Reata Pharmaceuticals Inc (RETA) Position Cut by Emerald Advisers Inc. PA

Emerald Advisers Inc. PA decreased its position in Reata Pharmaceuticals Inc (NASDAQ:RETA) by 13.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 473,275 shares of the company’s stock after selling 72,245 shares during the period. Reata Pharmaceuticals makes up approximately 1.4% of Emerald Advisers Inc. PA’s holdings, making the stock its 11th biggest position. Emerald Advisers Inc. PA’s holdings in Reata Pharmaceuticals were worth $38,695,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Reata Pharmaceuticals by 26.2% in the second quarter. BlackRock Inc. now owns 1,503,780 shares of the company’s stock valued at $52,587,000 after buying an additional 311,924 shares during the period. Emerald Mutual Fund Advisers Trust lifted its holdings in Reata Pharmaceuticals by 3.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 486,741 shares of the company’s stock valued at $17,021,000 after buying an additional 15,627 shares during the period. Point72 Asset Management L.P. acquired a new position in Reata Pharmaceuticals in the second quarter valued at $6,962,000. Northern Trust Corp lifted its holdings in Reata Pharmaceuticals by 41.5% in the second quarter. Northern Trust Corp now owns 183,930 shares of the company’s stock valued at $6,432,000 after buying an additional 53,946 shares during the period. Finally, King Luther Capital Management Corp lifted its holdings in Reata Pharmaceuticals by 47.3% in the second quarter. King Luther Capital Management Corp now owns 93,516 shares of the company’s stock valued at $3,270,000 after buying an additional 30,021 shares during the period. Institutional investors and hedge funds own 40.73% of the company’s stock.

In other news, insider Keith Wayne Ward sold 14,250 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of $57.08, for a total transaction of $813,390.00. Following the transaction, the insider now owns 14,250 shares in the company, valued at $813,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 31.69% of the stock is currently owned by corporate insiders.

Several equities analysts recently issued reports on RETA shares. Zacks Investment Research lowered shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Cantor Fitzgerald restated a “buy” rating and issued a $100.00 target price on shares of Reata Pharmaceuticals in a report on Monday, October 1st. LADENBURG THALM/SH SH restated a “buy” rating and issued a $133.00 target price on shares of Reata Pharmaceuticals in a report on Wednesday, September 26th. Leerink Swann restated an “outperform” rating and issued a $139.00 target price (up previously from $116.00) on shares of Reata Pharmaceuticals in a report on Tuesday, September 25th. Finally, BidaskClub lowered shares of Reata Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, September 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Reata Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $100.33.

Shares of NASDAQ RETA opened at $56.55 on Wednesday. Reata Pharmaceuticals Inc has a 1-year low of $19.31 and a 1-year high of $99.50. The stock has a market cap of $1.72 billion, a PE ratio of -28.42 and a beta of 2.77.

Reata Pharmaceuticals (NASDAQ:RETA) last announced its quarterly earnings data on Wednesday, August 8th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.34). The firm had revenue of $7.57 million for the quarter, compared to analysts’ expectations of $9.11 million. Sell-side analysts forecast that Reata Pharmaceuticals Inc will post -2.56 EPS for the current fiscal year.

About Reata Pharmaceuticals

Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on identifying, developing, and commercializing therapeutics to address serious and life-threatening diseases with therapies by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl for the treatment of patients with chronic kidney disease caused by Alport syndrome; and for a form of pulmonary arterial hypertension associated with connective tissue disease.

Featured Story: Fundamental Analysis and Choosing Stocks

Want to see what other hedge funds are holding RETA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reata Pharmaceuticals Inc (NASDAQ:RETA).

Institutional Ownership by Quarter for Reata Pharmaceuticals (NASDAQ:RETA)

Receive News & Ratings for Reata Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reata Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply