CymaBay Therapeutics (CBAY) Trading Down 5.9% After Insider Selling

CymaBay Therapeutics Inc (NASDAQ:CBAY) shares fell 5.9% on Friday following insider selling activity. The company traded as low as $12.75 and last traded at $12.01. 756,855 shares were traded during mid-day trading, a decline of 24% from the average session volume of 996,347 shares. The stock had previously closed at $12.76.

Specifically, Director Carl Goldfischer sold 15,000 shares of the stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $13.03, for a total value of $195,450.00. Following the completion of the transaction, the director now owns 9,340 shares in the company, valued at $121,700.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kurt Von Emster sold 144,216 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $10.25, for a total value of $1,478,214.00. Following the completion of the transaction, the director now owns 90,000 shares of the company’s stock, valued at approximately $922,500. The disclosure for this sale can be found here. Insiders sold 819,948 shares of company stock valued at $10,327,654 in the last quarter. 15.10% of the stock is currently owned by company insiders.

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Several research firms have issued reports on CBAY. Oppenheimer reiterated a “buy” rating on shares of CymaBay Therapeutics in a research report on Wednesday. SunTrust Banks reiterated a “buy” rating and issued a $19.00 price objective on shares of CymaBay Therapeutics in a research report on Friday, March 16th. Piper Jaffray Companies reissued a “buy” rating and issued a $16.00 target price on shares of CymaBay Therapeutics in a report on Friday, March 16th. Cantor Fitzgerald reissued a “buy” rating and issued a $16.00 target price on shares of CymaBay Therapeutics in a report on Friday, March 16th. Finally, BidaskClub lowered CymaBay Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 15th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $17.78.

The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.35 and a current ratio of 6.35. The company has a market cap of $746.48, a price-to-earnings ratio of -14.64 and a beta of 1.96.

CymaBay Therapeutics (NASDAQ:CBAY) last posted its earnings results on Thursday, March 15th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.06. The firm had revenue of $5.20 million during the quarter, compared to analyst estimates of $1.25 million. analysts expect that CymaBay Therapeutics Inc will post -0.89 EPS for the current year.

A number of institutional investors have recently bought and sold shares of CBAY. Schwab Charles Investment Management Inc. acquired a new stake in shares of CymaBay Therapeutics during the fourth quarter valued at $115,000. Goldman Sachs Group Inc. acquired a new stake in shares of CymaBay Therapeutics during the fourth quarter valued at $197,000. Virtu Financial LLC boosted its stake in shares of CymaBay Therapeutics by 56.2% during the fourth quarter. Virtu Financial LLC now owns 24,735 shares of the biopharmaceutical company’s stock valued at $228,000 after acquiring an additional 8,899 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of CymaBay Therapeutics by 82.0% during the fourth quarter. Sigma Planning Corp now owns 27,300 shares of the biopharmaceutical company’s stock valued at $251,000 after acquiring an additional 12,300 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of CymaBay Therapeutics by 7,729.2% during the fourth quarter. Wells Fargo & Company MN now owns 39,146 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 38,646 shares during the last quarter. 61.36% of the stock is currently owned by institutional investors.

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About CymaBay Therapeutics

CymaBay Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing therapies to treat metabolic diseases, including serious rare and orphan diseases. The Company’s product candidates include Arhalofenate, MBX-8025 and MBX-2982. Arhalofenate is used to treat gout.

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