CymaBay Therapeutics, Inc. (NASDAQ:CBAY) Receives Average Recommendation of “Hold” from Analysts

Shares of CymaBay Therapeutics, Inc. (NASDAQ:CBAY) have been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $28.65.

A number of research firms recently weighed in on CBAY. Jonestrading reaffirmed a “hold” rating on shares of CymaBay Therapeutics in a research note on Tuesday, February 13th. StockNews.com began coverage on shares of CymaBay Therapeutics in a research note on Thursday, April 11th. They issued a “sell” rating for the company. Raymond James lowered shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating and set a $32.50 price objective for the company. in a research note on Tuesday, February 13th. William Blair lowered shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Finally, Lifesci Capital lowered shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th.

Insider Activity

In other news, insider Charles Mcwherter sold 18,403 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $23.67, for a total transaction of $435,599.01. Following the transaction, the insider now owns 15,000 shares in the company, valued at $355,050. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Charles Mcwherter sold 18,403 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $23.67, for a total transaction of $435,599.01. Following the transaction, the insider now owns 15,000 shares in the company, valued at $355,050. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Janet Dorling sold 6,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $31.97, for a total transaction of $191,820.00. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On CymaBay Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Avoro Capital Advisors LLC increased its holdings in CymaBay Therapeutics by 7.9% in the 4th quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biopharmaceutical company’s stock worth $262,444,000 after buying an additional 811,111 shares during the period. BlackRock Inc. increased its holdings in CymaBay Therapeutics by 183.2% in the 2nd quarter. BlackRock Inc. now owns 7,504,670 shares of the biopharmaceutical company’s stock worth $82,176,000 after buying an additional 4,854,593 shares during the period. RA Capital Management L.P. acquired a new position in CymaBay Therapeutics in the 3rd quarter worth approximately $103,475,000. Vanguard Group Inc. increased its holdings in CymaBay Therapeutics by 9.7% in the 4th quarter. Vanguard Group Inc. now owns 6,306,149 shares of the biopharmaceutical company’s stock worth $148,951,000 after buying an additional 558,562 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in CymaBay Therapeutics by 134.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,465,161 shares of the biopharmaceutical company’s stock worth $105,468,000 after buying an additional 2,561,460 shares during the period. Institutional investors and hedge funds own 95.03% of the company’s stock.

CymaBay Therapeutics Stock Performance

Shares of CBAY opened at $32.48 on Thursday. The firm has a market capitalization of $3.73 billion, a P/E ratio of -33.48 and a beta of 0.32. CymaBay Therapeutics has a 12-month low of $7.26 and a 12-month high of $32.50. The firm has a fifty day moving average price of $32.09 and a 200-day moving average price of $23.99.

CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The company had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.42 million. Analysts predict that CymaBay Therapeutics will post -1.38 earnings per share for the current year.

About CymaBay Therapeutics

CymaBay Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and providing therapies to treat liver and other chronic diseases. Its lead product candidate is seladelpar (MBX-8025), a selective agonist of peroxisome proliferator activated receptor delta for the treatments of primary biliary cholangitis (PBC).