CymaBay Therapeutics, Inc. (NASDAQ:CBAY) Receives Average Recommendation of “Hold” from Brokerages

CymaBay Therapeutics, Inc. (NASDAQ:CBAY) has been assigned a consensus rating of “Hold” from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $28.65.

Several equities research analysts have recently issued reports on the company. UBS Group restated a “neutral” rating and set a $32.50 price objective (up previously from $25.00) on shares of CymaBay Therapeutics in a report on Wednesday, February 14th. Lifesci Capital cut CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Jonestrading reiterated a “hold” rating on shares of CymaBay Therapeutics in a report on Tuesday, February 13th. BTIG Research reiterated a “neutral” rating on shares of CymaBay Therapeutics in a report on Tuesday, February 13th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $32.50 target price (down previously from $33.00) on shares of CymaBay Therapeutics in a report on Wednesday, February 14th.

CymaBay Therapeutics Price Performance

CBAY stock opened at $32.48 on Thursday. CymaBay Therapeutics has a 52-week low of $7.26 and a 52-week high of $32.50. The stock’s fifty day simple moving average is $31.75 and its 200-day simple moving average is $23.80. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -33.48 and a beta of 0.32.

CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.42 million. As a group, analysts anticipate that CymaBay Therapeutics will post -1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $31.97, for a total transaction of $191,820.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Janet Dorling sold 6,000 shares of CymaBay Therapeutics stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $31.97, for a total transaction of $191,820.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charles Mcwherter sold 18,403 shares of CymaBay Therapeutics stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $23.67, for a total value of $435,599.01. Following the sale, the insider now directly owns 15,000 shares in the company, valued at $355,050. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

Institutional Trading of CymaBay Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. New York State Common Retirement Fund increased its position in shares of CymaBay Therapeutics by 39.9% during the third quarter. New York State Common Retirement Fund now owns 64,404 shares of the biopharmaceutical company’s stock worth $960,000 after acquiring an additional 18,381 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in CymaBay Therapeutics in the fourth quarter valued at about $17,629,000. Vanguard Group Inc. increased its holdings in CymaBay Therapeutics by 11.6% in the third quarter. Vanguard Group Inc. now owns 5,747,587 shares of the biopharmaceutical company’s stock valued at $85,697,000 after buying an additional 598,707 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in CymaBay Therapeutics in the third quarter valued at about $12,073,000. Finally, Emerald Advisers LLC bought a new stake in CymaBay Therapeutics in the third quarter valued at about $14,668,000. 95.03% of the stock is owned by hedge funds and other institutional investors.

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 (MBX-8025), a selective agonist of peroxisome proliferator activated receptor delta for the treatments of primary biliary cholangitis (PBC).