CymaBay Therapeutics Inc. (CBAY) Shares Up 5.3%
Shares of CymaBay Therapeutics Inc. (NASDAQ:CBAY) shot up 5.3% on Tuesday . The company traded as high as $9.00 and last traded at $8.94. 1,412,795 shares were traded during mid-day trading, an increase of 13% from the average session volume of 1,248,410 shares. The stock had previously closed at $8.49.
A number of analysts recently issued reports on CBAY shares. Piper Jaffray Companies reissued an “overweight” rating and set a $12.00 target price on shares of CymaBay Therapeutics in a research note on Tuesday, July 25th. Oppenheimer Holdings, Inc. increased their target price on CymaBay Therapeutics from $8.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. Ifs Securities reissued a “strong-buy” rating on shares of CymaBay Therapeutics in a research note on Monday, July 17th. Leerink Swann started coverage on CymaBay Therapeutics in a research note on Wednesday, August 23rd. They set an “outperform” rating and a $12.00 target price for the company. Finally, Zacks Investment Research cut CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $14.00.
The stock has a 50 day moving average price of $7.21 and a 200-day moving average price of $5.62. The firm’s market capitalization is $388.99 million.
CymaBay Therapeutics (NASDAQ:CBAY) last issued its quarterly earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.06). Equities analysts anticipate that CymaBay Therapeutics Inc. will post ($0.82) earnings per share for the current year.
In other news, Director Robert James Wills bought 5,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were bought at an average cost of $6.84 per share, with a total value of $34,200.00. Following the completion of the transaction, the director now directly owns 25,200 shares of the company’s stock, valued at $172,368. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kurt Von Emster sold 211,124 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was 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 have bought 20,000 shares of company stock worth $144,750 over the last ninety days. 15.10% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Ardsley Advisory Partners raised its position in shares of CymaBay Therapeutics by 66.2% during the second quarter. Ardsley Advisory Partners now owns 50,210 shares of the biopharmaceutical company’s stock worth $290,000 after purchasing an additional 20,000 shares during the period. Vanguard Group Inc. raised its position in shares of CymaBay Therapeutics by 20.7% during the second quarter. Vanguard Group Inc. now owns 991,633 shares of the biopharmaceutical company’s stock worth $5,712,000 after purchasing an additional 170,126 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of CymaBay Therapeutics during the second quarter worth approximately $242,000. Bank of New York Mellon Corp raised its position in shares of CymaBay Therapeutics by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 17,344 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 140 shares during the period. Finally, LVM Capital Management Ltd. MI grew its holdings in CymaBay Therapeutics by 100.0% during 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 in the last quarter. 25.91% of the stock is currently owned by institutional investors.
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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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