Deutsche Bank AG Purchases 472,726 Shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETA)

Posted by Defense World Staff on Jun 11th, 2023

Deutsche Bank AG increased its position in Reata Pharmaceuticals, Inc. (NASDAQ:RETA – Get Rating) by 46.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,492,238 shares of the company’s stock after buying an additional 472,726 shares during the quarter. Deutsche Bank AG owned 4.07% of Reata Pharmaceuticals worth $56,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. AXA S.A. purchased a new position in shares of Reata Pharmaceuticals in the third quarter worth about $317,000. Emerald Advisers LLC increased its stake in Reata Pharmaceuticals by 26.3% in the 4th quarter. Emerald Advisers LLC now owns 679,772 shares of the company’s stock worth $25,825,000 after purchasing an additional 141,520 shares during the period. Endurant Capital Management LP bought a new stake in Reata Pharmaceuticals in the third quarter valued at approximately $612,000. HighMark Wealth Management LLC purchased a new stake in shares of Reata Pharmaceuticals during the fourth quarter valued at approximately $368,000. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in shares of Reata Pharmaceuticals by 19.5% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 526,445 shares of the company’s stock worth $20,000,000 after purchasing an additional 85,727 shares during the last quarter. Hedge funds and other institutional investors own 76.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RETA. Cantor Fitzgerald cut their price target on shares of Reata Pharmaceuticals from $138.00 to $110.00 in a report on Wednesday, May 10th. LADENBURG THALM/SH SH upped their price target on Reata Pharmaceuticals from $91.00 to $104.00 in a research report on Thursday, May 11th. Robert W. Baird boosted their target price on Reata Pharmaceuticals from $40.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, March 1st. Stifel Nicolaus raised their price target on Reata Pharmaceuticals from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, April 13th. Finally, Citigroup boosted their price objective on shares of Reata Pharmaceuticals from $53.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.89.

Insider Buying and Selling

In other Reata Pharmaceuticals news, insider Michael D. Wortley sold 894 shares of Reata Pharmaceuticals stock in a transaction on Monday, May 15th. The stock was sold at an average price of $84.81, for a total transaction of $75,820.14. Following the completion of the transaction, the insider now owns 47,198 shares in the company, valued at $4,002,862.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Andrea Loewen sold 6,750 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $86.26, for a total value of $582,255.00. Following the transaction, the senior vice president now owns 32,007 shares in the company, valued at $2,760,923.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael D. Wortley sold 894 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $84.81, for a total transaction of $75,820.14. Following the sale, the insider now directly owns 47,198 shares of the company’s stock, valued at approximately $4,002,862.38. The disclosure for this sale can be found here. Insiders have sold 29,254 shares of company stock worth $2,485,432 in the last 90 days. Insiders own 26.80% of the company’s stock.

Reata Pharmaceuticals Trading Down 0.3 %

RETA opened at $93.80 on Friday. Reata Pharmaceuticals, Inc. has a 12-month low of $18.47 and a 12-month high of $106.69. The stock has a fifty day simple moving average of $93.94 and a two-hundred day simple moving average of $66.38.

Reata Pharmaceuticals (NASDAQ:RETA – Get Rating) last announced its quarterly earnings data on Wednesday, May 10th. The company reported ($3.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.34) by ($0.80). Reata Pharmaceuticals had a negative return on equity of 922.50% and a negative net margin of 9,897.91%. The business had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.73 million. Research analysts forecast that Reata Pharmaceuticals, Inc. will post -10.66 earnings per share for the current fiscal year.

Reata Pharmaceuticals Profile

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Reata Pharmaceuticals, Inc is a clinical stage biopharmaceutical company, which engages in identifying, developing, and commercializing pharmaceutical products. Its product candidates are bardoxolone methyl and omaveloxolone, which activate the transcription factor Nrf2 to restore mitochondrial function, reduce oxidative stress, and resolve inflammation.