CymaBay Therapeutics (NASDAQ:CBAY) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a research report sent to investors on Saturday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on CBAY. HC Wainwright reaffirmed a neutral rating and issued a $32.50 price objective on shares of CymaBay Therapeutics in a research note on Thursday, February 29th. Cantor Fitzgerald cut shares of CymaBay Therapeutics from an overweight rating to a neutral rating and set a $32.50 price target for the company. in a research report on Tuesday, February 13th. Piper Sandler reiterated a neutral rating and set a $32.50 price objective (down from $33.00) on shares of CymaBay Therapeutics in a research note on Wednesday, February 14th. Lifesci Capital downgraded shares of CymaBay Therapeutics from an outperform rating to a market perform rating in a research note on Wednesday, February 14th. Finally, B. Riley reaffirmed a neutral rating and set a $32.50 target price (up previously from $29.00) on shares of CymaBay Therapeutics in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $28.65.

CymaBay Therapeutics Stock Performance

Shares of NASDAQ CBAY opened at $32.48 on Friday. CymaBay Therapeutics has a 52-week low of $7.26 and a 52-week high of $32.50. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -33.48 and a beta of 0.32. The stock has a 50 day moving average price of $32.42 and a 200 day moving average price of $25.23.

CymaBay Therapeutics (NASDAQ:CBAY) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The business had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.42 million. Analysts forecast that CymaBay Therapeutics will post -1.38 earnings per share for the current year.

Insider Transactions at CymaBay Therapeutics

In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $31.97, for a total value of $191,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CBAY. Harvest Fund Management Co. Ltd acquired a new stake in shares of CymaBay Therapeutics during the fourth quarter worth $26,000. China Universal Asset Management Co. Ltd. grew its stake in CymaBay Therapeutics by 96.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,516 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,238 shares during the last quarter. AJOVista LLC purchased a new stake in CymaBay Therapeutics during the 4th quarter valued at about $42,000. Wetzel Investment Advisors Inc. acquired a new position in shares of CymaBay Therapeutics in the fourth quarter valued at about $71,000. Finally, Tucker Asset Management LLC purchased a new position in shares of CymaBay Therapeutics in the fourth quarter worth about $89,000. Institutional investors and hedge funds own 95.03% of the company’s stock.

CymaBay Therapeutics Company 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).