Reata Pharmaceuticals Inc (RETA) Short Interest Up 45.8% in August
Reata Pharmaceuticals Inc (NASDAQ:RETA) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,212,610 shares, an increase of 45.8% from the August 15th total of 831,661 shares. Based on an average trading volume of 83,583 shares, the days-to-cover ratio is currently 14.5 days. Currently, 25.1% of the shares of the stock are sold short.
Shares of Reata Pharmaceuticals (NASDAQ:RETA) opened at 25.91 on Friday. Reata Pharmaceuticals has a 12 month low of $11.03 and a 12 month high of $32.22. The firm’s market capitalization is $578.44 million. The company has a 50-day moving average price of $20.88 and a 200-day moving average price of $19.40.
Reata Pharmaceuticals (NASDAQ:RETA) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The firm earned $12.40 million during the quarter. Equities analysts forecast that Reata Pharmaceuticals will post ($0.54) EPS for the current fiscal year.
A number of research analysts recently issued reports on the company. Zacks Investment Research cut Reata Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. Citigroup Inc. assumed coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They issued a “buy” rating and a $32.00 price target for the company. Cowen and Company assumed coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They issued an “outperform” rating and a $22.00 price target for the company. Finally, Piper Jaffray Cos. assumed coverage on Reata Pharmaceuticals in a report on Monday, June 20th. They issued an “overweight” rating and a $33.00 price target for the company.
In other Reata Pharmaceuticals news, Director R Kent Mcgaughy, Jr. purchased 308,220 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was acquired at an average cost of $17.08 per share, with a total value of $5,264,397.60. Following the completion of the acquisition, the director now directly owns 25,004 shares of the company’s stock, valued at approximately $427,068.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cpmg Inc purchased 73,403 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The stock was acquired at an average cost of $19.26 per share, with a total value of $1,413,741.78. Following the completion of the acquisition, the director now directly owns 113 shares of the company’s stock, valued at $2,176.38. The disclosure for this purchase can be found here.
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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