CymaBay Therapeutics (NASDAQ:CBAY) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a report published on Friday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Several other research firms have also recently weighed in on CBAY. B. Riley reiterated a neutral rating and issued a $32.50 target price (up previously from $29.00) on shares of CymaBay Therapeutics in a research note on Tuesday, February 13th. Lifesci Capital cut shares of CymaBay Therapeutics from an outperform rating to a market perform rating in a research note on Wednesday, February 14th. UBS Group restated a neutral rating and set a $32.50 price target (up previously from $25.00) on shares of CymaBay Therapeutics in a research note on Wednesday, February 14th. SVB Leerink restated a market perform rating and set a $32.50 price target on shares of CymaBay Therapeutics in a research note on Tuesday, February 20th. Finally, HC Wainwright restated a neutral rating and set a $32.50 price target on shares of CymaBay Therapeutics in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, CymaBay Therapeutics presently has a consensus rating of Hold and a consensus target price of $28.65.

CymaBay Therapeutics Stock Performance

NASDAQ CBAY opened at $32.48 on Friday. The firm has a 50-day simple moving average of $32.24 and a 200 day simple moving average of $24.04. CymaBay Therapeutics has a twelve month low of $7.26 and a twelve month high of $32.50. The stock has a market cap of $3.73 billion, a PE ratio of -33.48 and a beta of 0.32.

CymaBay Therapeutics (NASDAQ:CBAY) last released its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The company had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.42 million. Research analysts forecast that CymaBay Therapeutics will post -1.38 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Janet Dorling sold 6,000 shares of the firm’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available at this link. 7.00% of the stock is currently owned by corporate insiders.

Institutional Trading of CymaBay Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Chartwell Investment Partners LLC increased its holdings in shares of CymaBay Therapeutics by 0.7% in the fourth quarter. Chartwell Investment Partners LLC now owns 49,388 shares of the biopharmaceutical company’s stock valued at $1,166,000 after purchasing an additional 360 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in CymaBay Therapeutics by 1.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,669 shares of the biopharmaceutical company’s stock worth $1,150,000 after acquiring an additional 525 shares during the period. Alps Advisors Inc. grew its holdings in CymaBay Therapeutics by 1.1% during the 3rd quarter. Alps Advisors Inc. now owns 72,461 shares of the biopharmaceutical company’s stock worth $1,080,000 after acquiring an additional 783 shares during the period. Strategic Blueprint LLC grew its holdings in CymaBay Therapeutics by 6.3% during the 3rd quarter. Strategic Blueprint LLC now owns 16,800 shares of the biopharmaceutical company’s stock worth $250,000 after acquiring an additional 1,000 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in CymaBay Therapeutics during the 4th quarter worth $26,000. Institutional investors and hedge funds own 95.03% of the company’s stock.

About CymaBay Therapeutics

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).