Emerald Mutual Fund Advisers Trust lessened its position in shares of Reata Pharmaceuticals Inc (NASDAQ:RETA) by 26.0% in the first quarter, HoldingsChannel.com reports. The fund owned 359,970 shares of the company’s stock after selling 126,240 shares during the quarter. Reata Pharmaceuticals comprises approximately 1.2% of Emerald Mutual Fund Advisers Trust’s holdings, making the stock its 20th largest position. Emerald Mutual Fund Advisers Trust’s holdings in Reata Pharmaceuticals were worth $30,767,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of RETA. Vanguard Group Inc grew its position in Reata Pharmaceuticals by 75.1% during the third quarter. Vanguard Group Inc now owns 1,187,632 shares of the company’s stock valued at $97,101,000 after acquiring an additional 509,326 shares during the period. Vanguard Group Inc. grew its position in Reata Pharmaceuticals by 75.1% during the third quarter. Vanguard Group Inc. now owns 1,187,632 shares of the company’s stock valued at $97,101,000 after acquiring an additional 509,326 shares during the period. Prosight Management LP grew its position in Reata Pharmaceuticals by 215.6% during the fourth quarter. Prosight Management LP now owns 253,000 shares of the company’s stock valued at $14,193,000 after acquiring an additional 172,845 shares during the period. Sofinnova Investments Inc. purchased a new stake in Reata Pharmaceuticals during the fourth quarter valued at about $8,863,000. Finally, Sphera Funds Management LTD. grew its position in Reata Pharmaceuticals by 138.6% during the fourth quarter. Sphera Funds Management LTD. now owns 221,269 shares of the company’s stock valued at $12,413,000 after acquiring an additional 128,550 shares during the period. 53.63% of the stock is owned by hedge funds and other institutional investors.
Shares of RETA opened at $89.92 on Friday. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -31.33 and a beta of 2.91. Reata Pharmaceuticals Inc has a 12 month low of $29.50 and a 12 month high of $104.53. The company has a debt-to-equity ratio of 5.23, a quick ratio of 6.12 and a current ratio of 6.12.
In related news, insider Elaine Castellanos sold 2,000 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $90.17, for a total value of $180,340.00. Following the transaction, the insider now owns 4,138 shares in the company, valued at $373,123.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jason Douglas Wilson sold 4,000 shares of the business’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $85.44, for a total value of $341,760.00. Following the completion of the transaction, the chief financial officer now owns 4,000 shares in the company, valued at approximately $341,760. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,227 shares of company stock worth $4,093,386. 31.69% of the stock is currently owned by insiders.
RETA has been the subject of a number of research reports. ValuEngine raised Reata Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. BidaskClub raised Reata Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $100.00 price target on shares of Reata Pharmaceuticals in a research report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $100.33.
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Reata Pharmaceuticals 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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