CymaBay Therapeutics (NASDAQ:CBAY) Upgraded at StockNews.com

StockNews.com upgraded shares of CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) from a sell rating to a hold rating in a research note published on Tuesday morning.

CBAY has been the topic of several other reports. Piper Sandler boosted their target price on shares of CymaBay Therapeutics from $12.00 to $19.00 and gave the company an overweight rating in a report on Sunday, January 29th. Cantor Fitzgerald upped their price target on CymaBay Therapeutics from $13.00 to $15.00 in a research note on Tuesday, May 16th. HC Wainwright increased their price target on CymaBay Therapeutics from $10.00 to $12.00 in a report on Friday, March 17th. Oppenheimer boosted their price objective on shares of CymaBay Therapeutics from $10.00 to $12.00 and gave the company an outperform rating in a report on Tuesday, March 7th. Finally, William Blair began coverage on CymaBay Therapeutics in a report on Wednesday, April 5th. They set an outperform rating for the company. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $14.57.

CymaBay Therapeutics Stock Up 0.6 %

CBAY stock opened at $8.55 on Tuesday. The stock has a market capitalization of $833.71 million, a P/E ratio of -7.25 and a beta of 0.27. CymaBay Therapeutics has a 52 week low of $1.81 and a 52 week high of $11.22. The firm has a 50-day simple moving average of $9.47 and a 200-day simple moving average of $7.33.

CymaBay Therapeutics (NASDAQ:CBAY – Get Rating) last posted its quarterly earnings data on Thursday, March 16th. The biopharmaceutical company reported ($0.30) EPS for the quarter, meeting the consensus estimate of ($0.30). During the same period last year, the company earned ($0.34) earnings per share. On average, analysts expect that CymaBay Therapeutics will post -1.01 earnings per share for the current year.

Insiders Place Their Bets

In other CymaBay Therapeutics news, insider Charles Mcwherter sold 21,749 shares of CymaBay Therapeutics stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $9.08, for a total transaction of $197,480.92. Following the completion of the sale, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $136,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other CymaBay Therapeutics news, insider Charles Mcwherter sold 21,749 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $9.08, for a total transaction of $197,480.92. Following the sale, the insider now owns 15,000 shares of the company’s stock, valued at $136,200. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dennis D. Kim sold 7,781 shares of the business’s stock in a transaction dated Thursday, April 13th. The shares were sold at an average price of $8.98, for a total value of $69,873.38. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $179,600. The disclosure for this sale can be found here. Insiders sold 146,849 shares of company stock worth $1,390,672 in the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On CymaBay Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of CymaBay Therapeutics by 2.7% during the 1st quarter. BlackRock Inc. now owns 5,466,209 shares of the biopharmaceutical company’s stock worth $16,998,000 after purchasing an additional 142,081 shares in the last quarter. Perceptive Advisors LLC grew its holdings in CymaBay Therapeutics by 450.5% during the 1st quarter. Perceptive Advisors LLC now owns 3,903,255 shares of the biopharmaceutical company’s stock valued at $34,036,000 after buying an additional 3,194,262 shares during the last quarter. Vanguard Group Inc. increased its position in CymaBay Therapeutics by 1.4% during the first quarter. Vanguard Group Inc. now owns 3,842,376 shares of the biopharmaceutical company’s stock worth $11,950,000 after buying an additional 53,919 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of CymaBay Therapeutics by 13,862.3% in the first quarter. Franklin Resources Inc. now owns 3,224,862 shares of the biopharmaceutical company’s stock worth $28,121,000 after acquiring an additional 3,201,765 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of CymaBay Therapeutics by 27.1% in the second quarter. Millennium Management LLC now owns 3,015,496 shares of the biopharmaceutical company’s stock valued at $8,896,000 after acquiring an additional 642,796 shares in the last quarter. 73.54% of the stock is owned by institutional investors and hedge funds.

CymaBay Therapeutics Company Profile

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CymaBay Therapeutics, Inc engages in the provision and development of access to therapies for patients with liver and other chronic diseases with high unmet medical needs. Its products pipeline includes Seladelpar, MBX-2982, CB-0406, and CB-001. The company was founded on October 5, 1988 and is headquartered in Newark, CA.