Sigma Planning Corp Reduces Stock Position in Reata Pharmaceuticals, Inc. (NASDAQ:RETA)

Posted by Defense World Staff on Aug 12th, 2023

Sigma Planning Corp decreased its position in Reata Pharmaceuticals, Inc. (NASDAQ:RETA – Free Report) by 32.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,320 shares of the company’s stock after selling 2,975 shares during the quarter. Sigma Planning Corp’s holdings in Reata Pharmaceuticals were worth $575,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in RETA. JPMorgan Chase & Co. grew its position in shares of Reata Pharmaceuticals by 18.5% in the 1st quarter. JPMorgan Chase & Co. now owns 28,162 shares of the company’s stock worth $923,000 after acquiring an additional 4,398 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Reata Pharmaceuticals by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 120,675 shares of the company’s stock worth $3,953,000 after acquiring an additional 1,927 shares in the last quarter. US Bancorp DE grew its position in shares of Reata Pharmaceuticals by 930.5% in the 1st quarter. US Bancorp DE now owns 1,824 shares of the company’s stock worth $60,000 after acquiring an additional 1,647 shares in the last quarter. MetLife Investment Management LLC boosted its position in Reata Pharmaceuticals by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 15,591 shares of the company’s stock valued at $511,000 after purchasing an additional 5,754 shares during the period. Finally, Vanguard Group Inc. boosted its position in Reata Pharmaceuticals by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 2,643,082 shares of the company’s stock valued at $86,587,000 after purchasing an additional 85,409 shares during the period. Institutional investors and hedge funds own 73.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RETA. Citigroup lowered Reata Pharmaceuticals from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $127.00 to $172.50 in a research report on Tuesday, August 1st. StockNews.com began coverage on Reata Pharmaceuticals in a research report on Monday, August 7th. They set a “sell” rating for the company. TD Cowen began coverage on Reata Pharmaceuticals in a research report on Thursday, July 6th. They set an “outperform” rating and a $140.00 price objective for the company. SVB Securities lowered Reata Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Friday, July 28th. Finally, SVB Leerink upgraded Reata Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Monday, June 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Reata Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $147.91.

Read Our Latest Research Report on RETA

Reata Pharmaceuticals Stock Performance

RETA opened at $167.48 on Friday. Reata Pharmaceuticals, Inc. has a one year low of $18.47 and a one year high of $168.70. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.21 and a quick ratio of 6.09. The stock’s fifty day moving average is $114.52 and its 200-day moving average is $90.72.

Reata Pharmaceuticals (NASDAQ:RETA – Get Free Report) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($3.14) EPS for the quarter, missing analysts’ consensus estimates of ($2.34) by ($0.80). The firm had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.73 million. On average, equities research analysts forecast that Reata Pharmaceuticals, Inc. will post -10.84 EPS for the current year.

Insider Transactions at Reata Pharmaceuticals

In other news, CFO Manmeet Singh Soni sold 78,085 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $102.89, for a total value of $8,034,165.65. Following the sale, the chief financial officer now owns 58,376 shares of the company’s stock, valued at approximately $6,006,306.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Manmeet Singh Soni sold 78,085 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $102.89, for a total transaction of $8,034,165.65. Following the sale, the chief financial officer now directly owns 58,376 shares of the company’s stock, valued at $6,006,306.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dawn Carter Bir sold 40,000 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $164.54, for a total value of $6,581,600.00. Following the sale, the insider now directly owns 35,010 shares in the company, valued at $5,760,545.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 226,167 shares of company stock valued at $30,459,591. Corporate insiders own 26.80% of the company’s stock.

Reata Pharmaceuticals Company Profile

(Free Report)

Reata Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, identifies, develops, and commercializes novel therapeutics for patients with serious or life-threatening diseases. The company is developing Phase 3 clinical trial programs, including bardoxolone methyl (bardoxolone) for the treatment of patients with chronic kidney disease (CKD) caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; omaveloxolone to treat Friedreich's ataxia; and conduct various form of CKD, such as, type 1 and type 2 diabetic CKD, type 1 and type 2 diabetic CKD, hypertensive CKD, focal segmental glomerulosclerosis, and others.