Traders Buy High Volume of Reata Pharmaceuticals Call Options (NASDAQ:RETA)

Reata Pharmaceuticals Inc (NASDAQ:RETA) saw unusually large options trading activity on Thursday. Stock traders acquired 1,300 call options on the stock. This represents an increase of 1,071% compared to the average volume of 111 call options.

Several research firms have recently weighed in on RETA. Citigroup restated a “buy” rating on shares of Reata Pharmaceuticals in a research note on Thursday, September 26th. National Securities assumed coverage on shares of Reata Pharmaceuticals in a research note on Thursday, September 26th. They issued a “buy” rating and a $130.00 price target on the stock. ValuEngine lowered shares of Reata Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research lowered shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, July 11th. Finally, BidaskClub upgraded shares of Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $141.33.

In other news, CFO Jason Douglas Wilson sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $72.68, for a total transaction of $290,720.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Elaine Castellanos sold 2,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $85.00, for a total transaction of $170,000.00. Following the transaction, the insider now owns 4,138 shares in the company, valued at $351,730. The disclosure for this sale can be found here. Insiders have sold a total of 73,000 shares of company stock worth $6,255,710 over the last 90 days. 34.40% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in RETA. Resources Investment Advisors LLC. acquired a new position in Reata Pharmaceuticals in the 2nd quarter valued at about $25,000. Meadow Creek Investment Management LLC grew its position in shares of Reata Pharmaceuticals by 71.4% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 336 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Glen Harbor Capital Management LLC grew its position in shares of Reata Pharmaceuticals by 71.4% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 408 shares of the company’s stock worth $39,000 after purchasing an additional 170 shares in the last quarter. Optimum Investment Advisors acquired a new position in shares of Reata Pharmaceuticals during the 2nd quarter worth approximately $76,000. Finally, SG3 Management LLC acquired a new position in shares of Reata Pharmaceuticals during the 1st quarter worth approximately $128,000. Institutional investors and hedge funds own 58.47% of the company’s stock.

Shares of RETA opened at $95.81 on Friday. Reata Pharmaceuticals has a 52 week low of $47.50 and a 52 week high of $104.53. The firm’s 50-day simple moving average is $82.90 and its 200 day simple moving average is $85.25.

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