CymaBay Therapeutics (CBAY) Releases Earnings Results, Misses Estimates By $0.04 EPS

CymaBay Therapeutics (NASDAQ:CBAY) issued its earnings results on Tuesday. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.04), Morningstar.com reports.

Shares of CBAY stock traded up $0.76 on Wednesday, reaching $11.67. 863,612 shares of the company’s stock traded hands, compared to its average volume of 838,864. CymaBay Therapeutics has a 12-month low of $7.63 and a 12-month high of $15.59. The company has a market capitalization of $668.48 million, a price-to-earnings ratio of -14.77 and a beta of 1.89.

CBAY has been the topic of a number of recent research reports. Cantor Fitzgerald restated a “buy” rating and issued a $16.00 target price on shares of CymaBay Therapeutics in a report on Thursday, August 9th. BidaskClub upgraded CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Oppenheimer set a $20.00 target price on CymaBay Therapeutics and gave the stock a “buy” rating in a report on Friday, October 5th. Finally, Zacks Investment Research cut CymaBay Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, October 15th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $21.75.

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

Several hedge funds have recently modified their holdings of CBAY. Wells Fargo & Company MN grew its holdings in shares of CymaBay Therapeutics by 34.7% during the first quarter. Wells Fargo & Company MN now owns 52,723 shares of the biopharmaceutical company’s stock valued at $685,000 after buying an additional 13,577 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in CymaBay Therapeutics by 63.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 20,365 shares of the biopharmaceutical company’s stock valued at $265,000 after purchasing an additional 7,900 shares during the last quarter. Northern Trust Corp boosted its position in CymaBay Therapeutics by 33.7% during the first quarter. Northern Trust Corp now owns 113,849 shares of the biopharmaceutical company’s stock valued at $1,479,000 after purchasing an additional 28,725 shares during the last quarter. BlackRock Inc. boosted its position in CymaBay Therapeutics by 69.3% during the first quarter. BlackRock Inc. now owns 1,169,203 shares of the biopharmaceutical company’s stock valued at $15,187,000 after purchasing an additional 478,524 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in CymaBay Therapeutics during the first quarter valued at $491,000. Institutional investors and hedge funds own 95.69% of the company’s stock.

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About CymaBay Therapeutics

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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Earnings History for CymaBay Therapeutics (NASDAQ:CBAY)

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