CymaBay Therapeutics (NASDAQ:CBAY) Hits New 52-Week High at $19.06

CymaBay Therapeutics, Inc. (NASDAQ:CBAY) shares reached a new 52-week high on Tuesday . The company traded as high as $19.06 and last traded at $18.88, with a volume of 340718 shares. The stock had previously closed at $18.66.

Wall Street Analyst Weigh In

CBAY has been the subject of a number of recent research reports. Raymond James boosted their price target on shares of CymaBay Therapeutics from $33.00 to $34.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, November 8th. BTIG Research boosted their price objective on shares of CymaBay Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 8th. HC Wainwright boosted their price objective on shares of CymaBay Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Cantor Fitzgerald boosted their price objective on shares of CymaBay Therapeutics from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, November 8th. Finally, Guggenheim initiated coverage on shares of CymaBay Therapeutics in a report on Friday, August 11th. They set a “buy” rating and a $20.00 price objective for the company. One analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.27.

CymaBay Therapeutics Price Performance

The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -20.28 and a beta of 0.29. The company’s fifty day moving average is $15.43 and its 200 day moving average is $12.58. The company has a quick ratio of 22.76, a current ratio of 22.76 and a debt-to-equity ratio of 0.32.

CymaBay Therapeutics (NASDAQ:CBAY) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). During the same quarter in the prior year, the company posted ($0.28) earnings per share. On average, equities research analysts predict that CymaBay Therapeutics, Inc. will post -0.94 EPS for the current year.

Insider Activity

In other news, CEO Sujal Shah sold 64,861 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $14.20, for a total value of $921,026.20. Following the completion of the transaction, the chief executive officer now owns 171,301 shares in the company, valued at approximately $2,432,474.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sujal Shah sold 64,861 shares of CymaBay Therapeutics stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $14.20, for a total transaction of $921,026.20. Following the completion of the transaction, the chief executive officer now owns 171,301 shares in the company, valued at $2,432,474.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Paul T. Quinlan sold 5,000 shares of CymaBay Therapeutics stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $13.76, for a total value of $68,800.00. The disclosure for this sale can be found here. Insiders sold 198,613 shares of company stock worth $3,086,453 in the last quarter. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On CymaBay Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. boosted its holdings in shares of CymaBay Therapeutics by 96.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,516 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,238 shares during the period. Great West Life Assurance Co. Can bought a new stake in shares of CymaBay Therapeutics during the first quarter worth approximately $40,000. Harbor Capital Advisors Inc. bought a new stake in shares of CymaBay Therapeutics during the second quarter worth approximately $51,000. Metropolitan Life Insurance Co NY bought a new stake in shares of CymaBay Therapeutics during the second quarter worth approximately $59,000. Finally, Royal Bank of Canada boosted its holdings in shares of CymaBay Therapeutics by 23,315.4% during the second quarter. Royal Bank of Canada now owns 6,088 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 6,062 shares during the period. Institutional investors own 95.03% of the company’s stock.

About CymaBay Therapeutics

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).