Should You Add Reata Pharmaceuticals (RETA) to Your Portfolio?
TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” second-quarter investor letter. A copy of the same can be downloaded here. In the second quarter, the strategy underperformed the Russell 2000 Growth Index and returned 2.50% (net), and the index return was 7.05%. Consumer Staples, Health Care, Industrials, and Information Technology showed relative weakness. However, Communication Services and Materials showed strength, partially offsetting the weakness. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare U.S. Small Cap Growth Strategy highlighted stocks like Reata Pharmaceuticals, Inc. (NASDAQ:RETA) in the second quarter 2023 investor letter. Headquartered in Plano, Texas, Reata Pharmaceuticals, Inc. (NASDAQ:RETA) is a clinical-stage biopharmaceutical company. On September 22, 2023, Reata Pharmaceuticals, Inc. (NASDAQ:RETA) stock closed at $172.32 per share. One-month return of Reata Pharmaceuticals, Inc. (NASDAQ:RETA) was 2.02%, and its shares gained 650.20% of their value over the last 52 weeks. Reata Pharmaceuticals, Inc. (NASDAQ:RETA) has a market capitalization of $6.565 billion.
TimesSquare U.S. Small Cap Growth Strategy made the following comment about Reata Pharmaceuticals, Inc. (NASDAQ:RETA) in its Q2 2023 investor letter:
"New to the portfolio this quarter is Reata Pharmaceuticals, Inc. (NASDAQ:RETA), a biotechnology company focused on developing therapies for rare genetic diseases. Their primary asset is Skyclarys, a novel therapy that was recently approved for treating Friedreich’s ataxia, a progressive and typically terminal neuromuscular disease."
A biomedical scientist in a lab coat conducting research on biopharmaceutical compounds. Editorial photo for a financial news article. 8k. --ar 16:9
Reata Pharmaceuticals, Inc. (NASDAQ:RETA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Reata Pharmaceuticals, Inc. (NASDAQ:RETA) at the end of second quarter which was 31 in the previous quarter.
We discussed Reata Pharmaceuticals, Inc. (NASDAQ:RETA) in another article and shared the list of best-performing stocks in the last 12 months. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
