Sanders Morris Harris LLC bought a new position in Reata Pharmaceuticals Inc (NASDAQ:RETA) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 2,925 shares of the company’s stock, valued at approximately $450,000.
Other institutional investors also recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in Reata Pharmaceuticals by 0.8% in the 4th quarter. ProShare Advisors LLC now owns 8,988 shares of the company’s stock worth $1,837,000 after buying an additional 71 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Reata Pharmaceuticals by 5.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 1,987 shares of the company’s stock worth $287,000 after buying an additional 101 shares in the last quarter. Dupont Capital Management Corp increased its stake in Reata Pharmaceuticals by 15.9% in the 1st quarter. Dupont Capital Management Corp now owns 2,012 shares of the company’s stock worth $290,000 after buying an additional 276 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Reata Pharmaceuticals by 2.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,346 shares of the company’s stock worth $1,638,000 after buying an additional 300 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Reata Pharmaceuticals by 0.9% in the 1st quarter. Alliancebernstein L.P. now owns 46,230 shares of the company’s stock worth $6,673,000 after buying an additional 400 shares in the last quarter. 67.33% of the stock is currently owned by institutional investors.
RETA traded down $1.38 on Thursday, hitting $156.62. The company had a trading volume of 628 shares, compared to its average volume of 529,440. The company has a market cap of $5.17 billion, a PE ratio of -16.06 and a beta of 2.03. Reata Pharmaceuticals Inc has a 12-month low of $70.00 and a 12-month high of $257.96. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.68. The business’s fifty day simple moving average is $155.18 and its 200 day simple moving average is $175.26.
Reata Pharmaceuticals (NASDAQ:RETA) last released its quarterly earnings results on Monday, May 11th. The company reported ($1.47) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.98) by $0.51. The company had revenue of $1.35 million during the quarter, compared to analyst estimates of $1.28 million. Reata Pharmaceuticals had a negative return on equity of 322.36% and a negative net margin of 1,542.06%. The firm’s revenue was down 82.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.98) earnings per share. On average, analysts anticipate that Reata Pharmaceuticals Inc will post -8.82 earnings per share for the current fiscal year.
A number of brokerages have issued reports on RETA. BidaskClub lowered Reata Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 11th. Cantor Fitzgerald raised their price objective on Reata Pharmaceuticals from $270.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. ValuEngine upgraded Reata Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Citigroup cut their price objective on Reata Pharmaceuticals from $328.00 to $254.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Finally, Robert W. Baird restated a “buy” rating and set a $268.00 price objective on shares of Reata Pharmaceuticals in a research report on Friday, June 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $255.11.
In related news, CAO Elaine Castellanos sold 2,000 shares of Reata Pharmaceuticals stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $143.97, for a total value of $287,940.00. Following the completion of the transaction, the chief accounting officer now owns 17,146 shares in the company, valued at $2,468,509.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 31.70% of the company’s stock.
About Reata Pharmaceuticals
Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl (Bard) for the treatment of patients with chronic kidney disease caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; and omaveloxolone that is Phase II clinical trial for the treatment of patients with Friedreich's ataxia It is also developing RTA 901, which completed Phase 1 clinical trials for the treatment of orphan neurological indications; and RORgT Inhibitors that are in the preclinical development phase for the potential treatment of a range of autoimmune, inflammatory, and fibrotic diseases.
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