Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in CymaBay Therapeutics, Inc. (NASDAQ:CBAY)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CymaBay Therapeutics, Inc. (NASDAQ:CBAY) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,669 shares of the biopharmaceutical company’s stock after acquiring an additional 525 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CymaBay Therapeutics were worth $1,150,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its stake 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 worth $38,000 after purchasing an additional 1,238 shares during the period. Rafferty Asset Management LLC purchased a new stake in shares of CymaBay Therapeutics during the third quarter worth approximately $155,000. J.P. Morgan Private Wealth Advisors LLC purchased a new position in CymaBay Therapeutics in the 3rd quarter valued at $158,000. Orion Portfolio Solutions LLC purchased a new position in CymaBay Therapeutics during the 3rd quarter worth $229,000. Finally, SG Americas Securities LLC purchased a new stake in shares of CymaBay Therapeutics in the third quarter valued at about $230,000. 95.03% of the stock is currently owned by hedge funds and other institutional investors.

CymaBay Therapeutics Stock Performance

NASDAQ:CBAY opened at $32.48 on Tuesday. CymaBay Therapeutics, Inc. has a 12-month low of $7.26 and a 12-month high of $32.50. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of -33.48 and a beta of 0.32. The company’s 50-day moving average is $32.38 and its two-hundred day moving average is $24.44.

CymaBay Therapeutics (NASDAQ:CBAY) last released its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the consensus estimate 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, equities research analysts forecast that CymaBay Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CBAY. HC Wainwright reaffirmed a “neutral” rating and issued a $32.50 price objective on shares of CymaBay Therapeutics in a report on Thursday, February 29th. Piper Sandler reiterated a “neutral” rating and set a $32.50 price target (down from $33.00) on shares of CymaBay Therapeutics in a research report on Wednesday, February 14th. UBS Group restated a “neutral” rating and issued a $32.50 price target (up previously from $25.00) on shares of CymaBay Therapeutics in a report on Wednesday, February 14th. Raymond James downgraded CymaBay Therapeutics from an “outperform” rating to a “market perform” rating and set a $32.50 target price on the stock. in a research report on Tuesday, February 13th. Finally, StockNews.com started coverage on CymaBay Therapeutics in a research report on Friday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.65.

Insiders Place Their Bets

In other news, Director Janet Dorling sold 6,000 shares of the stock in a transaction dated Monday, February 12th. The shares were 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 SEC, which is available through this hyperlink. 7.00% of the stock is owned by corporate insiders.

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).