StockNews.com Initiates Coverage on CymaBay Therapeutics (NASDAQ:CBAY)

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

Several other equities research analysts have also weighed in on CBAY. Cantor Fitzgerald lowered shares of CymaBay Therapeutics from an “overweight” rating to a “neutral” rating and set a $32.50 target price on the stock. in a report on Tuesday, February 13th. BTIG Research reiterated a “neutral” rating on shares of CymaBay Therapeutics in a research report on Tuesday, February 13th. William Blair downgraded shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Jonestrading reiterated a “hold” rating on shares of CymaBay Therapeutics in a research report on Tuesday, February 13th. Finally, Piper Sandler reiterated a “neutral” rating and set a $32.50 price target (down previously from $33.00) on shares of CymaBay Therapeutics in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.65.

CymaBay Therapeutics Stock Performance

CBAY opened at $32.48 on Friday. The firm’s 50-day simple moving average is $32.40 and its 200-day simple moving average is $24.96. CymaBay Therapeutics has a twelve month low of $7.26 and a twelve 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.

CymaBay Therapeutics (NASDAQ:CBAY) last posted its 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 firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.42 million. As a group, sell-side analysts anticipate that CymaBay Therapeutics will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling at CymaBay Therapeutics

In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of CymaBay Therapeutics

A number of hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of CymaBay Therapeutics by 1,833.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,179 shares of the biopharmaceutical company’s stock valued at $193,000 after acquiring an additional 7,756 shares during the period. Vanguard Group Inc. raised its position in shares of CymaBay Therapeutics by 9.7% in the 4th quarter. Vanguard Group Inc. now owns 6,306,149 shares of the biopharmaceutical company’s stock valued at $148,951,000 after acquiring an additional 558,562 shares during the period. Wellington Management Group LLP acquired a new stake in shares of CymaBay Therapeutics in the 4th quarter valued at approximately $4,790,000. Tucker Asset Management LLC acquired a new stake in shares of CymaBay Therapeutics in the 4th quarter valued at approximately $89,000. Finally, Clear Street Markets LLC acquired a new stake in shares of CymaBay Therapeutics in the 4th quarter valued at approximately $199,000. 95.03% of the stock is currently owned by institutional investors and hedge funds.

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 primary biliary cholangitis (PBC).