Panagora Asset Management Inc. Acquires Shares of 12,443 Reata Pharmaceuticals Inc (RETA)

Share on StockTwits

Panagora Asset Management Inc. acquired a new position in shares of Reata Pharmaceuticals Inc (NASDAQ:RETA) in the third quarter, Holdings Channel reports. The firm acquired 12,443 shares of the company’s stock, valued at approximately $1,017,000.

A number of other hedge funds also recently added to or reduced their stakes in RETA. Lee Financial Co bought a new position in Reata Pharmaceuticals during the third quarter worth $128,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Reata Pharmaceuticals during the second quarter worth $154,000. First Mercantile Trust Co. acquired a new stake in shares of Reata Pharmaceuticals during the third quarter worth $167,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Reata Pharmaceuticals by 53.2% during the second quarter. Metropolitan Life Insurance Co. NY now owns 5,460 shares of the company’s stock worth $191,000 after buying an additional 1,897 shares in the last quarter. Finally, Voya Investment Management LLC acquired a new stake in shares of Reata Pharmaceuticals during the second quarter worth $213,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on RETA shares. Cantor Fitzgerald started coverage on Reata Pharmaceuticals in a report on Thursday, August 23rd. They set an “overweight” rating and a $90.00 target price for the company. Zacks Investment Research downgraded Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Leerink Swann reissued an “outperform” rating and set a $139.00 target price (up previously from $116.00) on shares of Reata Pharmaceuticals in a report on Tuesday, September 25th. LADENBURG THALM/SH SH reissued a “buy” rating and set a $133.00 target price on shares of Reata Pharmaceuticals in a report on Wednesday, September 26th. Finally, BidaskClub downgraded Reata Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, September 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Reata Pharmaceuticals has an average rating of “Hold” and an average price target of $100.33.

In related news, major shareholder James W. Traweek, Jr. purchased 1,418 shares of the company’s stock in a transaction that occurred on Wednesday, December 12th. The stock was acquired at an average price of $59.90 per share, with a total value of $84,938.20. Following the completion of the purchase, the insider now directly owns 35 shares in the company, valued at $2,096.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cpmg Inc purchased 110,826 shares of the company’s stock in a transaction that occurred on Wednesday, December 12th. The stock was bought at an average cost of $59.41 per share, with a total value of $6,584,172.66. Following the purchase, the director now owns 113 shares of the company’s stock, valued at $6,713.33. The disclosure for this purchase can be found here. In the last three months, insiders have bought 170,522 shares of company stock valued at $10,095,049 and have sold 23,750 shares valued at $1,414,028. 31.69% of the stock is currently owned by company insiders.

RETA opened at $55.04 on Wednesday. Reata Pharmaceuticals Inc has a fifty-two week low of $19.31 and a fifty-two week high of $99.50. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 2.10.

Reata Pharmaceuticals (NASDAQ:RETA) last posted its earnings results on Wednesday, November 7th. The company reported ($1.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.79) by ($0.28). The firm had revenue of $5.18 million during the quarter, compared to the consensus estimate of $9.50 million. As a group, analysts expect that Reata Pharmaceuticals Inc will post -3.08 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Panagora Asset Management Inc. Acquires Shares of 12,443 Reata Pharmaceuticals Inc (RETA)” was first published by Week Herald and is owned by of Week Herald. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://weekherald.com/2018/12/19/panagora-asset-management-inc-acquires-shares-of-12443-reata-pharmaceuticals-inc-reta.html.

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.

See Also: Return on Equity (ROE)

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