24,800 Shares in Reata Pharmaceuticals, Inc. (NASDAQ:RETA) Purchased by Bridger Management LLC

Bridger Management LLC purchased a new position in shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETA) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 24,800 shares of the company’s stock, valued at approximately $2,255,000. Reata Pharmaceuticals accounts for about 0.8% of Bridger Management LLC’s portfolio, making the stock its 21st biggest holding. Bridger Management LLC owned about 0.07% of Reata Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in Reata Pharmaceuticals by 195.2% during the first quarter. Nisa Investment Advisors LLC now owns 741 shares of the company’s stock worth $67,000 after acquiring an additional 490 shares during the period. Suvretta Capital Management LLC acquired a new stake in Reata Pharmaceuticals during the first quarter worth about $1,373,000. HAP Trading LLC acquired a new stake in Reata Pharmaceuticals during the first quarter worth about $938,000. First Light Asset Management LLC grew its stake in Reata Pharmaceuticals by 95.5% during the fourth quarter. First Light Asset Management LLC now owns 2,062,453 shares of the company’s stock worth $78,353,000 after buying an additional 1,007,468 shares in the last quarter. Finally, HighMark Wealth Management LLC grew its stake in Reata Pharmaceuticals by 119.7% during the first quarter. HighMark Wealth Management LLC now owns 21,269 shares of the company’s stock worth $1,934,000 after buying an additional 11,588 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RETA. TD Cowen began coverage on shares of Reata Pharmaceuticals in a research note on Thursday, July 6th. They set an “outperform” rating and a $140.00 price objective on the stock. Stifel Nicolaus downgraded shares of Reata Pharmaceuticals from a “buy” rating to a “hold” rating and increased their price objective for the stock from $110.00 to $172.50 in a research note on Friday, July 28th. Barclays downgraded shares of Reata Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $110.00 to $172.00 in a research note on Tuesday, August 1st. Jefferies Financial Group downgraded shares of Reata Pharmaceuticals from a “buy” rating to a “hold” rating and raised their price target for the company from $104.00 to $172.50 in a research note on Friday, July 28th. Finally, Leerink Partnrs downgraded shares of Reata Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $150.36.

Reata Pharmaceuticals Stock Up 0.4 %

NASDAQ:RETA opened at $170.94 on Tuesday. The firm’s 50 day simple moving average is $146.72 and its 200 day simple moving average is $110.60. The company has a current ratio of 3.21, a quick ratio of 3.19 and a debt-to-equity ratio of 0.84. Reata Pharmaceuticals, Inc. has a one year low of $21.83 and a one year high of $171.12.

Reata Pharmaceuticals (NASDAQ:RETA) last posted its earnings results on Tuesday, August 8th. The company reported ($2.32) EPS for the quarter, topping the consensus estimate of ($2.88) by $0.56. The business had revenue of $22.75 million for the quarter, compared to analyst estimates of $0.85 million. On average, equities analysts anticipate that Reata Pharmaceuticals, Inc. will post -7.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Reata Pharmaceuticals news, CFO Manmeet Singh Soni sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $164.62, for a total transaction of $12,346,500.00. Following the completion of the transaction, the chief financial officer now owns 64,376 shares in the company, valued at approximately $10,597,577.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Reata Pharmaceuticals news, CAO Bhaskar Anand sold 2,343 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $102.11, for a total transaction of $239,243.73. Following the completion of the transaction, the chief accounting officer now owns 24,898 shares in the company, valued at approximately $2,542,334.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Manmeet Singh Soni sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $164.62, for a total transaction of $12,346,500.00. Following the transaction, the chief financial officer now owns 64,376 shares of the company’s stock, valued at approximately $10,597,577.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,578 shares of company stock worth $20,522,248. 26.80% of the stock is currently owned by insiders.

Reata Pharmaceuticals Profile

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.