StockNews.com Upgrades CymaBay Therapeutics (NASDAQ:CBAY) to “Hold”

CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other analysts have also recently commented on the company. SVB Leerink increased their target price on CymaBay Therapeutics from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. BTIG Research assumed coverage on CymaBay Therapeutics in a report on Thursday, March 9th. They set a “buy” rating and a $15.00 target price on the stock. HC Wainwright increased their target price on CymaBay Therapeutics from $10.00 to $12.00 in a report on Friday, March 17th. Cantor Fitzgerald raised their price target on CymaBay Therapeutics from $13.00 to $15.00 in a report on Tuesday, May 16th. Finally, Oppenheimer raised their price target on CymaBay Therapeutics from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, March 7th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CymaBay Therapeutics currently has an average rating of “Buy” and a consensus price target of $14.57.

CymaBay Therapeutics Trading Down 3.8 %

Shares of NASDAQ CBAY opened at $8.76 on Tuesday. The business has a fifty day simple moving average of $9.51 and a 200 day simple moving average of $7.28. The firm has a market capitalization of $854.19 million, a price-to-earnings ratio of -7.42 and a beta of 0.27. CymaBay Therapeutics has a one year low of $1.81 and a one year high of $11.22.

CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) last released its quarterly earnings data on Thursday, March 16th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.30). During the same period last year, the business earned ($0.34) EPS. On average, research analysts anticipate that CymaBay Therapeutics will post -1.01 earnings per share for the current fiscal year.

Insider Activity at CymaBay Therapeutics

In related news, insider Dennis D. Kim sold 112,219 shares of CymaBay Therapeutics stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $9.54, for a total value of $1,070,569.26. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $190,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other CymaBay Therapeutics news, insider Charles Mcwherter sold 21,749 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $9.08, for a total transaction of $197,480.92. Following the transaction, the insider now owns 15,000 shares of the company’s stock, valued at approximately $136,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis D. Kim sold 112,219 shares of the business’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $9.54, for a total value of $1,070,569.26. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $190,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,849 shares of company stock valued at $1,390,672. 5.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in CymaBay Therapeutics by 2.7% in the 1st quarter. BlackRock Inc. now owns 5,466,209 shares of the biopharmaceutical company’s stock valued at $16,998,000 after buying an additional 142,081 shares in the last quarter. Perceptive Advisors LLC grew its holdings in CymaBay Therapeutics by 450.5% in the 1st quarter. Perceptive Advisors LLC now owns 3,903,255 shares of the biopharmaceutical company’s stock valued at $34,036,000 after buying an additional 3,194,262 shares in the last quarter. Vanguard Group Inc. grew its holdings in CymaBay Therapeutics by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,842,376 shares of the biopharmaceutical company’s stock valued at $11,950,000 after buying an additional 53,919 shares in the last quarter. Franklin Resources Inc. grew its holdings in CymaBay Therapeutics by 13,862.3% in the 1st quarter. Franklin Resources Inc. now owns 3,224,862 shares of the biopharmaceutical company’s stock valued at $28,121,000 after buying an additional 3,201,765 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in CymaBay Therapeutics by 27.1% in the 2nd quarter. Millennium Management LLC now owns 3,015,496 shares of the biopharmaceutical company’s stock valued at $8,896,000 after buying an additional 642,796 shares in the last quarter. 73.54% of the stock is owned by institutional investors and hedge funds.

About CymaBay Therapeutics

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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.