Shares of CymaBay Therapeutics, Inc. (NASDAQ:CBAY – Get Free Report) fell 5.6% during trading on Monday following insider selling activity. The stock traded as low as $12.65 and last traded at $12.72. 389,705 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,726,847 shares. The stock had previously closed at $13.47.
Specifically, VP Daniel Menold sold 20,945 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $12.35, for a total transaction of $258,670.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CymaBay Therapeutics news, VP Daniel Menold sold 20,945 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $12.35, for a total value of $258,670.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Paul T. Quinlan sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $10.05, for a total transaction of $50,250.00. The disclosure for this sale can be found here. Insiders sold 96,192 shares of company stock valued at $991,515 over the last three months. Insiders own 7.00% of the company’s stock.
Wall Street Analysts Forecast Growth
CBAY has been the subject of a number of recent analyst reports. UBS Group initiated coverage on shares of CymaBay Therapeutics in a research report on Monday. They issued a “buy” rating and a $18.00 price target for the company. StockNews.com downgraded shares of CymaBay Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BTIG Research boosted their target price on shares of CymaBay Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday. Guggenheim initiated coverage on shares of CymaBay Therapeutics in a report on Friday. They issued a “buy” rating and a $20.00 target price on the stock. Finally, HC Wainwright boosted their target price on shares of CymaBay Therapeutics from $19.00 to $21.00 in a report on Monday. One research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CymaBay Therapeutics has an average rating of “Moderate Buy” and an average price target of $17.20.
CymaBay Therapeutics Stock Down 10.4 %
The firm has a market capitalization of $1.18 billion, a P/E ratio of -13.72 and a beta of 0.38. The company has a debt-to-equity ratio of 0.92, a quick ratio of 12.52 and a current ratio of 12.52. The business’s fifty day moving average price is $10.66 and its two-hundred day moving average price is $9.61.
CymaBay Therapeutics (NASDAQ:CBAY – Get Free Report) last released its quarterly earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.20. The firm had revenue of $31.02 million during the quarter, compared to the consensus estimate of $30.78 million. Equities analysts expect that CymaBay Therapeutics, Inc. will post -1.06 earnings per share for the current fiscal year.
Hedge Funds Weigh In On CymaBay Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of CymaBay Therapeutics by 183.2% in the 2nd quarter. BlackRock Inc. now owns 7,504,670 shares of the biopharmaceutical company’s stock valued at $82,176,000 after purchasing an additional 4,854,593 shares during the last quarter. Perceptive Advisors LLC raised its position in CymaBay Therapeutics by 450.5% during the 1st quarter. Perceptive Advisors LLC now owns 3,903,255 shares of the biopharmaceutical company’s stock worth $34,036,000 after buying an additional 3,194,262 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of CymaBay Therapeutics by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 3,842,376 shares of the biopharmaceutical company’s stock worth $11,950,000 after purchasing an additional 53,919 shares during the period. Cormorant Asset Management LP grew its stake in shares of CymaBay Therapeutics by 198.9% during the 2nd quarter. Cormorant Asset Management LP now owns 3,800,000 shares of the biopharmaceutical company’s stock worth $41,610,000 after purchasing an additional 2,528,571 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of CymaBay Therapeutics by 1.5% during the 2nd quarter. Franklin Resources Inc. now owns 3,272,008 shares of the biopharmaceutical company’s stock worth $35,828,000 after purchasing an additional 47,146 shares during the period. 91.07% of the stock is owned by hedge funds and other institutional investors.
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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