Bain Capital Life Sciences Investors LLC Acquires Shares of 2,500,000 CymaBay Therapeutics, Inc. (NASDAQ:CBAY)

Bain Capital Life Sciences Investors LLC acquired a new stake in shares of CymaBay Therapeutics, Inc. (NASDAQ:CBAY) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,500,000 shares of the biopharmaceutical company’s stock, valued at approximately $21,800,000. CymaBay Therapeutics makes up 2.7% of Bain Capital Life Sciences Investors LLC’s portfolio, making the stock its 13th largest position. Bain Capital Life Sciences Investors LLC owned about 2.57% of CymaBay Therapeutics as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CBAY. Royal Bank of Canada lifted its stake in CymaBay Therapeutics by 506.5% during the 3rd quarter. Royal Bank of Canada now owns 7,581 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 6,331 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of CymaBay Therapeutics during the 2nd quarter valued at $36,000. Dorsey Wright & Associates purchased a new stake in shares of CymaBay Therapeutics during the 4th quarter valued at $39,000. Great West Life Assurance Co. Can purchased a new stake in shares of CymaBay Therapeutics during the 1st quarter valued at $40,000. Finally, Verition Fund Management LLC purchased a new stake in shares of CymaBay Therapeutics during the 2nd quarter valued at $47,000. 95.03% of the stock is currently owned by institutional investors.

CymaBay Therapeutics Stock Performance

NASDAQ:CBAY opened at $17.13 on Tuesday. The stock has a market cap of $1.68 billion, a P/E ratio of -19.47 and a beta of 0.35. The company has a quick ratio of 12.52, a current ratio of 12.52 and a debt-to-equity ratio of 0.92. The business’s 50-day moving average price is $12.63 and its two-hundred day moving average price is $10.38. CymaBay Therapeutics, Inc. has a twelve month low of $3.15 and a twelve month high of $17.83.

CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.20. The company had revenue of $31.02 million during the quarter, compared to the consensus estimate of $30.78 million. As a group, equities analysts predict that CymaBay Therapeutics, Inc. will post -0.94 EPS for the current fiscal year.

Insider Transactions at CymaBay Therapeutics

In other news, insider Charles Mcwherter sold 21,749 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $8.16, for a total value of $177,471.84. Following the transaction, the insider now owns 15,000 shares of the company’s stock, valued at approximately $122,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Charles Mcwherter sold 21,749 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $8.16, for a total value of $177,471.84. Following the completion of the sale, the insider now owns 15,000 shares of the company’s stock, valued at approximately $122,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Paul T. Quinlan sold 5,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $11.91, for a total transaction of $59,550.00. The disclosure for this sale can be found here. Insiders have sold 101,189 shares of company stock valued at $1,103,010 in the last quarter. Insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

CBAY has been the subject of several research analyst reports. Jonestrading raised their target price on CymaBay Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, August 15th. Raymond James raised their target price on CymaBay Therapeutics from $17.00 to $33.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 7th. BTIG Research lifted their price objective on CymaBay Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Friday. UBS Group started coverage on CymaBay Therapeutics in a report on Monday, August 14th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, B. Riley lifted their price objective on CymaBay Therapeutics from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CymaBay Therapeutics has a consensus rating of “Buy” and an average target price of $19.18.

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 autoimmune liver disease, primary biliary cholangitis (PBC).