CymaBay Therapeutics Inc. (CBAY) Stock Price Down 4.6%
Shares of CymaBay Therapeutics Inc. (NASDAQ:CBAY) dropped 4.6% during trading on Tuesday . The stock traded as low as $2.15 and last traded at $2.29, with a volume of 96,363 shares. The stock had previously closed at $2.40.
CBAY has been the topic of several research analyst reports. Zacks Investment Research downgraded CymaBay Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 31st. HC Wainwright downgraded CymaBay Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $6.00 to $2.25 in a research note on Wednesday, June 1st. Finally, Roth Capital initiated coverage on CymaBay Therapeutics in a research note on Friday, July 1st. They issued a “buy” rating on the stock.
The stock’s 50 day moving average is $2.14 and its 200-day moving average is $1.92. The stock’s market cap is $54.87 million.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/13/cymabay-therapeutics-inc-cbay-stock-price-down-4-6.html
CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. On average, analysts forecast that CymaBay Therapeutics Inc. will post ($1.20) earnings per share for the current fiscal year.
In other news, Director Robert James Wills acquired 25,000 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were purchased at an average price of $2.43 per share, for a total transaction of $60,750.00. Following the completion of the transaction, the director now owns 25,000 shares of the company’s stock, valued at $60,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.00% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in CymaBay Therapeutics by 11.4% in the second quarter. Vanguard Group Inc. now owns 612,249 shares of the biopharmaceutical company’s stock worth $1,065,000 after buying an additional 62,896 shares during the last quarter. Renaissance Technologies LLC boosted its position in CymaBay Therapeutics by 82.3% in the first quarter. Renaissance Technologies LLC now owns 111,000 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 50,100 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in CymaBay Therapeutics by 32.1% in the second quarter. BlackRock Fund Advisors now owns 66,072 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 16,061 shares during the last quarter. Hedge funds and other institutional investors own 30.37% of the company’s stock.
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.
Receive News & Ratings for CymaBay Therapeutics Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for CymaBay Therapeutics Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.