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

StockNews.com began coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a research note issued to investors on Monday. The firm issued a sell rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently issued reports on the company. Cantor Fitzgerald cut CymaBay Therapeutics from an overweight rating to a neutral rating and set a $32.50 price objective for the company. in a research note on Tuesday, February 13th. SVB Leerink reiterated a market perform rating and set a $32.50 price objective on shares of CymaBay Therapeutics in a research note on Tuesday, February 20th. B. Riley reissued a neutral rating and issued a $32.50 target price (up previously from $29.00) on shares of CymaBay Therapeutics in a report on Tuesday, February 13th. Raymond James lowered CymaBay Therapeutics from an outperform rating to a market perform rating and set a $32.50 target price for the company. in a report on Tuesday, February 13th. Finally, William Blair lowered CymaBay Therapeutics from an outperform rating to a market perform rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $28.65.

CymaBay Therapeutics Stock Up 0.0 %

CBAY opened at $32.48 on Monday. The business has a 50 day moving average of $29.45 and a 200-day moving average of $22.22. The stock has a market cap of $3.73 billion, a PE 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 announced its quarterly earnings data 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 business had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.42 million. Equities analysts anticipate that CymaBay Therapeutics will post -1.38 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Paul T. Quinlan sold 5,000 shares of CymaBay Therapeutics stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $23.58, for a total value of $117,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $23.86, for a total transaction of $143,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Paul T. Quinlan sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $23.58, for a total value of $117,900.00. The disclosure for this sale can be found here. Insiders sold 45,403 shares of company stock valued at $1,124,279 over the last 90 days. Company insiders own 7.00% of the company’s stock.

Institutional Trading of CymaBay Therapeutics

Several hedge funds have recently bought and sold shares of CBAY. Raymond James & Associates grew its holdings in CymaBay Therapeutics by 26.3% during the first quarter. Raymond James & Associates now owns 97,604 shares of the biopharmaceutical company’s stock valued at $304,000 after purchasing an additional 20,337 shares during the period. Bank of New York Mellon Corp lifted its position in shares of CymaBay Therapeutics by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 276,766 shares of the biopharmaceutical company’s stock valued at $861,000 after acquiring an additional 21,961 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of CymaBay Therapeutics in the first quarter valued at about $163,000. BlackRock Inc. lifted its position in shares of CymaBay Therapeutics by 2.7% in the first quarter. BlackRock Inc. now owns 5,466,209 shares of the biopharmaceutical company’s stock valued at $16,998,000 after acquiring an additional 142,081 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of CymaBay Therapeutics by 18.4% in the first quarter. Dimensional Fund Advisors LP now owns 940,806 shares of the biopharmaceutical company’s stock valued at $2,926,000 after acquiring an additional 145,965 shares in the last quarter. Institutional investors own 95.03% of the company’s stock.

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).