Verition Fund Management LLC Takes Position in Reata Pharmaceuticals, Inc. (NASDAQ:RETA)

Verition Fund Management LLC acquired a new stake in shares of Reata Pharmaceuticals, Inc. (NASDAQ:RETAGet Rating) during the first quarter, HoldingsChannel reports. The firm acquired 83,158 shares of the company’s stock, valued at approximately $2,724,000.

Other institutional investors and hedge funds have also modified their holdings of the company. DekaBank Deutsche Girozentrale grew its position in Reata Pharmaceuticals by 9.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 16,640 shares of the company’s stock valued at $514,000 after acquiring an additional 1,500 shares during the period. Engineers Gate Manager LP grew its position in Reata Pharmaceuticals by 6.4% in the first quarter. Engineers Gate Manager LP now owns 26,724 shares of the company’s stock valued at $875,000 after acquiring an additional 1,596 shares during the period. US Bancorp DE grew its position in Reata Pharmaceuticals by 930.5% in the first quarter. US Bancorp DE now owns 1,824 shares of the company’s stock valued at $60,000 after acquiring an additional 1,647 shares during the period. Bank of New York Mellon Corp grew its position in Reata Pharmaceuticals by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 120,675 shares of the company’s stock valued at $3,953,000 after acquiring an additional 1,927 shares during the period. Finally, Virtus ETF Advisers LLC grew its position in Reata Pharmaceuticals by 282.5% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,684 shares of the company’s stock valued at $150,000 after acquiring an additional 4,198 shares during the period. 76.00% of the stock is currently owned by institutional investors.

Reata Pharmaceuticals Stock Down 4.3 %

Shares of RETA opened at $27.50 on Friday. Reata Pharmaceuticals, Inc. has a 12-month low of $18.47 and a 12-month high of $114.80. The firm has a market capitalization of $1.00 billion, a PE ratio of -3.29 and a beta of 1.16. The stock’s fifty day simple moving average is $27.51 and its 200-day simple moving average is $29.93.

Reata Pharmaceuticals (NASDAQ:RETAGet Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported ($2.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.90) by ($0.12). Reata Pharmaceuticals had a negative net margin of 3,045.98% and a negative return on equity of 190.87%. The firm had revenue of $0.76 million for the quarter, compared to analyst estimates of $1.46 million. During the same period last year, the company earned ($2.00) EPS. The company’s revenue was down 65.7% compared to the same quarter last year. Analysts anticipate that Reata Pharmaceuticals, Inc. will post -8.37 EPS for the current year.

Wall Street Analysts Forecast Growth

RETA has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their price target on Reata Pharmaceuticals from $93.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday, May 24th. Citigroup boosted their price objective on Reata Pharmaceuticals from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, May 27th. Finally, Robert W. Baird reduced their price objective on Reata Pharmaceuticals from $37.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $57.57.

Reata Pharmaceuticals Profile

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Reata Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, identifies, develops, and commercializes novel therapeutics for patients with serious or life-threatening diseases. The company is developing Phase 3 clinical trial programs, including bardoxolone methyl (bardoxolone) for the treatment of patients with chronic kidney disease (CKD) caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; omaveloxolone that is Phase II clinical trial to treat Friedreich's ataxia; and conduct Phase 2 study for various form of CKD, such as IgA nephropathy, type 1 and type 2 diabetic CKD, hypertensive CKD, focal segmental glomerulosclerosis, and others.

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Institutional Ownership by Quarter for Reata Pharmaceuticals (NASDAQ:RETA)

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