CymaBay Therapeutics (NASDAQ:CBAY) Now Covered by StockNews.com

Investment analysts at StockNews.com started coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a research note issued on Sunday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently issued reports on the company. UBS Group reiterated a “neutral” rating and set a $32.50 price target (up previously from $25.00) on shares of CymaBay Therapeutics in a report on Wednesday, February 14th. B. Riley reaffirmed a “neutral” rating and issued a $32.50 price objective (up from $29.00) on shares of CymaBay Therapeutics in a research report on Tuesday, February 13th. Cantor Fitzgerald lowered shares of CymaBay Therapeutics from an “overweight” rating to a “neutral” rating and set a $32.50 price objective for the company. in a research note on Tuesday, February 13th. Lifesci Capital downgraded CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $32.50 price target on shares of CymaBay Therapeutics in a research report on Thursday, February 29th. One 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, the stock has a consensus rating of “Hold” and an average target price of $28.65.

CymaBay Therapeutics Price Performance

Shares of NASDAQ CBAY opened at $32.48 on Friday. The company has a market capitalization of $3.73 billion, a PE ratio of -33.48 and a beta of 0.32. CymaBay Therapeutics has a twelve month low of $7.26 and a twelve month high of $32.50. The firm has a fifty day simple moving average of $32.44 and a 200 day simple moving average of $25.75.

CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings data 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 firm had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.42 million. As a group, equities analysts expect that CymaBay Therapeutics will post -1.38 earnings per share for the current fiscal year.

Insider Buying and Selling at CymaBay Therapeutics

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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On CymaBay Therapeutics

A number of large investors have recently modified their holdings of CBAY. New York State Common Retirement Fund lifted its stake in CymaBay Therapeutics by 39.9% in the 3rd quarter. New York State Common Retirement Fund now owns 64,404 shares of the biopharmaceutical company’s stock worth $960,000 after purchasing an additional 18,381 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in CymaBay Therapeutics during the fourth quarter valued at $17,629,000. Vanguard Group Inc. grew its position in CymaBay Therapeutics by 11.6% during the third quarter. Vanguard Group Inc. now owns 5,747,587 shares of the biopharmaceutical company’s stock worth $85,697,000 after buying an additional 598,707 shares in the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in CymaBay Therapeutics in the 3rd quarter worth about $12,073,000. Finally, Emerald Advisers LLC purchased a new stake in shares of CymaBay Therapeutics in the 3rd quarter valued at about $14,668,000. 95.03% of the stock is currently owned by institutional investors.

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).