CymaBay Therapeutics (NASDAQ:CBAY) Shares Gap Down to $17.62

CymaBay Therapeutics, Inc. (NASDAQ:CBAY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $17.62, but opened at $17.10. CymaBay Therapeutics shares last traded at $17.45, with a volume of 150,602 shares trading hands.

Analyst Ratings Changes

CBAY has been the subject of several recent analyst reports. B. Riley upped their price objective on shares of CymaBay Therapeutics from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, September 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price target on shares of CymaBay Therapeutics in a research note on Thursday, August 31st. StockNews.com raised shares of CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. UBS Group started coverage on shares of CymaBay Therapeutics in a research note on Monday, August 14th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Jonestrading increased their price target on shares of CymaBay Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $19.18.

CymaBay Therapeutics Trading Down 2.3 %

The stock’s fifty day moving average price is $12.75 and its 200 day moving average price is $10.45. The company has a quick ratio of 12.52, a current ratio of 12.52 and a debt-to-equity ratio of 0.92. The stock has a market cap of $1.69 billion, a PE ratio of -20.02 and a beta of 0.35.

CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.20. The firm had revenue of $31.02 million for the quarter, compared to analysts’ expectations of $30.78 million. On average, sell-side analysts forecast that CymaBay Therapeutics, Inc. will post -0.94 EPS for the current year.

Insider Activity

In related news, General Counsel Paul T. Quinlan sold 5,000 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $10.05, for a total transaction of $50,250.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel Paul T. Quinlan sold 5,000 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $10.05, for a total transaction of $50,250.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charles Mcwherter sold 21,746 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $11.47, for a total transaction of $249,426.62. Following the transaction, the insider now owns 15,000 shares in the company, valued at approximately $172,050. The disclosure for this sale can be found here. Insiders have sold a total of 101,189 shares of company stock worth $1,103,010 over the last 90 days. 7.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System bought a new position in CymaBay Therapeutics in the first quarter worth approximately $214,000. Mirabella Financial Services LLP raised its position in CymaBay Therapeutics by 133.9% in the first quarter. Mirabella Financial Services LLP now owns 58,180 shares of the biopharmaceutical company’s stock worth $507,000 after acquiring an additional 33,307 shares during the period. Dorsey Wright & Associates bought a new position in CymaBay Therapeutics in the fourth quarter worth approximately $39,000. Chartwell Investment Partners LLC bought a new position in CymaBay Therapeutics in the first quarter worth approximately $406,000. Finally, California State Teachers Retirement System bought a new position in CymaBay Therapeutics in the first quarter worth approximately $649,000. Institutional investors own 95.03% of the company’s stock.

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 autoimmune liver disease, primary biliary cholangitis (PBC).