CymaBay Therapeutics (CBAY) Sees Large Volume Increase

CymaBay Therapeutics Inc (NASDAQ:CBAY) shares saw unusually-strong trading volume on Wednesday . Approximately 2,620,100 shares traded hands during mid-day trading, an increase of 167% from the previous session’s volume of 981,873 shares.The stock last traded at $13.50 and had previously closed at $13.50.

A number of equities analysts have commented on CBAY shares. Piper Jaffray Companies restated a “buy” rating and issued a $12.00 price target on shares of CymaBay Therapeutics in a research report on Friday, October 27th. Oppenheimer set a $15.00 price target on shares of CymaBay Therapeutics and gave the company a “buy” rating in a research report on Wednesday, January 10th. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of CymaBay Therapeutics in a research report on Tuesday, November 28th. Zacks Investment Research lowered shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 16th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $16.00 target price on shares of CymaBay Therapeutics in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. CymaBay Therapeutics has an average rating of “Buy” and an average target price of $16.56.

The company has a market capitalization of $592.17, a PE ratio of -13.77 and a beta of 2.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.39 and a quick ratio of 7.39.

In related news, Director Kurt Von Emster bought 153,846 shares of CymaBay Therapeutics stock in a transaction dated Thursday, July 19th. The shares were bought at an average cost of $6.50 per share, for a total transaction of $999,999.00. Following the completion of the transaction, the director now owns 90,000 shares of the company’s stock, valued at $585,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 746,730 shares of company stock worth $8,089,910 over the last quarter. 15.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CBAY. Perceptive Advisors LLC bought a new stake in shares of CymaBay Therapeutics during the third quarter worth approximately $18,948,000. Farallon Capital Management LLC bought a new stake in CymaBay Therapeutics in the fourth quarter valued at approximately $10,120,000. Citadel Advisors LLC bought a new stake in CymaBay Therapeutics in the third quarter valued at approximately $5,159,000. EAM Investors LLC bought a new stake in CymaBay Therapeutics in the third quarter valued at approximately $4,788,000. Finally, UBS Asset Management Americas Inc. bought a new stake in CymaBay Therapeutics in the fourth quarter valued at approximately $5,423,000. 54.80% of the stock is owned by institutional investors and hedge funds.

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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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