Recent Insider Activity Suggests Potential Gains for Reata Pharmaceuticals Inc. (RETA)


Reata Pharmaceuticals Inc.’s recently made public that its COO, CFO and President Soni Manmeet Singh unloaded Company’s shares for reported $0.3 million on Aug 16. In the deal valued at $168.41 per share,1,755 shares were sold. As a result of this transaction, Soni Manmeet Singh now holds 62,621 shares worth roughly $ 10.63 million.

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Then, Meyer Colin John sold 596 shares, generating $100,569 in total proceeds. Upon selling the shares at $168.74, the Chief Innovation Officer now owns 81,633 shares.

Before that, WORTLEY MICHAEL D sold 398 shares. Reata Pharmaceuticals Inc. shares valued at $67,167 were divested by the Chief Legal Officer at a price of $168.76 per share. As a result of the transaction, WORTLEY MICHAEL D now holds 49,701 shares, worth roughly $8.44 million.

TD Cowen initiated its Reata Pharmaceuticals Inc. [RETA] rating to an Outperform in a research note published on Tuesday, July 06, 2023; the price target was $140. PT values the company’s stock at a premium of -21.28 to its Tuesday closing price.

Price Performance Review of RETA

On Tuesday, Reata Pharmaceuticals Inc. [NASDAQ:RETA] saw its stock jump 0.31% to $169.79. On the same session, the stock had its day’s lowest price of $168.67, but rose to a high of $169.98. Over the last five days, the stock has gained 0.53%. Reata Pharmaceuticals Inc. shares have risen nearly 346.93% since the year began. Nevertheless, the stocks have risen 566.10% over the past one year. While a 52-week high of $169.75 was reached on 09/05/23, a 52-week low of $21.83 was recorded on 02/27/23. SMA at 50 days reached $139.40, while 200 days put it at $85.67. A total of 0.64 million shares were traded, compared to the trading of 0.37 million shares in the previous session.

Levels Of Support And Resistance For RETA Stock

The 24-hour chart illustrates a support level at 168.98, which if violated will result in even more drops to 168.17. On the upside, there is a resistance level at 170.29. A further resistance level may holdings at 170.79. The Relative Strength Index (RSI) on the 14-day chart is 82.64, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 11.18%. Stochastics %K at 81.05% indicates the stock is a selling.

How much short interest is there in Reata Pharmaceuticals Inc.?

A steep rise in short interest was recorded in Reata Pharmaceuticals Inc. stocks on Aug 14, 2023, growing by 0.37 million shares to a total of 4.2 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.83 million shares. There was a rise of 8.81%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 16.81% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.91.

According to FactSet, Reata Pharmaceuticals Inc.’s share price will average $172.45 in the next year, based on opinions of analysts polled by the firm. This is up nearly 1.91 percent from its previous closing price of $169.26. Analysts expect Reata Pharmaceuticals Inc. stock to reach the higher price of $173.00, while the lowest price estimate is $172.00. However, 10 analysts have rated RETA stock as a Hold in their predictions for 2023.


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