Reata Pharmaceuticals, Inc. (NASDAQ:RETA) Sees Large Volume Increase on Analyst Upgrade

Shares of 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 changed hands during mid-day 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 equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Reata Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. Citigroup Inc. boosted their price target on shares of 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 shares of 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 shares of Reata Pharmaceuticals in a research report on Thursday, April 13th. They issued a “buy” rating and a $55.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Reata Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $55.83.

In other Reata Pharmaceuticals news, major shareholder A/S Novo sold 222,503 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $25.71, for a total transaction of $5,720,552.13. Following the sale, the insider now owns 746,297 shares in the company, valued at approximately $19,187,295.87. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James Edward Bass acquired 8,064 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were bought at an average price of $31.00 per share, for a total transaction of $249,984.00. Following the acquisition, the director now owns 67,411 shares in the company, valued at approximately $2,089,741. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 471,886 shares of company stock worth $12,541,056. Corporate insiders own 62.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in RETA. FMR LLC boosted its position in Reata Pharmaceuticals by 74.4% in the second quarter. FMR LLC now owns 414,491 shares of the company’s stock valued at $13,114,000 after buying an additional 176,885 shares during the period. Emerald Advisers Inc. PA boosted its position in Reata Pharmaceuticals by 9.8% in the second quarter. Emerald Advisers Inc. PA now owns 406,426 shares of the company’s stock valued at $12,859,000 after buying an additional 36,227 shares during the period. Vanguard Group Inc. boosted its position in Reata Pharmaceuticals by 109.6% in the second quarter. Vanguard Group Inc. now owns 295,540 shares of the company’s stock valued at $9,350,000 after buying an additional 154,515 shares during the period. Emerald Mutual Fund Advisers Trust boosted its position in Reata Pharmaceuticals by 7.0% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 293,927 shares of the company’s stock valued at $9,300,000 after buying an additional 19,235 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Reata Pharmaceuticals by 78.1% in the second quarter. JPMorgan Chase & Co. now owns 232,562 shares of the company’s stock valued at $7,359,000 after buying an additional 101,969 shares during the period. 42.06% of the stock is currently owned by institutional investors.

The firm’s market cap is $686.25 million. The firm’s 50-day moving average is $30.49 and its 200-day moving average is $26.21.

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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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