CymaBay Therapeutics (NASDAQ:CBAY) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a research note issued to investors on Friday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently issued reports on CBAY. UBS Group reiterated a neutral rating and set a $32.50 price objective (up from $25.00) on shares of CymaBay Therapeutics in a report on Wednesday, February 14th. Raymond James cut shares of CymaBay Therapeutics from an outperform rating to a market perform rating and set a $32.50 price target on the stock. in a research report on Tuesday, February 13th. William Blair lowered CymaBay Therapeutics from an outperform rating to a market perform rating in a report on Monday, February 12th. HC Wainwright reissued a neutral rating and issued a $32.50 price objective on shares of CymaBay Therapeutics in a research note on Thursday, February 29th. Finally, Piper Sandler reaffirmed a neutral rating and set a $32.50 target price (down previously from $33.00) on shares of CymaBay Therapeutics in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $28.65.

CymaBay Therapeutics Stock Performance

Shares of NASDAQ:CBAY opened at $32.48 on Friday. CymaBay Therapeutics has a 52-week low of $7.26 and a 52-week high of $32.50. The business’s 50 day simple moving average is $32.37 and its two-hundred day simple moving average is $24.31. The firm has a market cap of $3.73 billion, a P/E ratio of -33.48 and a beta of 0.32.

CymaBay Therapeutics (NASDAQ:CBAY) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The company had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.42 million. On average, equities analysts forecast that CymaBay Therapeutics will post -1.38 earnings per share for the current fiscal year.

Insider Activity

In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $31.97, for a total value of $191,820.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.00% of the stock is currently owned by corporate insiders.

Institutional Trading of CymaBay Therapeutics

Several hedge funds have recently added to or reduced their stakes in CBAY. New York State Common Retirement Fund increased its holdings in CymaBay Therapeutics by 39.9% in the 3rd quarter. New York State Common Retirement Fund now owns 64,404 shares of the biopharmaceutical company’s stock worth $960,000 after acquiring an additional 18,381 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of CymaBay Therapeutics in the fourth quarter valued at approximately $17,629,000. Vanguard Group Inc. raised its position in shares of CymaBay Therapeutics by 11.6% in the third quarter. Vanguard Group Inc. now owns 5,747,587 shares of the biopharmaceutical company’s stock valued at $85,697,000 after purchasing an additional 598,707 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of CymaBay Therapeutics during the 3rd quarter valued at approximately $12,073,000. Finally, Emerald Advisers LLC bought a new position in CymaBay Therapeutics in the 3rd quarter worth approximately $14,668,000. Institutional investors own 95.03% of the company’s stock.

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).