CymaBay Therapeutics, Inc. (NASDAQ:CBAY) Given Average Rating of “Hold” by Brokerages

CymaBay Therapeutics, Inc. (NASDAQ:CBAY) has been given an average recommendation of “Hold” by the twelve research firms that are presently covering the company, MarketBeat reports. Eleven analysts have rated the stock with a hold recommendation and one has given 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.

A number of equities analysts have recently weighed in on the stock. SVB Leerink reaffirmed a “market perform” rating and issued a $32.50 price target on shares of CymaBay Therapeutics in a research note on Tuesday, February 20th. B. Riley reiterated a “neutral” rating and issued a $32.50 price objective (up from $29.00) on shares of CymaBay Therapeutics in a report on Tuesday, February 13th. Cantor Fitzgerald cut shares of CymaBay Therapeutics from an “overweight” rating to a “neutral” rating and set a $32.50 price objective for the company. in a report on Tuesday, February 13th. StockNews.com assumed coverage on shares of CymaBay Therapeutics in a report on Thursday, April 11th. They issued a “sell” rating for the company. Finally, Piper Sandler reiterated a “neutral” rating and issued a $32.50 price objective (down from $33.00) on shares of CymaBay Therapeutics in a report on Wednesday, February 14th.

Insider Buying and Selling at CymaBay Therapeutics

In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were 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 can be accessed through the SEC website. In other CymaBay Therapeutics news, Director Janet Dorling sold 6,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were 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 can be accessed through the SEC website. Also, insider Charles Mcwherter sold 18,403 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $23.67, for a total transaction of $435,599.01. Following the sale, the insider now owns 15,000 shares of the company’s stock, valued at $355,050. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On CymaBay Therapeutics

Several hedge funds have recently made changes to their positions in CBAY. Harvest Fund Management Co. Ltd bought a new stake in shares of CymaBay Therapeutics in the fourth quarter valued at about $26,000. Royal Bank of Canada lifted its stake in shares of CymaBay Therapeutics by 506.5% in the third quarter. Royal Bank of Canada now owns 7,581 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 6,331 shares during the period. Jane Street Group LLC bought a new stake in shares of CymaBay Therapeutics in the second quarter valued at about $36,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of CymaBay Therapeutics by 96.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,516 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,238 shares during the period. Finally, Great West Life Assurance Co. Can bought a new stake in shares of CymaBay Therapeutics in the first quarter valued at about $40,000. Institutional investors own 95.03% of the company’s stock.

CymaBay Therapeutics Stock Performance

NASDAQ CBAY opened at $32.48 on Thursday. CymaBay Therapeutics has a 1-year low of $7.26 and a 1-year high of $32.50. The company has a market capitalization of $3.73 billion, a PE ratio of -33.48 and a beta of 0.32. The firm’s fifty day simple moving average is $31.75 and its 200-day simple moving average is $23.80.

CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly 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 firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.42 million. As a group, analysts predict that CymaBay Therapeutics will post -1.38 EPS for the current year.

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).