CymaBay Therapeutics (NASDAQ:CBAY) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com started coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a research report issued on Friday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

CBAY has been the subject of several other research reports. William Blair cut CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Cantor Fitzgerald cut CymaBay Therapeutics from an “overweight” rating to a “neutral” rating and set a $32.50 target price for the company. in a report on Tuesday, February 13th. Jonestrading reiterated a “hold” rating on shares of CymaBay Therapeutics in a report on Tuesday, February 13th. Piper Sandler reiterated 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. Finally, Raymond James cut CymaBay Therapeutics from an “outperform” rating to a “market perform” rating and set a $32.50 target price for the company. in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.65.

CymaBay Therapeutics Price Performance

NASDAQ CBAY opened at $32.48 on Friday. The stock has a market capitalization of $3.73 billion, a PE ratio of -33.48 and a beta of 0.32. The business has a 50 day simple moving average of $32.37 and a two-hundred day simple moving average of $24.17. CymaBay Therapeutics has a 1-year low of $7.26 and a 1-year high of $32.50.

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

Insider Buying and Selling

In related news, Director Janet Dorling sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $31.97, for a total transaction of $191,820.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CymaBay Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new stake in CymaBay Therapeutics during the 4th quarter valued at $26,000. AJOVista LLC bought a new stake in CymaBay Therapeutics during the 4th quarter valued at $42,000. China Universal Asset Management Co. Ltd. raised its position in CymaBay Therapeutics by 96.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,516 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,238 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in CymaBay Therapeutics during the 4th quarter valued at $71,000. Finally, Tucker Asset Management LLC bought a new stake in CymaBay Therapeutics during the 4th quarter valued at $89,000. 95.03% of the stock is owned by institutional investors.

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 primary biliary cholangitis (PBC).