BidaskClub Upgrades CymaBay Therapeutics (NASDAQ:CBAY) to Sell

BidaskClub upgraded shares of CymaBay Therapeutics (NASDAQ:CBAY) from a strong sell rating to a sell rating in a research report report published on Wednesday morning, BidAskClub reports.

A number of other research analysts also recently weighed in on CBAY. Zacks Investment Research upgraded shares of CymaBay Therapeutics from a hold rating to a buy rating and set a $5.75 price objective on the stock in a research report on Tuesday, October 8th. Evercore ISI restated a buy rating and set a $15.00 price objective on shares of CymaBay Therapeutics in a research report on Wednesday, August 14th. ValuEngine downgraded shares of CymaBay Therapeutics from a strong-buy rating to a buy rating in a research report on Thursday, October 10th. Finally, Cantor Fitzgerald set a $20.00 price objective on shares of CymaBay Therapeutics and gave the company a buy rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the stock. CymaBay Therapeutics presently has a consensus rating of Buy and a consensus target price of $13.25.

Shares of NASDAQ CBAY traded down $0.33 during midday trading on Wednesday, hitting $4.62. The stock had a trading volume of 569,000 shares, compared to its average volume of 874,046. The business’s 50 day moving average is $5.26 and its 200-day moving average is $8.08. The company has a market cap of $337.32 million, a P/E ratio of -3.67 and a beta of 1.32. CymaBay Therapeutics has a 52 week low of $4.23 and a 52 week high of $14.00. The company has a quick ratio of 16.20, a current ratio of 16.20 and a debt-to-equity ratio of 0.01.

CymaBay Therapeutics (NASDAQ:CBAY) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.02. As a group, analysts expect that CymaBay Therapeutics will post -1.47 EPS for the current fiscal year.

In related news, CEO Sujal Shah acquired 5,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average price of $5.53 per share, for a total transaction of $27,650.00. Following the completion of the transaction, the chief executive officer now directly owns 111,900 shares in the company, valued at $618,807. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have purchased 11,900 shares of company stock worth $59,600. 4.20% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in CymaBay Therapeutics by 9.8% during the second quarter. BlackRock Inc. now owns 5,530,692 shares of the biopharmaceutical company’s stock valued at $39,600,000 after buying an additional 493,662 shares during the last quarter. Vanguard Group Inc. increased its holdings in CymaBay Therapeutics by 6.8% during the second quarter. Vanguard Group Inc. now owns 3,559,875 shares of the biopharmaceutical company’s stock valued at $25,488,000 after buying an additional 226,906 shares during the last quarter. Vivo Capital LLC increased its holdings in CymaBay Therapeutics by 4.8% during the second quarter. Vivo Capital LLC now owns 2,154,934 shares of the biopharmaceutical company’s stock valued at $15,429,000 after buying an additional 98,934 shares during the last quarter. Rock Springs Capital Management LP increased its holdings in CymaBay Therapeutics by 25.9% during the second quarter. Rock Springs Capital Management LP now owns 900,000 shares of the biopharmaceutical company’s stock valued at $6,444,000 after buying an additional 185,000 shares during the last quarter. Finally, Fosun International Ltd increased its holdings in CymaBay Therapeutics by 5.3% during the second quarter. Fosun International Ltd now owns 834,096 shares of the biopharmaceutical company’s stock valued at $5,935,000 after buying an additional 42,000 shares during the last quarter. 98.60% of the stock is owned by institutional investors and hedge funds.

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, a selective agonist of peroxisome proliferator-activated receptor delta, which has completed Phase II clinical study for the treatment of primary biliary cholangitis, as well as patients with nonalcoholic steatohepatitis.

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Analyst Recommendations for CymaBay Therapeutics (NASDAQ:CBAY)

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