Shares of CymaBay Therapeutics Inc (NASDAQ:CBAY) rose 3.8% during mid-day trading on Thursday . The company traded as high as $9.77 and last traded at $9.47. Approximately 580,212 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 851,591 shares. The stock had previously closed at $9.13.
CBAY has been the subject of a number of research analyst reports. BidaskClub cut CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $16.00 price objective on shares of CymaBay Therapeutics in a research note on Thursday, August 9th. Oppenheimer set a $20.00 price objective on CymaBay Therapeutics and gave the company a “buy” rating in a research note on Thursday, August 9th. Piper Jaffray Companies upped their price objective on CymaBay Therapeutics to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research downgraded CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. CymaBay Therapeutics presently has a consensus rating of “Buy” and an average price target of $21.75.
The company has a market cap of $542.38 million, a P/E ratio of -12.23 and a beta of 1.89.
CymaBay Therapeutics (NASDAQ:CBAY) last posted its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.04). On average, equities research analysts predict that CymaBay Therapeutics Inc will post -1.27 EPS for the current fiscal year.
In other CymaBay Therapeutics news, CEO Sujal Shah bought 5,000 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was acquired at an average cost of $9.90 per share, with a total value of $49,500.00. Following the purchase, the chief executive officer now owns 100,000 shares in the company, valued at approximately $990,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.50% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. LPL Financial LLC purchased a new position in shares of CymaBay Therapeutics during the 1st quarter worth approximately $130,000. Legal & General Group Plc purchased a new position in shares of CymaBay Therapeutics during the 2nd quarter worth approximately $134,000. State Board of Administration of Florida Retirement System purchased a new position in shares of CymaBay Therapeutics during the 2nd quarter worth approximately $145,000. Teacher Retirement System of Texas purchased a new position in shares of CymaBay Therapeutics during the 2nd quarter worth approximately $151,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of CymaBay Therapeutics during the 2nd quarter worth approximately $152,000. 95.80% of the stock is owned by institutional investors and hedge funds.
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About CymaBay Therapeutics (NASDAQ:CBAY)
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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