Shares of CymaBay Therapeutics Inc. (NASDAQ:CBAY) have received an average rating of “Buy” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $13.71.
Several analysts have commented on CBAY shares. Ifs Securities restated a “strong-buy” rating on shares of CymaBay Therapeutics in a report on Monday, July 17th. Citigroup Inc. reiterated an “outperform” rating and set a $15.00 target price (up from $8.00) on shares of CymaBay Therapeutics in a report on Thursday, July 20th. Oppenheimer Holdings, Inc. lifted their target price on shares of CymaBay Therapeutics from $8.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, July 20th. Zacks Investment Research lowered shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Finally, ValuEngine upgraded shares of CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd.
Shares of CymaBay Therapeutics (CBAY) traded up 5.38% during mid-day trading on Friday, reaching $6.27. The company’s stock had a trading volume of 773,318 shares. CymaBay Therapeutics has a 12 month low of $1.15 and a 12 month high of $8.29. The company has a 50-day moving average of $6.73 and a 200-day moving average of $4.97. The company’s market cap is $274.35 million.
CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings data on Thursday, August 10th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.06. Equities research analysts forecast that CymaBay Therapeutics will post ($0.81) earnings per share for the current fiscal year.
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In other news, insider Sujal Shah acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was bought at an average cost of $7.34 per share, for a total transaction of $73,400.00. Following the acquisition, the insider now directly owns 75,891 shares in the company, valued at $557,039.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Charles Mcwherter acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was purchased at an average price of $7.43 per share, with a total value of $37,150.00. Following the completion of the acquisition, the senior vice president now owns 5,100 shares in the company, valued at $37,893. The disclosure for this purchase can be found here. Insiders have bought 20,000 shares of company stock valued at $144,750 over the last quarter. Company insiders own 15.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in CymaBay Therapeutics by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,344 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 140 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in CymaBay Therapeutics in the 1st quarter worth approximately $105,000. LVM Capital Management Ltd. MI raised its holdings in CymaBay Therapeutics by 100.0% in the 2nd quarter. LVM Capital Management Ltd. MI now owns 20,000 shares of the biopharmaceutical company’s stock worth $115,000 after acquiring an additional 10,000 shares during the last quarter. Acadian Asset Management LLC purchased a new position in CymaBay Therapeutics in the 1st quarter worth approximately $129,000. Finally, TFS Capital LLC purchased a new position in CymaBay Therapeutics in the 1st quarter worth approximately $169,000. Institutional investors own 25.80% of the company’s stock.
CymaBay Therapeutics Company Profile
CymaBay Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing therapies to treat metabolic diseases, including serious rare and orphan diseases. The Company’s product candidates include Arhalofenate, MBX-8025 and MBX-2982. Arhalofenate is used to treat gout.
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