Omega Fund Management LLC continued to hold its stake in shares of CymaBay Therapeutics Inc (NASDAQ:CBAY) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 301,477 shares of the biopharmaceutical company’s stock at the end of the first quarter. CymaBay Therapeutics comprises 0.8% of Omega Fund Management LLC’s investment portfolio, making the stock its 10th largest position. Omega Fund Management LLC owned about 1.05% of CymaBay Therapeutics worth $1,296,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in CBAY. TFS Capital LLC acquired a new stake in shares of CymaBay Therapeutics during the first quarter worth about $169,000. Acadian Asset Management LLC acquired a new stake in shares of CymaBay Therapeutics during the first quarter worth about $129,000. Finally, J. Goldman & Co LP acquired a new stake in shares of CymaBay Therapeutics during the fourth quarter worth about $571,000. 27.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of CymaBay Therapeutics Inc (NASDAQ:CBAY) traded up 1.30% during mid-day trading on Friday, reaching $3.91. The company had a trading volume of 149,765 shares. The company’s market capitalization is $112.42 million. The company’s 50-day moving average price is $3.80 and its 200-day moving average price is $2.77. CymaBay Therapeutics Inc has a 52-week low of $1.15 and a 52-week high of $4.44.
CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings results on Thursday, May 11th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.07. The firm had revenue of $4.79 million for the quarter. On average, analysts forecast that CymaBay Therapeutics Inc will post ($0.83) earnings per share for the current fiscal year.
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A number of brokerages have recently issued reports on CBAY. Zacks Investment Research lowered CymaBay Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, April 3rd. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price (up from $6.00) on shares of CymaBay Therapeutics in a research report on Monday, March 27th. Finally, Piper Jaffray Companies lifted their target price on CymaBay Therapeutics from $5.00 to $6.50 and gave the stock an “overweight” rating in a research report on Friday, March 24th.
CymaBay Therapeutics Company Profile
CymaBay Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing therapies to treat metabolic diseases, including serious rare and orphan diseases. The Company’s product candidates include Arhalofenate, MBX-8025 and MBX-2982. Arhalofenate is used to treat gout.
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