CymaBay Therapeutics (CBAY) Shares Up 6%

CymaBay Therapeutics Inc (NASDAQ:CBAY) shares shot up 6% during trading on Wednesday . The company traded as high as $10.65 and last traded at $10.55. 682,485 shares traded hands during trading, a decline of 19% from the average session volume of 846,678 shares. The stock had previously closed at $9.95.

A number of brokerages have commented on CBAY. BidaskClub upgraded shares of CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Zacks Investment Research cut shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Oppenheimer set a $20.00 price target on shares of CymaBay Therapeutics and gave the stock a “buy” rating in a research note on Friday, October 5th. Piper Jaffray Companies raised their price target on shares of CymaBay Therapeutics to $30.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $16.00 price target on shares of CymaBay Therapeutics in a research note on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. CymaBay Therapeutics has a consensus rating of “Buy” and a consensus price target of $21.88.

The company has a market cap of $600.57 million, a PE ratio of -13.35 and a beta of 2.00.

CymaBay Therapeutics (NASDAQ:CBAY) last posted its earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). As a group, research analysts anticipate that CymaBay Therapeutics Inc will post -1.19 earnings per share for the current year.

In other news, VP Daniel Menold sold 5,000 shares of CymaBay Therapeutics stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $13.00, for a total value of $65,000.00. Following the completion of the transaction, the vice president now owns 5,000 shares in the company, valued at $65,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.50% of the company’s stock.

Several large investors have recently bought and sold shares of CBAY. LVM Capital Management Ltd. MI raised its position in CymaBay Therapeutics by 23.8% in the 2nd quarter. LVM Capital Management Ltd. MI now owns 26,000 shares of the biopharmaceutical company’s stock worth $349,000 after purchasing an additional 5,000 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in CymaBay Therapeutics by 63.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 20,365 shares of the biopharmaceutical company’s stock worth $265,000 after purchasing an additional 7,900 shares during the last quarter. Allianz Asset Management GmbH raised its position in CymaBay Therapeutics by 6.7% in the 1st quarter. Allianz Asset Management GmbH now owns 126,958 shares of the biopharmaceutical company’s stock worth $1,649,000 after purchasing an additional 7,949 shares during the last quarter. Millennium Management LLC raised its position in CymaBay Therapeutics by 0.7% in the 2nd quarter. Millennium Management LLC now owns 1,168,632 shares of the biopharmaceutical company’s stock worth $15,683,000 after purchasing an additional 8,357 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in CymaBay Therapeutics in the 2nd quarter worth approximately $134,000. Institutional investors own 95.52% of the company’s stock.

CymaBay Therapeutics Company Profile (NASDAQ:CBAY)

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, a selective agonist of peroxisome proliferator-activated receptor delta, which has completed Phase II clinical study for the treatment of primary biliary cholangitis, as well as patients with nonalcoholic steatohepatitis.

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