Shares of CymaBay Therapeutics, Inc. (NASDAQ:CBAY – Get Free Report) hit a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $14.19 and last traded at $13.56, with a volume of 369311 shares changing hands. The stock had previously closed at $12.96.
The biopharmaceutical company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.20. The company had revenue of $31.02 million during the quarter, compared to analyst estimates of $30.78 million.
Wall Street Analyst Weigh In
Several research firms recently issued reports on CBAY. B. Riley upped their target price on CymaBay Therapeutics from $8.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Cantor Fitzgerald upped their target price on CymaBay Therapeutics from $13.00 to $15.00 in a research report on Tuesday, May 16th. Guggenheim initiated coverage on shares of CymaBay Therapeutics in a research note on Friday. They set a “buy” rating and a $20.00 price objective for the company. StockNews.com lowered shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, BTIG Research boosted their target price on shares of CymaBay Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CymaBay Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $16.89.
Insider Activity
In related news, VP Daniel Menold sold 20,945 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $12.35, for a total value of $258,670.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Charles Mcwherter sold 21,749 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $11.43, for a total transaction of $248,591.07. Following the completion of the sale, the insider now owns 15,000 shares of the company’s stock, valued at $171,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daniel Menold sold 20,945 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $12.35, for a total transaction of $258,670.75. The disclosure for this sale can be found here. Insiders have sold 101,192 shares of company stock worth $1,043,365 in the last ninety days. Company insiders own 7.00% of the company’s stock.
Institutional Trading of CymaBay Therapeutics
Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in CymaBay Therapeutics by 506.5% in the 3rd quarter. Royal Bank of Canada now owns 7,581 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 6,331 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of CymaBay Therapeutics in the second quarter worth about $36,000. Dorsey Wright & Associates acquired a new position in CymaBay Therapeutics during the fourth quarter worth about $39,000. Great West Life Assurance Co. Can purchased a new stake in CymaBay Therapeutics during the 1st quarter valued at about $40,000. Finally, Verition Fund Management LLC acquired a new stake in CymaBay Therapeutics in the 2nd quarter valued at about $47,000. 91.07% of the stock is owned by institutional investors and hedge funds.
CymaBay Therapeutics Stock Performance
The firm has a market capitalization of $1.31 billion, a PE ratio of -11.42 and a beta of 0.38. The stock’s 50 day simple moving average is $10.53 and its two-hundred day simple moving average is $9.51.
CymaBay Therapeutics Company Profile
CymaBay Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and providing therapies to treat liver and other chronic diseases. Its lead product candidate is seladelpar (MBX-8025), a selective agonist of peroxisome proliferator activated receptor delta for the treatments of autoimmune liver disease, primary biliary cholangitis (PBC).
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