recently disclosed that they own 15.4% of Reata Pharmaceuticals, Inc. (NASDAQ:RETA) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission on Wednesday, August 2nd. The investor owns 3,185,538 shares of the stock worth approximately $88,749,089. The reporting parties listed on the disclosure included William E Rose, Estate of Edward W Rose III, Evelyn P Rose, Evelyn P Rose Fidelity Rollover IRA, Charles Henry Rose 2001 Trust, John William Rose 2002 Trust, Charles E Gale, Charles E Gale Fidelity Rollover IRA, Puffin Partners, LP, Puffin GP, LLC, Montrose Investments I, LP and Montrose Investments GP, LLC. The disclosure is available through the SEC website at this hyperlink.
provided the following explanation of their ownership:
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A number of other large investors have also bought and sold shares of the company. Teachers Advisors LLC raised its stake in Reata Pharmaceuticals by 12.8% in the fourth quarter. Teachers Advisors LLC now owns 10,116 shares of the company’s stock valued at $221,000 after buying an additional 1,148 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Reata Pharmaceuticals by 18.1% in the first quarter. Bank of New York Mellon Corp now owns 22,213 shares of the company’s stock worth $503,000 after buying an additional 3,407 shares during the period. State Street Corp raised its stake in shares of Reata Pharmaceuticals by 5.1% in the fourth quarter. State Street Corp now owns 100,414 shares of the company’s stock worth $2,191,000 after buying an additional 4,879 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Reata Pharmaceuticals during the second quarter worth approximately $254,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Reata Pharmaceuticals by 44.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 27,200 shares of the company’s stock worth $861,000 after buying an additional 8,400 shares during the period. Institutional investors and hedge funds own 41.76% of the company’s stock.
Shares of Reata Pharmaceuticals, Inc. (RETA) traded up 3.19% on Friday, reaching $27.86. 191,152 shares of the company’s stock were exchanged. The firm’s market cap is $623.09 million. Reata Pharmaceuticals, Inc. has a one year low of $15.87 and a one year high of $41.60. The company has a 50 day moving average price of $31.09 and a 200 day moving average price of $26.12.
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RETA has been the topic of a number of analyst reports. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $53.00 price objective (up from $48.00) on shares of Reata Pharmaceuticals in a report on Monday, June 5th. ValuEngine raised shares of Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 27th. Zacks Investment Research downgraded shares of Reata Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, May 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price objective (up from $38.00) on shares of Reata Pharmaceuticals in a report on Tuesday, July 25th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $47.00 price objective (up from $43.00) on shares of Reata Pharmaceuticals in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $55.83.
In other Reata Pharmaceuticals news, Director James Edward Bass bought 8,064 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was bought at an average price of $31.00 per share, with a total value of $249,984.00. Following the completion of the purchase, the director now directly owns 67,411 shares in the company, valued at $2,089,741. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder A/S Novo sold 23,327 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $28.67, for a total value of $668,785.09. Following the sale, the insider now directly owns 942,467 shares of the company’s stock, valued at approximately $27,020,528.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 471,886 shares of company stock valued at $12,541,056. 62.40% of the stock is owned by insiders.
About Reata Pharmaceuticals
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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