CymaBay Therapeutics Inc (NASDAQ:CBAY) shares were up 5.4% on Friday . The company traded as high as $1.78 and last traded at $1.75, approximately 3,005,140 shares changed hands during mid-day trading. An increase of 171% from the average daily volume of 1,110,397 shares. The stock had previously closed at $1.66.
CBAY has been the subject of a number of research reports. Roth Capital lowered CymaBay Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $22.00 to $2.00 in a research note on Tuesday, November 26th. Leerink Swann lowered CymaBay Therapeutics to a “hold” rating and set a $2.50 price objective for the company. in a report on Tuesday, November 26th. Cantor Fitzgerald lowered CymaBay Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $2.00 in a report on Tuesday, November 26th. Evercore ISI reaffirmed a “buy” rating and set a $12.00 target price on shares of CymaBay Therapeutics in a research note on Sunday, November 24th. Finally, HC Wainwright lowered CymaBay Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $2.00 in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. CymaBay Therapeutics presently has a consensus rating of “Hold” and an average target price of $6.85.
The company has a fifty day simple moving average of $4.31 and a 200-day simple moving average of $6.29. The company has a market cap of $114.04 million, a P/E ratio of -1.39 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 13.12 and a quick ratio of 13.12.
In related news, CEO Sujal Shah purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was acquired at an average price of $5.53 per share, for a total transaction of $27,650.00. Following the transaction, the chief executive officer now directly owns 111,900 shares of the company’s stock, valued at approximately $618,807. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 11,900 shares of company stock valued at $59,600 in the last quarter. 4.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in shares of CymaBay Therapeutics by 401.5% in the 3rd quarter. Millennium Management LLC now owns 3,723,797 shares of the biopharmaceutical company’s stock valued at $19,065,000 after acquiring an additional 2,981,292 shares in the last quarter. BlackRock Inc. raised its stake in CymaBay Therapeutics by 9.8% during the 2nd quarter. BlackRock Inc. now owns 5,530,692 shares of the biopharmaceutical company’s stock valued at $39,600,000 after purchasing an additional 493,662 shares during the period. Barclays PLC lifted its holdings in shares of CymaBay Therapeutics by 100.2% in the third quarter. Barclays PLC now owns 802,752 shares of the biopharmaceutical company’s stock valued at $4,111,000 after purchasing an additional 401,778 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of CymaBay Therapeutics in the third quarter valued at $1,765,000. Finally, Nuveen Asset Management LLC acquired a new stake in shares of CymaBay Therapeutics in the second quarter worth $2,463,000. Institutional investors and hedge funds own 93.36% of the company’s stock.
CymaBay Therapeutics Company Profile (NASDAQ:CBAY)
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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