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

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

A number of other research analysts also recently weighed in on CBAY. UBS Group reissued a neutral rating and issued a $32.50 price objective (up from $25.00) on shares of CymaBay Therapeutics in a research note on Wednesday, February 14th. HC Wainwright reissued a neutral rating and set a $32.50 target price on shares of CymaBay Therapeutics in a research report on Thursday, February 29th. Cantor Fitzgerald downgraded CymaBay Therapeutics from an overweight rating to a neutral rating and set a $32.50 price target on the stock. in a research report on Tuesday, February 13th. BTIG Research reiterated a neutral rating on shares of CymaBay Therapeutics in a research note on Tuesday, February 13th. Finally, Jonestrading restated a hold rating on shares of CymaBay Therapeutics in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $28.65.

CymaBay Therapeutics Price Performance

CBAY stock remained flat at $32.48 during mid-day trading on Friday. The company’s stock had a trading volume of 73 shares, compared to its average volume of 4,113,430. CymaBay Therapeutics has a 12 month low of $7.26 and a 12 month high of $32.50. The business’s fifty day moving average price is $32.43 and its two-hundred day moving average price is $25.62. The stock has a market cap of $3.73 billion, a PE ratio of -33.48 and a beta of 0.32.

CymaBay Therapeutics (NASDAQ:CBAY) last posted its earnings results 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 business had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.42 million. As a group, equities analysts anticipate 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 the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $31.97, for a total value of $191,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of CymaBay Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd bought a new position in CymaBay Therapeutics during the fourth quarter worth about $26,000. AJOVista LLC acquired a new position in shares of CymaBay Therapeutics in the 4th quarter valued at approximately $42,000. China Universal Asset Management Co. Ltd. increased its stake in CymaBay Therapeutics by 96.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,516 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,238 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in CymaBay Therapeutics during the 4th quarter worth approximately $71,000. Finally, Tucker Asset Management LLC bought a new position in CymaBay Therapeutics in the fourth quarter valued at approximately $89,000. 95.03% of the stock is owned by institutional investors.

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).