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

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Reata Pharmaceuticals Inc (NASDAQ:RETA) was the recipient of some unusual options trading activity on Thursday. Stock traders purchased 1,300 call options on the stock. This is an increase of approximately 1,071% compared to the average daily volume of 111 call options.

Several equities analysts have recently issued reports on the stock. Citigroup reaffirmed a “buy” rating on shares of Reata Pharmaceuticals in a research note on Thursday, September 26th. Zacks Investment Research downgraded shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, July 11th. BidaskClub raised shares of Reata Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday. ValuEngine downgraded shares of Reata Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Finally, National Securities assumed coverage on shares of Reata Pharmaceuticals in a research note on Thursday, September 26th. They set a “buy” rating and a $130.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $141.33.

RETA opened at $95.81 on Friday. Reata Pharmaceuticals has a twelve month low of $47.50 and a twelve month high of $104.53. The company has a fifty day moving average of $82.90 and a 200-day moving average of $85.25.

Reata Pharmaceuticals (NASDAQ:RETA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.12) by ($0.02). Reata Pharmaceuticals had a negative return on equity of 3,282.73% and a negative net margin of 410.38%. The firm had revenue of $7.83 million for the quarter, compared to analyst estimates of $7.76 million. As a group, research analysts anticipate that Reata Pharmaceuticals will post -4.56 earnings per share for the current fiscal year.

In other news, insider Elaine Castellanos sold 2,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $85.00, for a total transaction of $170,000.00. Following the completion of the transaction, the insider now owns 4,138 shares of the company’s stock, valued at $351,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Warren Huff sold 63,000 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $86.61, for a total transaction of $5,456,430.00. Following the transaction, the chief executive officer now directly owns 164,157 shares of the company’s stock, valued at approximately $14,217,637.77. The disclosure for this sale can be found here. Insiders have sold 73,000 shares of company stock valued at $6,255,710 in the last ninety days. Insiders own 34.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp acquired a new stake in shares of Reata Pharmaceuticals during the second quarter worth $693,000. Eaton Vance Management acquired a new stake in shares of Reata Pharmaceuticals during the second quarter worth $1,033,000. Amundi Pioneer Asset Management Inc. increased its position in shares of Reata Pharmaceuticals by 37.1% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 183,919 shares of the company’s stock worth $17,353,000 after buying an additional 49,814 shares during the period. Nuveen Asset Management LLC increased its position in shares of Reata Pharmaceuticals by 2,708.5% during the second quarter. Nuveen Asset Management LLC now owns 135,312 shares of the company’s stock worth $12,767,000 after buying an additional 130,494 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Reata Pharmaceuticals by 55.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 650,391 shares of the company’s stock worth $61,364,000 after buying an additional 231,369 shares during the period. Institutional investors own 58.47% of the company’s stock.

About Reata Pharmaceuticals

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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