Golden State Equity Partners Grows Position in CymaBay Therapeutics, Inc. (NASDAQ:CBAY)

Golden State Equity Partners raised its stake in CymaBay Therapeutics, Inc. (NASDAQ:CBAY) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,289 shares of the biopharmaceutical company’s stock after buying an additional 4,289 shares during the period. Golden State Equity Partners’ holdings in CymaBay Therapeutics were worth $1,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CBAY. SG Americas Securities LLC acquired a new position in CymaBay Therapeutics during the 3rd quarter valued at approximately $230,000. Strategic Blueprint LLC raised its position in shares of CymaBay Therapeutics by 6.3% in the third quarter. Strategic Blueprint LLC now owns 16,800 shares of the biopharmaceutical company’s stock valued at $250,000 after buying an additional 1,000 shares during the last quarter. Raymond James & Associates increased its position in CymaBay Therapeutics by 14.7% during the third quarter. Raymond James & Associates now owns 39,515 shares of the biopharmaceutical company’s stock worth $589,000 after purchasing an additional 5,050 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in CymaBay Therapeutics by 3.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 101,329 shares of the biopharmaceutical company’s stock worth $1,511,000 after purchasing an additional 3,434 shares during the last quarter. Finally, Emerald Advisers LLC acquired a new stake in CymaBay Therapeutics during the third quarter worth about $14,668,000. Hedge funds and other institutional investors own 95.03% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

CBAY has been the subject of a number of recent analyst reports. BTIG Research reiterated a “neutral” rating on shares of CymaBay Therapeutics in a research report on Tuesday, February 13th. SVB Leerink reissued a “market perform” rating and issued 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 price objective (up previously from $29.00) on shares of CymaBay Therapeutics in a research note on Tuesday, February 13th. HC Wainwright reissued a “neutral” rating and issued a $32.50 price objective on shares of CymaBay Therapeutics in a research note on Thursday, February 29th. Finally, Lifesci Capital lowered shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. One equities research 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’s stock. According to MarketBeat, CymaBay Therapeutics presently has an average rating of “Hold” and an average target price of $28.65.

CymaBay Therapeutics Stock Performance

Shares of NASDAQ:CBAY opened at $32.48 on Friday. The firm has a 50 day simple moving average of $32.40 and a 200-day simple moving average of $24.88. CymaBay Therapeutics, Inc. has a twelve month low of $7.26 and a twelve 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 issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.42 million. As a group, equities research analysts predict that CymaBay Therapeutics, Inc. 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).