close of $67.37 per share on January 14, 2022, to close at $61.08 per share on January 18, 2022. Then, on March 9, 2022, Hindenburg Research issued an investigative report alleging that "Natera's revenue growth has been fueled by deceptive sales and billing practices aimed at doctors, insurance companies and expectant mothers." On this news, the price of Natera common stock fell as much as $28.65 per share, or more than 52%, from a close of $54.75 per share on March 8, 2022, to an intra-day low of $26.10 per share on March 9, 2022.