CymaBay Therapeutics, Inc. (NASDAQ:CBAY) Receives Consensus Recommendation of “Hold” from Analysts

CymaBay Therapeutics, Inc. (NASDAQ:CBAY) has received a consensus recommendation of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat reports. Eleven research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $28.65.

Several equities analysts recently weighed in on the company. HC Wainwright reaffirmed a “neutral” rating and issued a $32.50 price objective on shares of CymaBay Therapeutics in a research note on Thursday, February 29th. Jonestrading reissued a “hold” rating on shares of CymaBay Therapeutics in a research note on Tuesday, February 13th. William Blair downgraded CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. B. Riley restated a “neutral” rating and set a $32.50 price objective (up previously from $29.00) on shares of CymaBay Therapeutics in a report on Tuesday, February 13th. Finally, Raymond James lowered CymaBay Therapeutics from an “outperform” rating to a “market perform” rating and set a $32.50 price target on the stock. in a research note on Tuesday, February 13th.

Insider Activity

In related news, VP Daniel Menold sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $23.58, for a total value of $235,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other CymaBay Therapeutics news, VP Daniel Menold sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $23.58, for a total value of $235,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Paul T. Quinlan sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $23.58, for a total transaction of $117,900.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,403 shares of company stock worth $981,119. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On CymaBay Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CBAY. Harvest Fund Management Co. Ltd bought a new stake in shares of CymaBay Therapeutics during the 4th quarter valued at $26,000. Royal Bank of Canada increased its position in CymaBay Therapeutics by 506.5% during the 3rd quarter. Royal Bank of Canada now owns 7,581 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 6,331 shares in the last quarter. Jane Street Group LLC acquired a new stake in CymaBay Therapeutics in the second quarter valued at approximately $36,000. China Universal Asset Management Co. Ltd. grew its stake in shares of CymaBay Therapeutics by 96.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,516 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,238 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in shares of CymaBay Therapeutics during the first quarter worth $40,000. Institutional investors own 95.03% of the company’s stock.

CymaBay Therapeutics Stock Performance

CBAY stock opened at $32.48 on Thursday. The business’s fifty day moving average price is $31.25 and its 200 day moving average price is $23.37. CymaBay Therapeutics has a 12-month low of $7.26 and a 12-month 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 announced its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the consensus estimate 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. Research analysts predict that CymaBay Therapeutics will post -1.38 EPS for the current fiscal year.

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).