CymaBay Therapeutics (NASDAQ:CBAY) Receives New Coverage from Analysts at StockNews.com

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

CBAY has been the topic of several other reports. Piper Sandler reissued a neutral rating and issued a $32.50 price objective (down from $33.00) on shares of CymaBay Therapeutics in a research report on Wednesday, February 14th. Jonestrading reissued a hold rating on shares of CymaBay Therapeutics in a research report on Tuesday, February 13th. SVB Leerink reissued a market perform rating and issued a $32.50 price objective on shares of CymaBay Therapeutics in a research report on Tuesday, February 20th. Raymond James lowered CymaBay Therapeutics from an outperform rating to a market perform rating and set a $32.50 price objective on the stock. in a research report on Tuesday, February 13th. Finally, William Blair lowered CymaBay Therapeutics from an outperform rating to a market perform rating in a research report on Monday, February 12th. One investment 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $28.65.

CymaBay Therapeutics Stock Performance

Shares of CymaBay Therapeutics stock opened at $32.48 on Friday. CymaBay Therapeutics has a twelve month low of $7.26 and a twelve month high of $32.50. The stock has a market capitalization of $3.73 billion, a P/E ratio of -33.48 and a beta of 0.32. The business’s fifty day moving average price is $32.24 and its 200 day moving average price is $24.04.

CymaBay Therapeutics (NASDAQ:CBAY) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The company had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.42 million. As a group, sell-side analysts predict that CymaBay Therapeutics will post -1.38 EPS for the current year.

Insider Activity at CymaBay Therapeutics

In related news, Director Janet Dorling sold 6,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was 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 through this link. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CymaBay Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Avoro Capital Advisors LLC grew its holdings in shares of CymaBay Therapeutics by 7.9% during the fourth quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biopharmaceutical company’s stock valued at $262,444,000 after purchasing an additional 811,111 shares during the last quarter. BlackRock Inc. grew its holdings in shares of CymaBay Therapeutics by 183.2% during the second quarter. BlackRock Inc. now owns 7,504,670 shares of the biopharmaceutical company’s stock valued at $82,176,000 after purchasing an additional 4,854,593 shares during the last quarter. RA Capital Management L.P. bought a new position in shares of CymaBay Therapeutics during the third quarter valued at approximately $103,475,000. Vanguard Group Inc. grew its holdings in shares of CymaBay Therapeutics by 9.7% during the fourth quarter. Vanguard Group Inc. now owns 6,306,149 shares of the biopharmaceutical company’s stock valued at $148,951,000 after purchasing an additional 558,562 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of CymaBay Therapeutics by 134.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,465,161 shares of the biopharmaceutical company’s stock valued at $105,468,000 after purchasing an additional 2,561,460 shares during the last quarter. 95.03% of the stock is 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).