Nisa Investment Advisors LLC Cuts Stock Holdings in CymaBay Therapeutics, Inc. (NASDAQ:CBAY)

Nisa Investment Advisors LLC reduced its stake in CymaBay Therapeutics, Inc. (NASDAQ:CBAY) by 42.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,211 shares of the biopharmaceutical company’s stock after selling 880 shares during the period. Nisa Investment Advisors LLC’s holdings in CymaBay Therapeutics were worth $29,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in CymaBay Therapeutics by 1.1% during 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 last quarter. International Assets Investment Management LLC bought a new position in shares of CymaBay Therapeutics during the 4th quarter valued at approximately $3,149,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of CymaBay Therapeutics by 421.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,114 shares of the biopharmaceutical company’s stock valued at $310,000 after purchasing an additional 10,598 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of CymaBay Therapeutics in the fourth quarter valued at $17,629,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in CymaBay Therapeutics by 12.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 113,883 shares of the biopharmaceutical company’s stock worth $2,690,000 after purchasing an additional 12,554 shares during the last quarter. Institutional investors own 95.03% of the company’s stock.

Analyst Upgrades and Downgrades

CBAY has been the subject of a number of recent research reports. Piper Sandler reissued a “neutral” rating and issued a $32.50 price objective (down from $33.00) on shares of CymaBay Therapeutics in a research note on Wednesday, February 14th. StockNews.com initiated coverage on CymaBay Therapeutics in a research report on Friday. They issued a “sell” rating for the company. Raymond James downgraded CymaBay Therapeutics from an “outperform” rating to a “market perform” rating and set a $32.50 price objective on the stock. in a research report on Tuesday, February 13th. HC Wainwright reiterated a “neutral” rating and issued a $32.50 target price on shares of CymaBay Therapeutics in a report on Thursday, February 29th. Finally, William Blair lowered CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, CymaBay Therapeutics has a consensus rating of “Hold” and an average target price of $28.65.

Insiders Place Their Bets

In other news, Director Janet Dorling sold 6,000 shares of CymaBay Therapeutics stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $31.97, for a total transaction of $191,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.00% of the company’s stock.

CymaBay Therapeutics Price Performance

Shares of CymaBay Therapeutics stock opened at $32.48 on Tuesday. The stock’s fifty day moving average is $32.38 and its two-hundred day moving average is $24.44. CymaBay Therapeutics, Inc. has a 52 week low of $7.26 and a 52 week high of $32.50. The company has a market capitalization of $3.73 billion, a PE ratio of -33.48 and a beta of 0.32.

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

CymaBay Therapeutics 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).