Raymond James & Associates Buys 12,296 Shares of CymaBay Therapeutics, Inc. (NASDAQ:CBAY)

Raymond James & Associates lifted its stake in shares of CymaBay Therapeutics, Inc. (NASDAQ:CBAY) by 55.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,465 shares of the biopharmaceutical company’s stock after purchasing an additional 12,296 shares during the period. Raymond James & Associates’ holdings in CymaBay Therapeutics were worth $377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new stake in CymaBay Therapeutics in the 2nd quarter valued at $51,000. Prelude Capital Management LLC bought a new stake in CymaBay Therapeutics in the 1st quarter valued at $96,000. Golden State Equity Partners bought a new stake in CymaBay Therapeutics in the 1st quarter valued at $436,000. JPMorgan Chase & Co. raised its stake in CymaBay Therapeutics by 18,028.6% in the 1st quarter. JPMorgan Chase & Co. now owns 542,407 shares of the biopharmaceutical company’s stock valued at $4,730,000 after acquiring an additional 539,415 shares during the period. Finally, Perceptive Advisors LLC raised its stake in CymaBay Therapeutics by 450.5% in the 1st quarter. Perceptive Advisors LLC now owns 3,903,255 shares of the biopharmaceutical company’s stock valued at $34,036,000 after acquiring an additional 3,194,262 shares during the period. Institutional investors own 95.03% of the company’s stock.

Insider Activity at CymaBay Therapeutics

In related news, CEO Sujal Shah sold 64,861 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $14.20, for a total value of $921,026.20. Following the sale, the chief executive officer now directly owns 171,301 shares of the company’s stock, valued at $2,432,474.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sujal Shah sold 64,861 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $14.20, for a total value of $921,026.20. Following the sale, the chief executive officer now directly owns 171,301 shares of the company’s stock, valued at $2,432,474.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kurt Von Emster sold 15,921 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $15.68, for a total value of $249,641.28. Following the completion of the sale, the director now directly owns 90,000 shares in the company, valued at $1,411,200. The disclosure for this sale can be found here. Insiders have sold 209,017 shares of company stock valued at $3,101,198 over the last ninety days. 7.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CBAY. Raymond James increased their price target on CymaBay Therapeutics from $33.00 to $34.00 and gave the company a “strong-buy” rating in a research note on Wednesday. UBS Group increased their price objective on CymaBay Therapeutics from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, September 26th. Guggenheim assumed coverage on CymaBay Therapeutics in a research report on Friday, August 11th. They set a “buy” rating and a $20.00 price objective on the stock. B. Riley increased their price objective on CymaBay Therapeutics from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Finally, StockNews.com cut CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CymaBay Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $22.27.

CymaBay Therapeutics Stock Performance

CBAY opened at $16.30 on Friday. The firm has a market cap of $1.80 billion, a P/E ratio of -17.72 and a beta of 0.29. CymaBay Therapeutics, Inc. has a 52-week low of $3.17 and a 52-week high of $18.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 12.52 and a current ratio of 22.76. The business’s fifty day moving average is $15.09 and its 200-day moving average is $12.23.

CymaBay Therapeutics (NASDAQ:CBAY) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). During the same period in the prior year, the business earned ($0.28) earnings per share. Sell-side analysts expect that CymaBay Therapeutics, Inc. will post -0.92 EPS for the current fiscal year.

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 autoimmune liver disease, primary biliary cholangitis (PBC).