Schwab Charles Investment Management Inc. continued to hold its stake in Reata Pharmaceuticals, Inc. (NASDAQ:RETA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,800 shares of the company’s stock at the close of the first quarter. Schwab Charles Investment Management Inc. owned approximately 0.08% of Reata Pharmaceuticals worth $426,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Teachers Advisors LLC raised its stake in shares of Reata Pharmaceuticals by 12.8% during the 4th quarter. Teachers Advisors LLC now owns 10,116 shares of the company’s stock valued at $221,000 after buying an additional 1,148 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Reata Pharmaceuticals in the 1st quarter valued at about $829,000. Bank of New York Mellon Corp increased its stake in shares of Reata Pharmaceuticals by 18.1% in the 1st quarter. Bank of New York Mellon Corp now owns 22,213 shares of the company’s stock valued at $503,000 after purchasing an additional 3,407 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Reata Pharmaceuticals in the 1st quarter valued at about $483,000. Finally, Atlantic Trust Group LLC purchased a new position in shares of Reata Pharmaceuticals in the 1st quarter valued at about $285,000. Institutional investors and hedge funds own 15.56% of the company’s stock.
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RETA has been the subject of several recent analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price target (up previously from $38.00) on shares of Reata Pharmaceuticals in a research note on Tuesday, July 25th. Citigroup Inc. reiterated a “buy” rating and issued a $87.00 price objective (up from $39.00) on shares of Reata Pharmaceuticals in a report on Tuesday, July 25th. Piper Jaffray Companies lifted their price objective on Reata Pharmaceuticals from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Robert W. Baird restated a “buy” rating and set a $47.00 target price on shares of Reata Pharmaceuticals in a report on Friday, September 1st. Finally, Jefferies Group LLC began coverage on Reata Pharmaceuticals in a report on Wednesday, August 30th. They set a “buy” rating and a $44.00 target price on the stock. Two investment analysts have rated the stock with a sell rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $51.63.
Shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETA) opened at 31.75 on Friday. Reata Pharmaceuticals, Inc. has a 52-week low of $18.51 and a 52-week high of $41.60. The stock’s market cap is $828.77 million. The stock’s 50 day moving average price is $28.66 and its 200-day moving average price is $26.95.
In other news, Director James Edward Bass acquired 8,064 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average cost of $31.00 per share, with a total value of $249,984.00. Following the acquisition, the director now owns 67,411 shares in the company, valued at $2,089,741. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 62.40% of the stock is currently owned by corporate insiders.
Reata Pharmaceuticals Company Profile
Reata Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on identifying, developing and commercializing product candidates that modulate the activity of regulatory proteins involved in the biology of mitochondrial function, oxidative stress, and inflammation to address the unmet medical needs of patients with a range of serious or life-threatening diseases.
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