CymaBay Therapeutics (CBAY) Reaches New 1-Year High at $14.98

CymaBay Therapeutics Inc (NASDAQ:CBAY) reached a new 52-week high during trading on Monday . The stock traded as high as $14.98 and last traded at $14.98, with a volume of 1400500 shares changing hands. The stock had previously closed at $14.87.

CBAY has been the subject of several recent research reports. Oppenheimer set a $15.00 price target on shares of CymaBay Therapeutics and gave the company a “buy” rating in a report on Wednesday, January 10th. Leerink Swann restated a “buy” rating and issued a $16.00 price target on shares of CymaBay Therapeutics in a report on Tuesday, November 28th. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of CymaBay Therapeutics in a report on Tuesday, November 28th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $16.00 price objective on shares of CymaBay Therapeutics in a research report on Wednesday, November 8th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $12.00 price objective on shares of CymaBay Therapeutics in a research report on Friday, October 27th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $16.56.

The company has a market cap of $830.59, a PE ratio of -14.69 and a beta of 2.36. The company has a quick ratio of 7.39, a current ratio of 7.39 and a debt-to-equity ratio of 0.04.

In other CymaBay Therapeutics news, Director Kurt Von Emster sold 218,057 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $15.89, for a total transaction of $3,464,925.73. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have sold 964,787 shares of company stock worth $11,554,836. 15.10% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Perceptive Advisors LLC grew its position in CymaBay Therapeutics by 14.2% during the 4th quarter. Perceptive Advisors LLC now owns 2,685,882 shares of the biopharmaceutical company’s stock worth $24,710,000 after purchasing an additional 335,000 shares during the last quarter. Redmile Group LLC grew its position in CymaBay Therapeutics by 21.6% during the 4th quarter. Redmile Group LLC now owns 2,002,265 shares of the biopharmaceutical company’s stock worth $18,421,000 after purchasing an additional 355,165 shares during the last quarter. Farallon Capital Management LLC purchased a new stake in CymaBay Therapeutics during the 4th quarter worth approximately $10,120,000. Vanguard Group Inc. grew its position in CymaBay Therapeutics by 20.7% during the 2nd 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 last quarter. Finally, Citadel Advisors LLC grew its position in CymaBay Therapeutics by 8.5% during the 4th quarter. Citadel Advisors LLC now owns 694,252 shares of the biopharmaceutical company’s stock worth $6,387,000 after purchasing an additional 54,225 shares during the last quarter. 60.12% of the stock is currently owned by institutional investors.

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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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