CymaBay Therapeutics (NASDAQ:CBAY) Coverage Initiated at StockNews.com

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

CBAY has been the subject of a number of other research reports. UBS Group reaffirmed a neutral rating and issued a $32.50 target price (up previously from $25.00) on shares of CymaBay Therapeutics in a research report on Wednesday, February 14th. Lifesci Capital downgraded shares of CymaBay Therapeutics from an outperform rating to a market perform rating in a research report on Wednesday, February 14th. William Blair cut shares of CymaBay Therapeutics from an outperform rating to a market perform rating in a research note on Monday, February 12th. Cantor Fitzgerald cut shares of CymaBay Therapeutics from an overweight rating to a neutral rating and set a $32.50 price target on the stock. in a research note on Tuesday, February 13th. Finally, 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 note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $28.65.

CymaBay Therapeutics Stock Performance

NASDAQ:CBAY opened at $32.48 on Friday. CymaBay Therapeutics has a 12 month low of $7.26 and a 12 month high of $32.50. The company has a market cap of $3.73 billion, a PE ratio of -33.48 and a beta of 0.32. The company has a 50 day simple moving average of $32.40 and a two-hundred day simple moving average of $24.88.

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

Insider Activity at CymaBay Therapeutics

In related news, Director Janet Dorling sold 6,000 shares of CymaBay Therapeutics stock in a transaction on Monday, February 12th. The shares were sold at an average price of $31.97, for a total transaction of $191,820.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 7.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. New York State Common Retirement Fund lifted its stake in shares of CymaBay Therapeutics by 39.9% during the 3rd quarter. New York State Common Retirement Fund now owns 64,404 shares of the biopharmaceutical company’s stock valued at $960,000 after buying an additional 18,381 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in CymaBay Therapeutics in the 4th quarter worth $17,629,000. Vanguard Group Inc. lifted its stake in CymaBay Therapeutics by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,747,587 shares of the biopharmaceutical company’s stock worth $85,697,000 after purchasing an additional 598,707 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in CymaBay Therapeutics in the 3rd quarter worth $12,073,000. Finally, Emerald Advisers LLC purchased a new stake in CymaBay Therapeutics in the 3rd quarter worth $14,668,000. Hedge funds and other institutional investors own 95.03% of the company’s stock.

CymaBay Therapeutics Company Profile

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).