CymaBay Therapeutics (NASDAQ:CBAY) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a report released on Wednesday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Several other research analysts have also commented on CBAY. Piper Sandler reaffirmed a neutral rating and issued a $32.50 price target (down from $33.00) on shares of CymaBay Therapeutics in a report on Wednesday, February 14th. Lifesci Capital lowered shares of CymaBay Therapeutics from an outperform rating to a market perform rating in a report on Wednesday, February 14th. HC Wainwright reaffirmed a neutral rating and issued a $32.50 price target on shares of CymaBay Therapeutics in a report on Thursday, February 29th. Raymond James lowered shares of CymaBay Therapeutics from an outperform rating to a market perform rating and set a $32.50 price target for the company. in a report on Tuesday, February 13th. Finally, Cantor Fitzgerald lowered shares of CymaBay Therapeutics from an overweight rating to a neutral rating and set a $32.50 target price for the company. in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $28.65.

CymaBay Therapeutics Price Performance

Shares of CBAY stock opened at $32.48 on Wednesday. The firm has a market cap of $3.73 billion, a P/E ratio of -33.48 and a beta of 0.32. CymaBay Therapeutics has a 1-year low of $7.26 and a 1-year high of $32.50. The firm has a fifty day moving average of $30.72 and a two-hundred day moving average of $23.00.

CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.42 million. On average, sell-side analysts expect that CymaBay Therapeutics will post -1.38 EPS for the current year.

Insiders Place Their Bets

In other CymaBay Therapeutics news, General Counsel Paul T. Quinlan sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $23.58, for a total transaction of $117,900.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Paul T. Quinlan sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $23.58, for a total value of $117,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Janet Dorling sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $31.97, for a total transaction of $191,820.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,403 shares of company stock worth $1,124,279. 7.00% of the stock is owned by corporate insiders.

Institutional Trading of CymaBay Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. New York State Common Retirement Fund raised its holdings in shares of CymaBay Therapeutics by 39.9% in the 3rd quarter. New York State Common Retirement Fund now owns 64,404 shares of the biopharmaceutical company’s stock worth $960,000 after purchasing an additional 18,381 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of CymaBay Therapeutics in the fourth quarter worth approximately $17,629,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of CymaBay Therapeutics in the third quarter worth approximately $12,073,000. Emerald Advisers LLC purchased a new position in shares of CymaBay Therapeutics in the third quarter worth approximately $14,668,000. Finally, Jennison Associates LLC increased its position in shares of CymaBay Therapeutics by 112.7% in the third quarter. Jennison Associates LLC now owns 3,555,274 shares of the biopharmaceutical company’s stock worth $53,009,000 after acquiring an additional 1,883,742 shares in the last quarter. 95.03% of the stock is currently owned by 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).