Zacks Investment Research cut shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETA) from a hold rating to a sell rating in a research note issued to investors on Tuesday.
According to Zacks, “Reata Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It is engaged in identifying, developing and commercializing product candidates which modulate the activity of regulatory proteins involved in the biology of mitochondrial function, oxidative stress and inflammation to address the unmet medical needs of serious or life-threatening diseases. Reata Pharmaceuticals, Inc. is based in Irving, United States. “
Several other analysts have also recently commented on RETA. ValuEngine raised shares of Reata Pharmaceuticals from a sell rating to a hold rating in a research note on Saturday, May 27th. Piper Jaffray Companies reissued an overweight rating and set a $48.00 price target on shares of Reata Pharmaceuticals in a research note on Tuesday, April 4th. Ladenburg Thalmann Financial Services initiated coverage on shares of Reata Pharmaceuticals in a research note on Thursday, April 13th. They set a buy rating and a $55.00 price target on the stock. Finally, Citigroup Inc. increased their price objective on shares of Reata Pharmaceuticals from $32.00 to $39.00 and gave the company a buy rating in a report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $43.00.
Shares of Reata Pharmaceuticals (NASDAQ:RETA) traded up 3.02% during midday trading on Tuesday, reaching $31.36. The company had a trading volume of 105,258 shares. The firm’s 50 day moving average price is $29.74 and its 200-day moving average price is $25.35. The company’s market capitalization is $701.37 million. Reata Pharmaceuticals has a 12 month low of $15.17 and a 12 month high of $41.60.
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In other Reata Pharmaceuticals news, major shareholder A/S Novo sold 11,389 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $25.47, for a total value of $290,077.83. Following the sale, the insider now directly owns 642,405 shares in the company, valued at $16,362,055.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 471,886 shares of company stock worth $12,541,056. Company insiders own 62.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Keel Point LLC raised its stake in shares of Reata Pharmaceuticals by 45.3% in the first quarter. Keel Point LLC now owns 79,071 shares of the company’s stock worth $1,791,000 after buying an additional 24,639 shares during the last quarter. King Luther Capital Management Corp bought a new stake in shares of Reata Pharmaceuticals during the first quarter worth approximately $1,268,000. Renaissance Technologies LLC bought a new stake in shares of Reata Pharmaceuticals during the first quarter worth approximately $559,000. Geode Capital Management LLC raised its stake in shares of Reata Pharmaceuticals by 19.5% in the first quarter. Geode Capital Management LLC now owns 63,778 shares of the company’s stock worth $1,444,000 after buying an additional 10,397 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of Reata Pharmaceuticals during the first quarter worth approximately $395,000. Institutional investors own 41.90% of the company’s stock.
Reata Pharmaceuticals Company Profile
Reata Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on identifying, developing and commercializing product candidates that modulate the activity of regulatory proteins involved in the biology of mitochondrial function, oxidative stress, and inflammation to address the unmet medical needs of patients with a range of serious or life-threatening diseases.
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