Assenagon Asset Management S.A. Invests $17.63 Million in CymaBay Therapeutics, Inc. (NASDAQ:CBAY)

Assenagon Asset Management S.A. purchased a new position in shares of CymaBay Therapeutics, Inc. (NASDAQ:CBAY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 746,353 shares of the biopharmaceutical company’s stock, valued at approximately $17,629,000. Assenagon Asset Management S.A. owned 0.66% of CymaBay Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. New York State Common Retirement Fund lifted its holdings in CymaBay Therapeutics by 39.9% in the third quarter. New York State Common Retirement Fund now owns 64,404 shares of the biopharmaceutical company’s stock valued at $960,000 after buying an additional 18,381 shares during the period. Emerald Advisers LLC acquired a new position in CymaBay Therapeutics in the third quarter valued at $14,668,000. Emerald Mutual Fund Advisers Trust acquired a new position in CymaBay Therapeutics in the third quarter valued at $12,073,000. Jennison Associates LLC lifted its holdings in CymaBay Therapeutics by 112.7% in the third quarter. Jennison Associates LLC now owns 3,555,274 shares of the biopharmaceutical company’s stock valued at $53,009,000 after buying an additional 1,883,742 shares during the period. Finally, Seven Eight Capital LP acquired a new position in CymaBay Therapeutics in the third quarter valued at $620,000. Institutional investors and hedge funds own 95.03% of the company’s stock.

Insider Buying and Selling at CymaBay Therapeutics

In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $31.97, for a total value of $191,820.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Daniel Menold sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $23.58, for a total transaction of $235,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Janet Dorling sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $31.97, for a total transaction of $191,820.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,403 shares of company stock worth $1,124,279 over the last three months. 7.00% of the stock is currently owned by insiders.

CymaBay Therapeutics Stock Performance

Shares of CBAY stock opened at $32.48 on Thursday. CymaBay Therapeutics, Inc. has a 52-week low of $7.26 and a 52-week high of $32.50. The company has a 50-day simple moving average of $29.45 and a two-hundred day simple moving average of $22.22. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -33.48 and a beta of 0.32.

CymaBay Therapeutics (NASDAQ:CBAY) last released its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The business had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.42 million. On average, sell-side analysts forecast that CymaBay Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on CBAY. Piper Sandler restated a “neutral” rating and issued a $32.50 target price (down previously from $33.00) on shares of CymaBay Therapeutics in a report on Wednesday, February 14th. SVB Leerink reaffirmed a “market perform” rating and issued a $32.50 price target on shares of CymaBay Therapeutics in a research note on Tuesday, February 20th. BTIG Research reaffirmed a “neutral” rating on shares of CymaBay Therapeutics in a research note on Tuesday, February 13th. HC Wainwright reaffirmed a “neutral” rating and issued a $32.50 price target on shares of CymaBay Therapeutics in a research note on Thursday, February 29th. Finally, Lifesci Capital downgraded shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.65.

CymaBay Therapeutics 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 primary biliary cholangitis (PBC).