Prudential Financial Inc. Makes New Investment in Reata Pharmaceuticals Inc (NASDAQ:RETA)

Prudential Financial Inc. purchased a new position in shares of Reata Pharmaceuticals Inc (NASDAQ:RETA) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,186 shares of the company’s stock, valued at approximately $206,000.

Other large investors have also modified their holdings of the company. Optimum Investment Advisors bought a new stake in Reata Pharmaceuticals during the 2nd quarter worth about $76,000. SG3 Management LLC bought a new stake in Reata Pharmaceuticals during the 1st quarter worth about $128,000. NumerixS Investment Technologies Inc bought a new stake in Reata Pharmaceuticals during the 1st quarter worth about $186,000. Lee Financial Co lifted its position in Reata Pharmaceuticals by 36.0% during the 2nd quarter. Lee Financial Co now owns 2,133 shares of the company’s stock worth $201,000 after buying an additional 565 shares in the last quarter. Finally, Aperio Group LLC bought a new stake in Reata Pharmaceuticals during the 2nd quarter worth about $219,000. 58.47% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Elaine Castellanos sold 2,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $85.00, for a total value of $170,000.00. Following the transaction, the insider now owns 4,138 shares in the company, valued at approximately $351,730. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jason Douglas Wilson sold 4,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $84.64, for a total transaction of $338,560.00. Following the completion of the transaction, the chief financial officer now owns 4,000 shares in the company, valued at approximately $338,560. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,000 shares of company stock worth $799,280. 34.40% of the stock is owned by insiders.



Several brokerages have commented on RETA. Zacks Investment Research cut shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, July 11th. BidaskClub raised shares of Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, September 7th. Finally, Citigroup upped their target price on shares of Reata Pharmaceuticals from $190.00 to $194.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $141.50.

Shares of RETA stock traded down $3.25 on Wednesday, reaching $90.47. The stock had a trading volume of 8,829 shares, compared to its average volume of 254,267. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 5.23. The firm’s 50-day moving average is $81.44 and its two-hundred day moving average is $86.14. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of -31.55 and a beta of 2.41. Reata Pharmaceuticals Inc has a 12 month low of $47.50 and a 12 month high of $104.53.

Reata Pharmaceuticals (NASDAQ:RETA) last issued its earnings results on Thursday, August 8th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.12) by ($0.02). The firm had revenue of $7.83 million during the quarter, compared to the consensus estimate of $7.76 million. Reata Pharmaceuticals had a negative net margin of 410.38% and a negative return on equity of 3,282.73%. On average, sell-side analysts forecast that Reata Pharmaceuticals Inc will post -4.56 earnings per share for the current fiscal year.

Reata Pharmaceuticals Company Profile

Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl (Bard) for the treatment of patients with chronic kidney disease caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; and omaveloxolone that is Phase II clinical trial for the treatment of patients with Friedreich's ataxia It is also developing RTA 901, which completed Phase 1 clinical trials for the treatment of orphan neurological indications; and RORgT Inhibitors that are in the preclinical development phase for the potential treatment of a range of autoimmune, inflammatory, and fibrotic diseases.

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

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