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

Equities research analysts at StockNews.com assumed coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a note issued to investors on Sunday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently weighed in on CBAY. UBS Group reiterated a “neutral” rating and set a $32.50 price target (up from $25.00) on shares of CymaBay Therapeutics in a research report on Wednesday, February 14th. Jonestrading reaffirmed a “hold” rating on shares of CymaBay Therapeutics in a report on Tuesday, February 13th. HC Wainwright reissued a “neutral” rating and set a $32.50 price target on shares of CymaBay Therapeutics in a report on Thursday, February 29th. Raymond James cut shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating and set a $32.50 price objective for the company. in a report on Tuesday, February 13th. Finally, BTIG Research reissued a “neutral” rating on shares of CymaBay Therapeutics in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.65.

CymaBay Therapeutics Stock Performance

Shares of CymaBay Therapeutics stock opened at $32.48 on Friday. The firm’s 50 day simple moving average is $32.43 and its two-hundred day simple moving average is $25.53. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -33.48 and a beta of 0.32. CymaBay Therapeutics has a 12-month low of $7.26 and a 12-month high of $32.50.

CymaBay Therapeutics (NASDAQ:CBAY) last posted 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, sell-side analysts predict that CymaBay Therapeutics will post -1.38 EPS for the current fiscal year.

Insider Activity

In other news, Director Janet Dorling sold 6,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $31.97, for a total value of $191,820.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of CymaBay Therapeutics by 1.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,669 shares of the biopharmaceutical company’s stock valued at $1,150,000 after purchasing an additional 525 shares in the last quarter. Alps Advisors Inc. boosted its position in CymaBay Therapeutics by 1.1% in the 3rd quarter. Alps Advisors Inc. now owns 72,461 shares of the biopharmaceutical company’s stock valued at $1,080,000 after buying an additional 783 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of CymaBay Therapeutics in the fourth quarter worth $26,000. China Universal Asset Management Co. Ltd. increased its position 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. Finally, Amalgamated Bank raised its stake in shares of CymaBay Therapeutics by 9.5% in the fourth quarter. Amalgamated Bank now owns 16,279 shares of the biopharmaceutical company’s stock valued at $385,000 after acquiring an additional 1,408 shares in the last quarter. 95.03% of the stock is currently owned by hedge funds and other institutional investors.

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).