CymaBay Therapeutics Inc. (NASDAQ:CBAY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “CymaBay Therapeutics Inc. is a biopharmaceutical company. It is focused on the development and commercialization of proprietary new medicines for important human diseases. The Company’s lead product candidate, arhalofenate, is being developed for the treatment of gout. CymaBay Therapeutics Inc. is based in Newark, California. “

CymaBay Therapeutics (NASDAQ:CBAY) opened at 2.05 on Tuesday. The stock’s market cap is $48.07 million. CymaBay Therapeutics has a 12-month low of $0.82 and a 12-month high of $3.04. The firm has a 50-day moving average price of $1.69 and a 200-day moving average price of $1.95.

In other CymaBay Therapeutics news, Director Robert James Wills acquired 25,000 shares of CymaBay Therapeutics stock in a transaction that occurred on Tuesday, September 6th. The stock was purchased at an average cost of $2.43 per share, with a total value of $60,750.00. Following the purchase, the director now owns 25,000 shares in the company, valued at $60,750. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.00% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in CymaBay Therapeutics stock. BlackRock Fund Advisors increased its position in shares of CymaBay Therapeutics Inc. (NASDAQ:CBAY) by 32.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,072 shares of the biopharmaceutical company’s stock after buying an additional 16,061 shares during the period. BlackRock Fund Advisors owned approximately 0.28% of CymaBay Therapeutics worth $115,000 at the end of the most recent quarter. 29.05% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:CBAY

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