CymaBay Therapeutics Inc. (CBAY) Shares Down 6.4%
CymaBay Therapeutics Inc. (NASDAQ:CBAY) traded down 6.4% during trading on Monday . The stock traded as low as $8.32 and last traded at $9.25. 755,000 shares traded hands during trading, an increase of 3% from the average session volume of 734,731 shares. The stock had previously closed at $8.69.
Several equities research analysts have recently commented on the company. Cantor Fitzgerald reissued a “buy” rating and set a $16.00 price target on shares of CymaBay Therapeutics in a research note on Wednesday, November 8th. Oppenheimer Holdings, Inc. set a $15.00 price target on CymaBay Therapeutics and gave the stock a “buy” rating in a research note on Monday, October 30th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $12.00 target price on shares of CymaBay Therapeutics in a research note on Friday, October 27th. Zacks Investment Research raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, September 18th. Finally, Leerink Swann initiated coverage on CymaBay Therapeutics in a research note on Wednesday, August 23rd. They issued an “outperform” rating and a $12.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. CymaBay Therapeutics presently has a consensus rating of “Buy” and an average price target of $14.00.
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 posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). During the same quarter in the previous year, the firm earned ($0.25) earnings per share. sell-side analysts anticipate that CymaBay Therapeutics Inc. will post -0.83 earnings per share for the current fiscal year.
In other CymaBay Therapeutics news, Director Carl Goldfischer sold 18,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 9,000 shares in the company, valued at approximately $77,940. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kurt Von Emster sold 211,124 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $8.09, for a total value of $1,707,993.16. The disclosure for this sale can be found here. Insiders sold a total of 397,209 shares of company stock valued at $3,267,417 over the last quarter. 15.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in 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 acquiring an additional 140 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in CymaBay Therapeutics in the 2nd quarter valued at $242,000. Ardsley Advisory Partners raised its holdings in 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 acquiring an additional 20,000 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in CymaBay Therapeutics in the 3rd quarter valued at $1,536,000. Finally, Renaissance Technologies LLC raised its holdings in CymaBay Therapeutics by 97.6% in the 1st quarter. Renaissance Technologies LLC now owns 231,949 shares of the biopharmaceutical company’s stock valued at $997,000 after acquiring an additional 114,549 shares during the last quarter. Institutional investors own 27.08% of the company’s stock.
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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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