Short Interest in Reata Pharmaceuticals Inc (NASDAQ:RETA) Declines By 6.0%

Reata Pharmaceuticals Inc (NASDAQ:RETA) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 3,150,000 shares, a drop of 6.0% from the September 30th total of 3,350,000 shares. Currently, 13.7% of the company’s stock are sold short. Based on an average daily volume of 442,600 shares, the days-to-cover ratio is presently 7.1 days.

NASDAQ:RETA traded up $9.53 during mid-day trading on Monday, reaching $208.44. The stock had a trading volume of 794,836 shares, compared to its average volume of 319,852. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of -72.63 and a beta of 2.75. Reata Pharmaceuticals has a 1-year low of $47.50 and a 1-year high of $217.47. The stock’s 50 day simple moving average is $152.87 and its two-hundred day simple moving average is $102.51.

Reata Pharmaceuticals (NASDAQ:RETA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.25) by ($0.07). Reata Pharmaceuticals had a negative return on equity of 3,282.73% and a negative net margin of 398.84%. The firm had revenue of $8.24 million during the quarter, compared to analyst estimates of $7.43 million. During the same quarter last year, the business posted ($1.07) earnings per share. The firm’s revenue for the quarter was up 59.1% on a year-over-year basis. As a group, analysts predict that Reata Pharmaceuticals will post -5.35 EPS for the current fiscal year.

Several brokerages have recently weighed in on RETA. Zacks Investment Research downgraded Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. LADENBURG THALM/SH SH restated a “positive” rating and set a $239.00 target price (up from $133.00) on shares of Reata Pharmaceuticals in a research note on Wednesday, October 16th. Leerink Swann set a $230.00 target price on Reata Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, October 15th. Citigroup lifted their price target on Reata Pharmaceuticals from $241.00 to $328.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $305.00 price target (up from $210.00) on shares of Reata Pharmaceuticals in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $247.63.

In other news, insider Elaine Castellanos sold 2,000 shares of the firm’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 completion of the sale, the insider now directly owns 4,138 shares in the company, valued at $351,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jason Douglas Wilson sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $100.00, for a total value of $1,500,000.00. Following the sale, the vice president now owns 22,350 shares of the company’s stock, valued at $2,235,000. The disclosure for this sale can be found here. Insiders sold 101,000 shares of company stock worth $10,661,430 over the last three months. 34.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Meadow Creek Investment Management LLC boosted its stake in Reata Pharmaceuticals by 71.4% in the second quarter. Meadow Creek Investment Management LLC now owns 336 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the period. Glen Harbor Capital Management LLC boosted its stake in Reata Pharmaceuticals by 71.4% in the second quarter. Glen Harbor Capital Management LLC now owns 408 shares of the company’s stock valued at $39,000 after acquiring an additional 170 shares during the period. Invesco Ltd. boosted its stake in Reata Pharmaceuticals by 1.0% in the second quarter. Invesco Ltd. now owns 18,750 shares of the company’s stock valued at $1,769,000 after acquiring an additional 192 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Reata Pharmaceuticals by 25.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,240 shares of the company’s stock valued at $100,000 after acquiring an additional 249 shares during the period. Finally, M&T Bank Corp boosted its stake in Reata Pharmaceuticals by 7.7% in the second quarter. M&T Bank Corp now owns 3,509 shares of the company’s stock valued at $331,000 after acquiring an additional 250 shares during the period. Institutional investors own 58.96% of the company’s stock.

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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