CymaBay Therapeutics (NASDAQ:CBAY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “CymaBay Therapeutics Inc. is a biopharmaceutical company. It is focused on the development and commercialization of proprietary new medicines for important human diseases. The Company’s lead product candidate, arhalofenate, is being developed for the treatment of gout. CymaBay Therapeutics Inc. is based in Newark, California. “
Other equities analysts have also issued reports about the company. Oppenheimer set a $15.00 price objective on CymaBay Therapeutics and gave the company a “buy” rating in a research note on Wednesday, January 10th. Leerink Swann reaffirmed a “buy” rating and issued a $16.00 price objective on shares of CymaBay Therapeutics in a research note on Tuesday, November 28th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of CymaBay Therapeutics in a research note on Tuesday, November 28th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $16.00 price objective on shares of CymaBay Therapeutics in a research note on Wednesday, November 8th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $12.00 price objective on shares of CymaBay Therapeutics in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. CymaBay Therapeutics presently has an average rating of “Buy” and an average target price of $14.50.
CymaBay Therapeutics (CBAY) traded down $0.21 during midday trading on Tuesday, hitting $9.76. The stock had a trading volume of 533,823 shares, compared to its average volume of 542,211. The firm has a market cap of $428.11, a price-to-earnings ratio of -9.66 and a beta of 1.82. CymaBay Therapeutics has a fifty-two week low of $1.46 and a fifty-two week high of $10.25. The company has a quick ratio of 7.39, a current ratio of 7.39 and a debt-to-equity ratio of 0.04.
CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter last year, the business earned ($0.25) earnings per share. equities analysts expect that CymaBay Therapeutics will post -0.82 earnings per share for the current fiscal year.
In related news, Director Kurt Von Emster sold 4,300 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $10.21, for a total transaction of $43,903.00. Following the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $918,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carl Goldfischer sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $8.66, for a total value of $155,880.00. Following the transaction, the director now directly owns 9,000 shares in the company, valued at $77,940. The disclosure for this sale can be found here. Insiders have sold a total of 304,749 shares of company stock worth $2,841,832 over the last three months. 15.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in shares of CymaBay Therapeutics by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,344 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 140 shares in the last quarter. Ardsley Advisory Partners raised its position in shares of CymaBay Therapeutics by 66.2% in the 2nd quarter. Ardsley Advisory Partners now owns 50,210 shares of the biopharmaceutical company’s stock valued at $290,000 after purchasing an additional 20,000 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of CymaBay Therapeutics in the 3rd quarter valued at approximately $404,000. Crestline Management LP acquired a new position in shares of CymaBay Therapeutics in the 3rd quarter valued at approximately $841,000. Finally, GSA Capital Partners LLP acquired a new position in shares of CymaBay Therapeutics in the 3rd quarter valued at approximately $1,218,000. 69.12% of the stock is currently owned by hedge funds and other institutional investors.
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CymaBay Therapeutics Company Profile
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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