Jennison Associates LLC Increases Holdings in CymaBay Therapeutics, Inc. (NASDAQ:CBAY)

Jennison Associates LLC lifted its holdings in shares of CymaBay Therapeutics, Inc. (NASDAQ:CBAY) by 12.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,992,711 shares of the biopharmaceutical company’s stock after buying an additional 437,437 shares during the quarter. Jennison Associates LLC’s holdings in CymaBay Therapeutics were worth $94,308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CBAY. Wetzel Investment Advisors Inc. purchased a new stake in CymaBay Therapeutics during the 4th quarter valued at about $71,000. Calamos Advisors LLC purchased a new position in shares of CymaBay Therapeutics in the fourth quarter worth $1,342,000. Clarius Group LLC bought a new stake in CymaBay Therapeutics during the 4th quarter valued at $211,000. Allspring Global Investments Holdings LLC purchased a new stake in CymaBay Therapeutics during the 4th quarter valued at $1,890,000. Finally, International Assets Investment Management LLC purchased a new stake in CymaBay Therapeutics during the 4th quarter valued at $3,149,000. Institutional investors own 95.03% of the company’s stock.

CymaBay Therapeutics Price Performance

CBAY stock opened at $32.48 on Tuesday. CymaBay Therapeutics, Inc. has a 1-year low of $7.26 and a 1-year high of $32.50. The stock has a market capitalization of $3.73 billion, a P/E ratio of -33.48 and a beta of 0.32. The business has a fifty day moving average price of $32.38 and a 200-day moving average price of $24.44.

CymaBay Therapeutics (NASDAQ:CBAY) last announced its quarterly earnings results 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 firm had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.42 million. As a group, analysts anticipate that CymaBay Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CBAY shares. BTIG Research reiterated a “neutral” rating on shares of CymaBay Therapeutics in a research report on Tuesday, February 13th. Piper Sandler restated a “neutral” rating and set a $32.50 price target (down from $33.00) on shares of CymaBay Therapeutics in a research report on Wednesday, February 14th. Raymond James cut CymaBay Therapeutics from an “outperform” rating to a “market perform” rating and set a $32.50 price target on the stock. in a research note on Tuesday, February 13th. StockNews.com assumed coverage on shares of CymaBay Therapeutics in a report on Friday. They set a “sell” rating on the stock. Finally, Jonestrading reaffirmed a “hold” rating on shares of CymaBay Therapeutics in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.65.

Insider Transactions at CymaBay Therapeutics

In related news, Director Janet Dorling sold 6,000 shares of the company’s 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 the SEC website. Company insiders own 7.00% of the company’s stock.

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).