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

Investment analysts at StockNews.com initiated coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a research report issued to clients and investors on Saturday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued reports about the stock. William Blair lowered shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Lifesci Capital lowered shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Jonestrading restated a “hold” rating on shares of CymaBay Therapeutics in a report on Tuesday, February 13th. Piper Sandler restated a “neutral” rating and issued a $32.50 price objective (down from $33.00) on shares of CymaBay Therapeutics in a report on Wednesday, February 14th. Finally, B. Riley restated a “neutral” rating and issued a $32.50 price objective (up from $29.00) on shares of CymaBay Therapeutics in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.65.

CymaBay Therapeutics Stock Up 0.0 %

Shares of CBAY stock opened at $32.48 on Friday. CymaBay Therapeutics has a 52 week low of $7.26 and a 52 week high of $32.50. The stock has a market capitalization of $3.73 billion, a PE ratio of -33.48 and a beta of 0.32. The firm has a 50 day moving average of $32.40 and a two-hundred day moving average of $24.96.

CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The business had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.42 million. Analysts expect that CymaBay Therapeutics will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling

In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of CymaBay Therapeutics 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 transaction was disclosed in a document filed with the SEC, which is available through this link. 7.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd acquired a new position in CymaBay Therapeutics in the fourth quarter valued at $26,000. AJOVista LLC purchased a new stake in shares of CymaBay Therapeutics in the fourth quarter valued at about $42,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of CymaBay Therapeutics by 96.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,516 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 1,238 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of CymaBay Therapeutics in the fourth quarter valued at about $71,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of CymaBay Therapeutics in the fourth quarter valued at about $89,000. 95.03% of the stock is currently owned by institutional investors and hedge funds.

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).