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

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

Other equities research analysts also recently issued reports about the company. BTIG Research restated a “neutral” rating on shares of CymaBay Therapeutics in a research report on Tuesday, February 13th. Jonestrading restated a “hold” rating on shares of CymaBay Therapeutics in a report on Tuesday, February 13th. Raymond James cut CymaBay Therapeutics from an “outperform” rating to a “market perform” rating and set a $32.50 target price for the company. in a research note on Tuesday, February 13th. William Blair cut shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Finally, UBS Group restated a “neutral” rating and set a $32.50 price objective (up previously from $25.00) on shares of CymaBay Therapeutics in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.65.

CymaBay Therapeutics Price Performance

CBAY stock opened at $32.48 on Friday. The company has a 50-day simple moving average of $32.43 and a 200 day simple moving average of $25.53. The company has a market capitalization of $3.73 billion, a P/E 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.

CymaBay Therapeutics (NASDAQ:CBAY) last released 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 business had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.42 million. Equities analysts anticipate that CymaBay Therapeutics will post -1.38 EPS for the current year.

Insider Buying and Selling

In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $31.97, for a total value of $191,820.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 7.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CymaBay Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CBAY. New York State Common Retirement Fund increased its holdings in 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 buying an additional 18,381 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of CymaBay Therapeutics during the 4th quarter worth $17,629,000. Vanguard Group Inc. increased its stake in shares of CymaBay Therapeutics by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,747,587 shares of the biopharmaceutical company’s stock worth $85,697,000 after purchasing an additional 598,707 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in shares of CymaBay Therapeutics during the 3rd quarter valued at $12,073,000. Finally, Emerald Advisers LLC acquired a new stake in shares of CymaBay Therapeutics in the 3rd quarter valued at $14,668,000. 95.03% of the stock is currently owned by hedge funds and other 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).