Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in CymaBay Therapeutics, Inc. (NASDAQ:CBAY)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in CymaBay Therapeutics, Inc. (NASDAQ:CBAYGet Rating) by 117.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 145,913 shares of the biopharmaceutical company’s stock after buying an additional 78,692 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.17% of CymaBay Therapeutics worth $430,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CBAY. Amalgamated Bank purchased a new position in CymaBay Therapeutics in the 1st quarter worth about $26,000. LVM Capital Management Ltd. MI purchased a new stake in shares of CymaBay Therapeutics during the 2nd quarter valued at about $30,000. Great Lakes Advisors LLC purchased a new stake in shares of CymaBay Therapeutics during the 1st quarter valued at about $31,000. Clear Harbor Asset Management LLC increased its position in shares of CymaBay Therapeutics by 47.2% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 15,600 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 5,000 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of CymaBay Therapeutics during the 1st quarter valued at about $53,000. Hedge funds and other institutional investors own 74.92% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of CymaBay Therapeutics in a research report on Wednesday, October 12th. They set a “hold” rating for the company. One analyst has rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $10.00.

CymaBay Therapeutics Price Performance

NASDAQ CBAY opened at $3.55 on Friday. The company has a 50-day moving average price of $3.50 and a 200-day moving average price of $3.06. The firm has a market capitalization of $300.61 million, a P/E ratio of -2.73 and a beta of 0.54. CymaBay Therapeutics, Inc. has a 52 week low of $1.67 and a 52 week high of $4.55. The company has a quick ratio of 13.27, a current ratio of 13.27 and a debt-to-equity ratio of 1.00.

CymaBay Therapeutics (NASDAQ:CBAYGet Rating) last released its earnings results on Thursday, August 11th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.01). During the same period in the prior year, the firm earned ($0.34) EPS. Equities research analysts anticipate that CymaBay Therapeutics, Inc. will post -1.21 earnings per share for the current year.

About CymaBay Therapeutics

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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 that is in phase III clinical study for the treatments of primary biliary cholangitis (PBC), as well as has completed Phase 2b clinical study to treat patients with nonalcoholic steatohepatitis.

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Institutional Ownership by Quarter for CymaBay Therapeutics (NASDAQ:CBAY)

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