CymaBay Therapeutics Inc. (NASDAQ:CBAY) was the recipient of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 545,881 shares, a decrease of 28.7% from the May 15th total of 765,237 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average trading volume of 298,164 shares, the short-interest ratio is currently 1.8 days.
Several equities research analysts have issued reports on CBAY shares. Piper Jaffray Companies increased 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. HC Wainwright restated a “buy” rating and set a $7.00 target price (up previously from $6.00) on shares of CymaBay Therapeutics in a research report on Monday, March 27th. Zacks Investment Research downgraded CymaBay Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, April 3rd. Finally, ValuEngine upgraded CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $5.25.
Shares of CymaBay Therapeutics (NASDAQ CBAY) opened at 5.09 on Wednesday. The firm’s 50 day moving average price is $4.21 and its 200 day moving average price is $3.21. CymaBay Therapeutics has a 52-week low of $1.15 and a 52-week high of $5.33. The stock’s market cap is $146.35 million.
CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings data on Thursday, May 11th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.07. The business had revenue of $4.79 million for the quarter. On average, analysts expect that CymaBay Therapeutics will post ($0.86) EPS for the current year.
Several large investors have recently modified their holdings of the stock. J. Goldman & Co LP acquired a new stake in shares of CymaBay Therapeutics during the fourth quarter worth about $571,000. Acadian Asset Management LLC acquired a new stake in shares of CymaBay Therapeutics during the first quarter worth about $129,000. TFS Capital LLC acquired a new stake in shares of CymaBay Therapeutics during the first quarter worth about $169,000. ClariVest Asset Management LLC acquired a new stake in shares of CymaBay Therapeutics during the first quarter worth about $105,000. Finally, Vanguard Group Inc. increased its stake in shares of CymaBay Therapeutics by 55.7% in the first quarter. Vanguard Group Inc. now owns 821,507 shares of the biopharmaceutical company’s stock worth $3,532,000 after buying an additional 293,823 shares during the last quarter. 36.87% of the stock is owned by hedge funds and other institutional investors.
About CymaBay Therapeutics
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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