Reata Pharmaceuticals, Inc. (NASDAQ:RETA) saw an uptick in trading volume on Monday after Piper Jaffray Companies raised their price target on the stock from $53.00 to $60.00. Piper Jaffray Companies currently has a buy rating on the stock. 1,103,256 shares were traded during trading, an increase of 1,387% from the previous session’s volume of 74,198 shares.The stock last traded at $35.47 and had previously closed at $31.10.
Other research analysts have also issued reports about the company. Zacks Investment Research lowered Reata Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. Citigroup Inc. raised their price target on Reata Pharmaceuticals from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. ValuEngine upgraded Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 27th. Finally, Ladenburg Thalmann Financial Services began coverage on Reata Pharmaceuticals in a research report on Thursday, April 13th. They set a “buy” rating and a $55.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $55.83.
In related news, Director James Edward Bass bought 8,064 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $31.00 per share, for a total transaction of $249,984.00. Following the completion of the acquisition, the director now owns 67,411 shares in the company, valued at approximately $2,089,741. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder A/S Novo sold 61,000 shares of Reata Pharmaceuticals stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $25.11, for a total value of $1,531,710.00. Following the completion of the transaction, the insider now owns 642,405 shares of the company’s stock, valued at $16,130,789.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 471,886 shares of company stock valued at $12,541,056. 62.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in 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. Teachers Advisors LLC raised its position in Reata Pharmaceuticals by 12.8% in the fourth quarter. Teachers Advisors LLC now owns 10,116 shares of the company’s stock worth $221,000 after buying an additional 1,148 shares during the period. Emerald Mutual Fund Advisers Trust raised its position in Reata Pharmaceuticals by 19.7% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 274,692 shares of the company’s stock worth $6,222,000 after buying an additional 45,133 shares during the period. Emerald Advisers Inc. PA raised its position in Reata Pharmaceuticals by 13.2% in the first quarter. Emerald Advisers Inc. PA now owns 370,199 shares of the company’s stock worth $8,385,000 after buying an additional 43,052 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in Reata Pharmaceuticals during the first quarter worth about $829,000. Hedge funds and other institutional investors own 42.06% of the company’s stock.
The company’s market capitalization is $686.25 million. The stock’s 50-day moving average price is $30.49 and its 200-day moving average price is $26.21.
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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