StockNews.com Initiates Coverage on CymaBay Therapeutics (NASDAQ:CBAY)

Investment analysts at StockNews.com began coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a research note issued to investors on Friday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently weighed in on the company. B. Riley reissued a “neutral” rating and set a $32.50 price target (up previously from $29.00) on shares of CymaBay Therapeutics in a research report on Tuesday, February 13th. BTIG Research reissued a “neutral” rating on shares of CymaBay Therapeutics in a research report on Tuesday, February 13th. Lifesci Capital downgraded CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Piper Sandler reissued a “neutral” rating and set a $32.50 price target (down previously from $33.00) on shares of CymaBay Therapeutics in a research report on Wednesday, February 14th. Finally, Jonestrading reissued a “hold” rating on shares of CymaBay Therapeutics in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.65.

CymaBay Therapeutics Stock Performance

NASDAQ:CBAY opened at $32.48 on Friday. The stock’s 50-day simple moving average is $32.09 and its 200 day simple moving average is $23.99. The company has a market cap of $3.73 billion, a P/E ratio of -33.48 and a beta of 0.32. CymaBay Therapeutics has a 52-week low of $7.26 and a 52-week high of $32.50.

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

Insider Activity

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 stock was sold at an average price of $31.97, for a total value of $191,820.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On CymaBay Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Chartwell Investment Partners LLC boosted its stake in shares of CymaBay Therapeutics by 0.7% in the fourth quarter. Chartwell Investment Partners LLC now owns 49,388 shares of the biopharmaceutical company’s stock valued at $1,166,000 after buying an additional 360 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CymaBay Therapeutics by 1.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,669 shares of the biopharmaceutical company’s stock valued at $1,150,000 after buying an additional 525 shares during the period. Alps Advisors Inc. boosted its stake in shares of CymaBay Therapeutics by 1.1% in the third quarter. Alps Advisors Inc. now owns 72,461 shares of the biopharmaceutical company’s stock valued at $1,080,000 after buying an additional 783 shares during the period. Strategic Blueprint LLC boosted its stake in shares of CymaBay Therapeutics by 6.3% in the third quarter. Strategic Blueprint LLC now owns 16,800 shares of the biopharmaceutical company’s stock valued at $250,000 after buying an additional 1,000 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in CymaBay Therapeutics during the fourth quarter worth $26,000. 95.03% of the stock is currently 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).