Reata Pharmaceuticals Inc.’s Lock-Up Period Set To End on November 22nd (NASDAQ:RETA)
Reata Pharmaceuticals’ (NASDAQ:RETA) lock-up period is set to end on Tuesday, November 22nd. Reata Pharmaceuticals had issued 5,500,000 shares in its initial public offering on May 26th. The total size of the offering was $60,500,000 based on an initial share price of $11.00. After the end of Reata Pharmaceuticals’ lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
RETA has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Reata Pharmaceuticals from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Saturday, August 27th. Piper Jaffray Cos. set a $33.00 price objective on shares of Reata Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, October 7th.
Shares of Reata Pharmaceuticals (NASDAQ:RETA) opened at 36.11 on Tuesday. The company’s market capitalization is $806.16 million. The company has a 50-day moving average of $25.57 and a 200 day moving average of $21.28. Reata Pharmaceuticals has a 12 month low of $11.03 and a 12 month high of $41.60.
Reata Pharmaceuticals (NASDAQ:RETA) last announced its earnings results on Monday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.10. The company had revenue of $12.55 million for the quarter, compared to the consensus estimate of $12.46 million. Analysts forecast that Reata Pharmaceuticals will post ($0.54) EPS for the current year.
In other Reata Pharmaceuticals news, Director R Kent Mcgaughy, Jr. purchased 308,220 shares of the stock in a transaction on Thursday, August 18th. The shares were purchased at an average price of $17.08 per share, with a total value of $5,264,397.60. Following 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 SEC, which is available at this link. Also, Director Jack Nielsen purchased 1,780 shares of the stock in a transaction on Monday, August 22nd. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $30,260.00. Following the acquisition, the director now directly owns 1,780 shares in the company, valued at $30,260. The disclosure for this purchase can be found here. Corporate insiders own 62.40% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Morgan Stanley raised its stake in shares of Reata Pharmaceuticals by 121.6% in the third quarter. Morgan Stanley now owns 15,610 shares of the company’s stock valued at $411,000 after buying an additional 8,567 shares during the period. Northern Trust Corp raised its stake in shares of Reata Pharmaceuticals by 19.8% in the third quarter. Northern Trust Corp now owns 61,879 shares of the company’s stock valued at $1,632,000 after buying an additional 10,239 shares during the period. California State Teachers Retirement System raised its stake in shares of Reata Pharmaceuticals by 0.8% in the third quarter. California State Teachers Retirement System now owns 12,025 shares of the company’s stock valued at $317,000 after buying an additional 100 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Reata Pharmaceuticals by 77.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 95,109 shares of the company’s stock valued at $2,507,000 after buying an additional 41,480 shares during the period. Finally, University of Texas Investment Managment Co. raised its stake in shares of Reata Pharmaceuticals by 2,367.0% in the third quarter. University of Texas Investment Managment Co. now owns 28,593 shares of the company’s stock valued at $754,000 after buying an additional 27,434 shares during the period. 71.23% of the stock is currently owned by hedge funds and other institutional investors.
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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