CymaBay Therapeutics (NASDAQ:CBAY) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a report released on Monday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Several other brokerages have also issued reports on CBAY. Piper Sandler reiterated a neutral rating and issued a $32.50 price target (down from $33.00) on shares of CymaBay Therapeutics in a research note on Wednesday, February 14th. B. Riley restated a neutral rating and set a $32.50 price objective (up from $29.00) on shares of CymaBay Therapeutics in a research note on Tuesday, February 13th. SVB Leerink restated a market perform rating and set a $32.50 price objective on shares of CymaBay Therapeutics in a research note on Tuesday, February 20th. Lifesci Capital lowered shares of CymaBay Therapeutics from an outperform rating to a market perform rating in a research note on Wednesday, February 14th. Finally, William Blair lowered shares of CymaBay Therapeutics from an outperform rating to a market perform rating in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $28.65.

CymaBay Therapeutics Stock Up 0.0 %

Shares of NASDAQ CBAY opened at $32.48 on Monday. The company’s fifty day moving average is $29.62 and its 200-day moving average is $22.29. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -33.48 and a beta of 0.32. CymaBay Therapeutics has a twelve month low of $7.26 and a twelve month high of $32.50.

CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The company had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.42 million. On average, research analysts anticipate that CymaBay Therapeutics will post -1.38 EPS for the current fiscal year.

Insider Activity at CymaBay Therapeutics

In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $23.86, for a total value of $143,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Charles Mcwherter sold 18,403 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $23.67, for a total transaction of $435,599.01. Following the completion of the sale, the insider now owns 15,000 shares of the company’s stock, valued at approximately $355,050. The sale was disclosed in a legal 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 that occurred on Wednesday, January 10th. The stock was sold at an average price of $23.86, for a total transaction of $143,160.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,403 shares of company stock worth $1,124,279. Insiders own 7.00% of the company’s stock.

Institutional Trading of CymaBay Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Chartwell Investment Partners LLC increased its position in CymaBay Therapeutics by 0.7% during the 4th quarter. Chartwell Investment Partners LLC now owns 49,388 shares of the biopharmaceutical company’s stock worth $1,166,000 after purchasing an additional 360 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in CymaBay Therapeutics by 1.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,669 shares of the biopharmaceutical company’s stock worth $1,150,000 after purchasing an additional 525 shares in the last quarter. Alps Advisors Inc. increased its position in CymaBay Therapeutics by 1.1% during the 3rd quarter. Alps Advisors Inc. now owns 72,461 shares of the biopharmaceutical company’s stock worth $1,080,000 after purchasing an additional 783 shares in the last quarter. Strategic Blueprint LLC increased its position in CymaBay Therapeutics by 6.3% during the 3rd quarter. Strategic Blueprint LLC now owns 16,800 shares of the biopharmaceutical company’s stock worth $250,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in CymaBay Therapeutics during the 4th quarter worth approximately $26,000. 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).