CymaBay Therapeutics Inc. (NASDAQ:CBAY) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,076,152 shares, a growth of 75.9% from the July 14th total of 611,816 shares. Based on an average daily volume of 3,069,062 shares, the days-to-cover ratio is currently 0.4 days. Currently, 2.7% of the shares of the stock are short sold.

Several brokerages recently issued reports on CBAY. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $12.00 price target on shares of CymaBay Therapeutics in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. lifted their price target on shares of CymaBay Therapeutics from $8.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, July 20th. Citigroup Inc. reiterated an “outperform” rating and set a $15.00 target price (up from $8.00) on shares of CymaBay Therapeutics in a research report on Thursday, July 20th. Ifs Securities reiterated a “strong-buy” rating on shares of CymaBay Therapeutics in a research report on Monday, July 17th. Finally, CIBC reiterated an “outperform” rating and set a $15.00 target price (up from $8.00) on shares of CymaBay Therapeutics in a research report on Thursday, July 20th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $11.88.

Shares of CymaBay Therapeutics (CBAY) opened at 6.34 on Wednesday. The company’s 50-day moving average is $6.57 and its 200 day moving average is $4.49. The firm’s market capitalization is $182.29 million. CymaBay Therapeutics has a 52-week low of $1.15 and a 52-week high of $8.29.

CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.06. Analysts expect that CymaBay Therapeutics will post ($0.77) EPS for the current fiscal year.

In related news, insider Sujal Shah purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were bought at an average cost of $7.34 per share, with a total value of $73,400.00. Following the acquisition, the insider now owns 75,891 shares of the company’s stock, valued at approximately $557,039.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Charles Mcwherter purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were bought at an average cost of $7.43 per share, for a total transaction of $37,150.00. Following the completion of the acquisition, the senior vice president now directly owns 5,100 shares in the company, valued at approximately $37,893. The disclosure for this purchase can be found here. Insiders have purchased a total of 20,000 shares of company stock worth $144,750 over the last ninety days. 15.10% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of CymaBay Therapeutics by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 17,344 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 140 shares during the last quarter. LVM Capital Management Ltd. MI boosted its position in shares of CymaBay Therapeutics by 100.0% in the second quarter. LVM Capital Management Ltd. MI now owns 20,000 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 10,000 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in shares of CymaBay Therapeutics during the first quarter worth approximately $105,000. Acadian Asset Management LLC acquired a new position in shares of CymaBay Therapeutics during the first quarter worth approximately $129,000. Finally, TFS Capital LLC acquired a new position in shares of CymaBay Therapeutics during the first quarter worth approximately $169,000. Institutional investors and hedge funds own 25.39% 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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