Raymond James & Associates Grows Stock Position in CymaBay Therapeutics, Inc. (NASDAQ:CBAY)

Raymond James & Associates grew its holdings in CymaBay Therapeutics, Inc. (NASDAQ:CBAY) by 45.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,286 shares of the biopharmaceutical company’s stock after purchasing an additional 17,771 shares during the period. Raymond James & Associates owned about 0.05% of CymaBay Therapeutics worth $1,353,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its stake in 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 worth $38,000 after purchasing an additional 1,238 shares during the period. Great West Life Assurance Co. Can purchased a new stake in CymaBay Therapeutics in the first quarter worth $40,000. Royal Bank of Canada increased its stake in CymaBay Therapeutics by 23,315.4% in the second quarter. Royal Bank of Canada now owns 6,088 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 6,062 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in CymaBay Therapeutics in the second quarter worth $89,000. Finally, Rafferty Asset Management LLC purchased a new stake in CymaBay Therapeutics in the third quarter worth $155,000. Hedge funds and other institutional investors own 95.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CBAY shares. Jonestrading reiterated a “hold” rating on shares of CymaBay Therapeutics in a research note on Tuesday, February 13th. UBS Group reissued a “neutral” rating and set a $32.50 target price (up previously from $25.00) on shares of CymaBay Therapeutics in a research report on Wednesday, February 14th. SVB Leerink restated a “market perform” rating and issued a $32.50 price target on shares of CymaBay Therapeutics in a report on Tuesday, February 20th. William Blair lowered shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Finally, Lifesci Capital lowered shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.65.

CymaBay Therapeutics Stock Performance

NASDAQ:CBAY opened at $32.48 on Friday. The company has a market cap of $3.73 billion, a PE ratio of -33.48 and a beta of 0.32. CymaBay Therapeutics, Inc. has a twelve month low of $7.26 and a twelve month high of $32.50. The company’s 50 day moving average is $32.24 and its two-hundred day moving average is $24.04.

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

Insiders Place Their Bets

In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of the business’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 transaction of $191,820.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 7.00% of the stock is owned by insiders.

CymaBay Therapeutics Company Profile

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).