CymaBay Therapeutics (NASDAQ:CBAY) Coverage Initiated at StockNews.com

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

A number of other analysts have also weighed in on the company. William Blair lowered CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. SVB Leerink restated a “market perform” rating and set a $32.50 target price on shares of CymaBay Therapeutics in a report on Tuesday, February 20th. Piper Sandler restated a “neutral” rating and set a $32.50 target price (down previously from $33.00) on shares of CymaBay Therapeutics in a report on Wednesday, February 14th. Cantor Fitzgerald downgraded CymaBay Therapeutics from an “overweight” rating to a “neutral” rating and set a $32.50 target price for the company. in a report on Tuesday, February 13th. Finally, B. Riley restated a “neutral” rating and set a $32.50 target price (up previously from $29.00) on shares of CymaBay Therapeutics in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, CymaBay Therapeutics currently has a consensus rating of “Hold” and an average price target of $28.65.

CymaBay Therapeutics Stock Performance

NASDAQ:CBAY opened at $32.48 on Friday. The firm has a market cap of $3.73 billion, a PE ratio of -33.48 and a beta of 0.32. CymaBay Therapeutics has a fifty-two week low of $7.26 and a fifty-two week high of $32.50. The business has a 50 day moving average price of $32.40 and a 200-day moving average price of $24.80.

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

Insiders Place Their Bets

In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $31.97, for a total value of $191,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CymaBay Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund grew its stake in shares of CymaBay Therapeutics by 39.9% in the third quarter. New York State Common Retirement Fund now owns 64,404 shares of the biopharmaceutical company’s stock worth $960,000 after acquiring an additional 18,381 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of CymaBay Therapeutics in the fourth quarter worth $17,629,000. Vanguard Group Inc. grew its stake in shares of CymaBay Therapeutics by 11.6% in the third quarter. Vanguard Group Inc. now owns 5,747,587 shares of the biopharmaceutical company’s stock worth $85,697,000 after acquiring an additional 598,707 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of CymaBay Therapeutics in the third quarter worth $12,073,000. Finally, Emerald Advisers LLC purchased a new stake in shares of CymaBay Therapeutics in the third quarter worth $14,668,000. Institutional investors own 95.03% of the company’s stock.

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 primary biliary cholangitis (PBC).