CymaBay Therapeutics, Inc. (NASDAQ:CBAY) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC lifted its position in CymaBay Therapeutics, Inc. (NASDAQ:CBAY) by 12.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,992,711 shares of the biopharmaceutical company’s stock after acquiring an additional 437,437 shares during the quarter. Jennison Associates LLC owned 3.52% of CymaBay Therapeutics worth $94,308,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of CymaBay Therapeutics by 1.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,669 shares of the biopharmaceutical company’s stock worth $1,150,000 after purchasing an additional 525 shares during the period. Alps Advisors Inc. boosted its holdings in shares of CymaBay Therapeutics by 1.1% during the third quarter. Alps Advisors Inc. now owns 72,461 shares of the biopharmaceutical company’s stock valued at $1,080,000 after acquiring an additional 783 shares during the period. Strategic Blueprint LLC boosted its holdings in shares of CymaBay Therapeutics by 6.3% during the third quarter. Strategic Blueprint LLC now owns 16,800 shares of the biopharmaceutical company’s stock valued at $250,000 after acquiring an additional 1,000 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of CymaBay Therapeutics by 96.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,516 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,238 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of CymaBay Therapeutics by 8.4% in the 3rd quarter. Arizona State Retirement System now owns 22,212 shares of the biopharmaceutical company’s stock worth $331,000 after acquiring an additional 1,716 shares during the period. 95.03% of the stock is currently owned by institutional investors.

CymaBay Therapeutics Stock Performance

Shares of NASDAQ CBAY opened at $32.48 on Tuesday. CymaBay Therapeutics, Inc. has a one year low of $7.26 and a one year high of $32.50. The business has a 50-day moving average price of $32.38 and a two-hundred day moving average price of $24.44. The firm has a market capitalization of $3.73 billion, a PE ratio of -33.48 and a beta of 0.32.

CymaBay Therapeutics (NASDAQ:CBAY) last announced its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The company had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.42 million. Research analysts anticipate that CymaBay Therapeutics, Inc. will post -1.38 EPS for the current year.

Wall Street Analysts Forecast Growth

CBAY has been the subject of several recent analyst reports. UBS Group restated a “neutral” rating and issued a $32.50 target price (up previously from $25.00) on shares of CymaBay Therapeutics in a research report on Wednesday, February 14th. Lifesci Capital downgraded shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. BTIG Research reissued a “neutral” rating on shares of CymaBay Therapeutics in a research note on Tuesday, February 13th. SVB Leerink reiterated a “market perform” rating and issued a $32.50 price objective on shares of CymaBay Therapeutics in a report on Tuesday, February 20th. Finally, Cantor Fitzgerald cut CymaBay Therapeutics from an “overweight” rating to a “neutral” rating and set a $32.50 target price on the stock. in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, CymaBay Therapeutics has a consensus rating of “Hold” and an average target price of $28.65.

Insider Activity

In related news, Director Janet Dorling sold 6,000 shares of CymaBay Therapeutics stock in a transaction on Monday, February 12th. The stock was sold at an average price of $31.97, for a total transaction of $191,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.00% of the stock is currently owned by corporate insiders.

CymaBay Therapeutics Profile

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).