StockNews.com Initiates Coverage on CymaBay Therapeutics (NASDAQ:CBAY)

Equities researchers at StockNews.com initiated coverage on shares of CymaBay Therapeutics (NASDAQ:CBAY) in a note issued to investors on Friday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Several other research firms have also recently commented on CBAY. Lifesci Capital cut shares of CymaBay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. UBS Group reaffirmed a “neutral” rating and issued a $32.50 target price (up from $25.00) on shares of CymaBay Therapeutics in a research note on Wednesday, February 14th. Piper Sandler reaffirmed a “neutral” rating and issued a $32.50 target price (down from $33.00) on shares of CymaBay Therapeutics in a research note on Wednesday, February 14th. SVB Leerink reaffirmed a “market perform” rating and issued a $32.50 target price on shares of CymaBay Therapeutics in a research note on Tuesday, February 20th. Finally, B. Riley reiterated a “neutral” rating and issued a $32.50 price target (up previously from $29.00) on shares of CymaBay Therapeutics in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.65.

CymaBay Therapeutics Price Performance

Shares of CBAY opened at $32.48 on Friday. The firm has a 50 day simple moving average of $32.09 and a 200-day simple moving average of $23.99. CymaBay Therapeutics has a 1-year low of $7.26 and a 1-year high of $32.50. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -33.48 and a beta of 0.32.

CymaBay Therapeutics (NASDAQ:CBAY) last released its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The business had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.42 million. On average, equities analysts expect that CymaBay Therapeutics will post -1.38 earnings per share for the current fiscal year.

Insider Activity at CymaBay Therapeutics

In related news, Director Janet Dorling sold 6,000 shares of CymaBay Therapeutics stock in a transaction on Monday, February 12th. The shares were sold at an average price of $31.97, for a total transaction of $191,820.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On CymaBay Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CBAY. RA Capital Management L.P. acquired a new position in shares of CymaBay Therapeutics during the 3rd quarter valued at $103,475,000. BlackRock Inc. lifted its holdings in CymaBay Therapeutics by 183.2% in the 2nd quarter. BlackRock Inc. now owns 7,504,670 shares of the biopharmaceutical company’s stock worth $82,176,000 after buying an additional 4,854,593 shares in the last quarter. Franklin Resources Inc. lifted its holdings in CymaBay Therapeutics by 13,862.3% in the 1st quarter. Franklin Resources Inc. now owns 3,224,862 shares of the biopharmaceutical company’s stock worth $28,121,000 after buying an additional 3,201,765 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in CymaBay Therapeutics by 450.5% in the 1st quarter. Perceptive Advisors LLC now owns 3,903,255 shares of the biopharmaceutical company’s stock worth $34,036,000 after buying an additional 3,194,262 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in CymaBay Therapeutics by 134.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,465,161 shares of the biopharmaceutical company’s stock worth $105,468,000 after buying an additional 2,561,460 shares in the last quarter. Institutional investors and hedge funds own 95.03% 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).