CymaBay Therapeutics Inc. (CBAY) Sees Unusually-High Trading Volume
CymaBay Therapeutics Inc. (NASDAQ:CBAY) saw unusually-strong trading volume on Tuesday . Approximately 248,997 shares changed hands during mid-day trading, an increase of 54% from the previous session’s volume of 162,202 shares.The stock last traded at $2.24 and had previously closed at $2.21.
A number of equities research analysts have weighed in on CBAY shares. Roth Capital started coverage on CymaBay Therapeutics in a report on Friday, July 1st. They issued a “buy” rating on the stock. Zacks Investment Research raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, June 20th. Finally, HC Wainwright lowered CymaBay Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $6.00 to $2.25 in a report on Wednesday, June 1st.
The company has a 50 day moving average of $1.76 and a 200 day moving average of $1.74. The stock’s market cap is $53.93 million.
CymaBay Therapeutics (NASDAQ:CBAY) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.02. On average, equities research analysts expect that CymaBay Therapeutics Inc. will post ($1.21) earnings per share for the current fiscal year.
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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