Shares of CymaBay Therapeutics Inc (NASDAQ:CBAY) rose 5.1% on Friday . The stock traded as high as $10.00 and last traded at $9.90. Approximately 874,600 shares were traded during mid-day trading, an increase of 28% from the average daily volume of 685,133 shares. The stock had previously closed at $9.42.

CBAY has been the topic of several recent research reports. Cantor Fitzgerald initiated coverage on shares of CymaBay Therapeutics in a research report on Tuesday, September 19th. They issued an “overweight” rating and a $16.00 price objective on the stock. Zacks Investment Research upgraded shares of CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. Piper Jaffray Companies reiterated a “buy” rating and issued a $12.00 price objective on shares of CymaBay Therapeutics in a research report on Friday, October 27th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of CymaBay Therapeutics in a research report on Tuesday, November 28th. Finally, Oppenheimer set a $15.00 price objective on shares of CymaBay Therapeutics and gave the company a “buy” rating in a research report on Monday, October 30th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $14.50.

The company has a market cap of $437.33, a P/E ratio of -9.80 and a beta of 1.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.39 and a current ratio of 7.39.

CymaBay Therapeutics (NASDAQ:CBAY) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.02). During the same quarter in the previous year, the business earned ($0.25) EPS. research analysts forecast that CymaBay Therapeutics Inc will post -0.82 EPS for the current year.

In other news, Director Kurt Von Emster sold 59,209 shares of CymaBay Therapeutics stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $9.27, for a total value of $548,867.43. Following the transaction, the director now owns 90,000 shares of the company’s stock, valued at approximately $834,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carl Goldfischer sold 18,000 shares of CymaBay Therapeutics stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $8.66, for a total transaction of $155,880.00. Following the completion of the transaction, the director now directly owns 9,000 shares in the company, valued at approximately $77,940. The disclosure for this sale can be found here. Insiders sold a total of 300,449 shares of company stock worth $2,797,929 in the last ninety days. Corporate insiders own 15.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in shares of CymaBay Therapeutics in the third quarter worth approximately $1,218,000. Iguana Healthcare Management LLC increased its position in shares of CymaBay Therapeutics by 138.1% in the third quarter. Iguana Healthcare Management LLC now owns 250,000 shares of the biopharmaceutical company’s stock worth $2,015,000 after acquiring an additional 145,000 shares in the last quarter. Crestline Management LP purchased a new position in shares of CymaBay Therapeutics in the third quarter worth approximately $841,000. Perceptive Advisors LLC purchased a new position in shares of CymaBay Therapeutics in the third quarter worth approximately $18,948,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of CymaBay Therapeutics in the third quarter worth approximately $404,000. 69.12% of the stock is currently owned by institutional investors and hedge funds.

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About CymaBay Therapeutics

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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