CymaBay Therapeutics (NASDAQ:CBAY) Stock Passes Below 50-Day Moving Average of $2.20

CymaBay Therapeutics, Inc. (NASDAQ:CBAYGet Rating)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $2.20 and traded as low as $2.03. CymaBay Therapeutics shares last traded at $2.40, with a volume of 1,108,630 shares trading hands.

Several equities analysts recently issued reports on the stock. HC Wainwright cut their price objective on shares of CymaBay Therapeutics from $12.00 to $10.00 and set a “na” rating on the stock in a report on Monday, May 16th. StockNews.com lowered shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of CymaBay Therapeutics in a research report on Friday, April 1st. B. Riley dropped their price objective on shares of CymaBay Therapeutics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, May 18th. Finally, Oppenheimer decreased their target price on shares of CymaBay Therapeutics to $12.00 and set a “na” rating for the company in a research report on Monday, May 16th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.80.

The company’s 50 day moving average price is $2.20 and its 200 day moving average price is $2.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 13.68 and a quick ratio of 13.68. The firm has a market cap of $203.23 million, a PE ratio of -1.80 and a beta of 1.09.

CymaBay Therapeutics (NASDAQ:CBAYGet Rating) last posted its earnings results on Thursday, May 12th. The biopharmaceutical company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). During the same period last year, the business posted ($0.25) earnings per share. Sell-side analysts expect that CymaBay Therapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

In related news, CEO Sujal Shah bought 51,301 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were acquired at an average price of $1.95 per share, with a total value of $100,036.95. Following the completion of the acquisition, the chief executive officer now owns 171,301 shares in the company, valued at approximately $334,036.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 5.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its holdings in CymaBay Therapeutics by 810.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,470 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 9,320 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in shares of CymaBay Therapeutics in the 1st quarter worth about $31,000. Citigroup Inc. grew its holdings in shares of CymaBay Therapeutics by 54.2% during the 3rd quarter. Citigroup Inc. now owns 12,024 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 4,225 shares during the period. Bailard Inc. purchased a new position in CymaBay Therapeutics in the fourth quarter valued at approximately $46,000. Finally, XTX Topco Ltd purchased a new stake in CymaBay Therapeutics during the first quarter worth approximately $53,000. 78.34% of the stock is currently owned by hedge funds and other institutional investors.

CymaBay Therapeutics Company Profile (NASDAQ:CBAY)

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 that is in phase III clinical study for the treatments of primary biliary cholangitis (PBC), as well as has completed Phase 2b clinical study to treat patients with nonalcoholic steatohepatitis.

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