CymaBay Therapeutics Inc. (NASDAQ:CBAY) shares dropped 3.9% on Thursday . The company traded as low as $2.23 and last traded at $2.23, with a volume of 94,558 shares changing hands. The stock had previously closed at $2.32.

CBAY has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating on shares of CymaBay Therapeutics in a report on Thursday, May 12th. Zacks Investment Research raised shares of CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, June 6th. Finally, Roth Capital started coverage on shares of CymaBay Therapeutics in a research note on Friday, July 1st. They set a “buy” rating for the company.

The company has a 50-day moving average of $1.79 and a 200-day moving average of $1.75. The stock’s market capitalization is $52.99 million.

CymaBay Therapeutics (NASDAQ:CBAY) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.02. On average, equities research analysts anticipate that CymaBay Therapeutics Inc. will post ($1.21) EPS 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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