CymaBay Therapeutics, Inc. (NASDAQ:CBAY – Get Rating)’s share price hit a new 52-week high during trading on Tuesday after Oppenheimer raised their price target on the stock from $10.00 to $12.00. Oppenheimer currently has an outperform rating on the stock. CymaBay Therapeutics traded as high as $9.12 and last traded at $8.93, with a volume of 428735 shares trading hands. The stock had previously closed at $8.69.
Several other research firms also recently issued reports on CBAY. Piper Sandler boosted their price objective on CymaBay Therapeutics from $12.00 to $19.00 and gave the company an “overweight” rating in a report on Sunday, January 29th. Raymond James boosted their price objective on CymaBay Therapeutics from $14.00 to $17.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 17th. Cantor Fitzgerald upped their price target on CymaBay Therapeutics from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday, January 31st. Finally, SVB Leerink upped their price target on CymaBay Therapeutics from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $13.00.
Institutional Investors Weigh In On CymaBay Therapeutics
Several hedge funds have recently made changes to their positions in the business. Saturn V Capital Management LLC acquired a new position in CymaBay Therapeutics in the fourth quarter valued at $5,718,000. Laurion Capital Management LP acquired a new position in CymaBay Therapeutics in the second quarter valued at $4,647,000. Nantahala Capital Management LLC boosted its holdings in CymaBay Therapeutics by 39.6% in the second quarter. Nantahala Capital Management LLC now owns 2,644,306 shares of the biopharmaceutical company’s stock valued at $7,801,000 after acquiring an additional 750,309 shares during the last quarter. Millennium Management LLC boosted its holdings in CymaBay Therapeutics by 27.1% in the second quarter. Millennium Management LLC now owns 3,015,496 shares of the biopharmaceutical company’s stock valued at $8,896,000 after acquiring an additional 642,796 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in CymaBay Therapeutics in the third quarter valued at $2,087,000. Institutional investors and hedge funds own 73.54% of the company’s stock.
CymaBay Therapeutics Stock Up 1.0 %
About CymaBay Therapeutics
CymaBay Therapeutics, Inc engages in the provision and development of access to therapies for patients with liver and other chronic diseases with high unmet medical needs. Its products pipeline includes Seladelpar, MBX-2982, CB-0406, and CB-001. The company was founded on October 5, 1988 and is headquartered in Newark, CA.
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