National Asset Management Inc. purchased a new position in shares of CymaBay Therapeutics Inc (NASDAQ:CBAY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 22,925 shares of the biopharmaceutical company’s stock, valued at approximately $165,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its holdings in CymaBay Therapeutics by 307.3% in the first quarter. Meeder Asset Management Inc. now owns 2,839 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 2,142 shares in the last quarter. Swiss National Bank lifted its holdings in CymaBay Therapeutics by 2.1% in the second quarter. Swiss National Bank now owns 112,900 shares of the biopharmaceutical company’s stock valued at $808,000 after acquiring an additional 2,300 shares during the period. Bank of America Corp DE raised its stake in shares of CymaBay Therapeutics by 1.5% in the fourth quarter. Bank of America Corp DE now owns 164,192 shares of the biopharmaceutical company’s stock worth $1,291,000 after buying an additional 2,478 shares during the period. Marshall Wace LLP raised its stake in CymaBay Therapeutics by 17.0% during the 1st quarter. Marshall Wace LLP now owns 63,589 shares of the biopharmaceutical company’s stock valued at $844,000 after purchasing an additional 9,231 shares during the period. Finally, BNP Paribas Arbitrage SA bought a new stake in CymaBay Therapeutics during the 1st quarter valued at approximately $165,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CBAY traded up $0.03 during midday trading on Wednesday, reaching $5.53. 14,400 shares of the stock were exchanged, compared to its average volume of 568,565. The business’s 50-day moving average price is $6.09 and its 200 day moving average price is $9.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 16.20 and a quick ratio of 16.20. CymaBay Therapeutics Inc has a twelve month low of $4.82 and a twelve month high of $14.00. The company has a market capitalization of $379.92 million, a price-to-earnings ratio of -4.39 and a beta of 1.20.
A number of equities analysts have recently commented on CBAY shares. ValuEngine upgraded CymaBay Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Stifel Nicolaus began coverage on CymaBay Therapeutics in a report on Monday, June 24th. They set a “buy” rating and a $14.00 price objective for the company. Oppenheimer set a $12.00 price objective on CymaBay Therapeutics and gave the company a “buy” rating in a report on Tuesday, June 11th. B. Riley set a $7.00 price objective on CymaBay Therapeutics and gave the company a “hold” rating in a report on Monday, June 17th. Finally, BidaskClub cut CymaBay Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.09.
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, a selective agonist of peroxisome proliferator-activated receptor delta, which has completed Phase II clinical study for the treatment of primary biliary cholangitis, as well as patients with nonalcoholic steatohepatitis.
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