Traders Purchase High Volume of Reata Pharmaceuticals Put Options (NASDAQ:RETA)


Reata Pharmaceuticals, Inc. (NASDAQ:RETA) was the target of some unusual options trading activity on Tuesday. Investors acquired 1,087 put options on the company. This represents an increase of 1,841% compared to the typical daily volume of 56 put options.

A number of research firms have issued reports on RETA. Barclays initiated coverage on Reata Pharmaceuticals in a report on Monday, April 26th. They set an “overweight” rating and a $155.00 target price for the company. The Goldman Sachs Group assumed coverage on Reata Pharmaceuticals in a research report on Monday, May 24th. They issued a “buy” rating and a $236.00 target price on the stock. Citigroup upped their price target on Reata Pharmaceuticals from $234.00 to $244.00 and gave the stock a “buy” rating in a research report on Thursday, May 20th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on shares of Reata Pharmaceuticals from $234.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, May 20th. Five equities research analysts have rated the stock with a buy rating, Reata Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $222.57.

In related news, insider Colin John Meyer sold 20,000 shares of the stock in a transaction that occurred on Monday, June 14th. The stock was sold at an average price of $144.05, for a total transaction of $2,881,000.00. Following the completion of the sale, the insider now directly owns 77,000 shares of the company’s stock, valued at approximately $11,091,850. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Elaine Castellanos sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 26th. The stock was sold at an average price of $124.55, for a total transaction of $1,245,500.00. Following the sale, the chief accounting officer now owns 24,546 shares in the company, valued at $3,057,204.30. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock worth $5,552,998 over the last quarter. 28.00% of the stock is currently owned by corporate insiders.

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Several institutional investors have recently added to or reduced their stakes in RETA. Bank of Montreal Can lifted its stake in Reata Pharmaceuticals by 79.9% in the 1st quarter. Bank of Montreal Can now owns 545 shares of the company’s stock valued at $51,000 after purchasing an additional 242 shares during the last quarter. First Mercantile Trust Co. lifted its position in shares of Reata Pharmaceuticals by 40.4% in the first quarter. First Mercantile Trust Co. now owns 660 shares of the company’s stock valued at $66,000 after buying an additional 190 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Reata Pharmaceuticals in the fourth quarter valued at approximately $82,000. Panagora Asset Management Inc. acquired a new position in shares of Reata Pharmaceuticals during the 1st quarter worth approximately $96,000. Finally, Allred Capital Management LLC acquired a new position in shares of Reata Pharmaceuticals during the 1st quarter worth approximately $110,000. Institutional investors own 69.02% of the company’s stock.

Shares of NASDAQ RETA opened at $140.33 on Wednesday. The company’s 50 day moving average is $112.58. The firm has a market capitalization of $5.09 billion, a PE ratio of -18.15 and a beta of 1.48. Reata Pharmaceuticals has a 52 week low of $76.34 and a 52 week high of $186.82.

Reata Pharmaceuticals (NASDAQ:RETA) last released its quarterly earnings data on Thursday, May 6th. The company reported ($1.86) EPS for the quarter, beating the consensus estimate of ($2.18) by $0.32. The company had revenue of $0.94 million during the quarter, compared to the consensus estimate of $1.43 million. Reata Pharmaceuticals had a negative return on equity of 88.44% and a negative net margin of 3,092.54%. The firm’s revenue for the quarter was down 30.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.89) EPS. On average, equities analysts forecast that Reata Pharmaceuticals will post -8.26 earnings per share for the current year.

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 (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 II 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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