CymaBay Therapeutics Inc. (NASDAQ:CBAY) Issues Quarterly Earnings Results
CymaBay Therapeutics Inc. (NASDAQ:CBAY) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.25) by $0.06, Bloomberg Earnings reports.
CymaBay Therapeutics (NASDAQ CBAY) traded down 4.17% during mid-day trading on Thursday, hitting $6.66. 505,887 shares of the stock traded hands. The stock has a 50 day moving average price of $6.44 and a 200 day moving average price of $4.33. The firm’s market cap is $191.49 million. CymaBay Therapeutics has a 12-month low of $1.15 and a 12-month high of $8.29.
In other CymaBay Therapeutics news, insider Sujal Shah acquired 10,000 shares of the stock in a transaction dated Thursday, July 20th. The shares were bought at an average price of $7.34 per share, with a total value of $73,400.00. Following the purchase, the insider now directly owns 75,891 shares of the company’s stock, valued at approximately $557,039.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert James Wills acquired 5,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average cost of $6.84 per share, for a total transaction of $34,200.00. Following the purchase, the director now directly owns 25,200 shares in the company, valued at $172,368. The disclosure for this purchase can be found here. Insiders bought a total of 20,000 shares of company stock worth $144,750 in the last ninety days. Corporate insiders own 15.10% of the company’s stock.
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CBAY has been the topic of several recent analyst reports. Ifs Securities restated a “strong-buy” rating on shares of CymaBay Therapeutics in a research report on Monday, July 17th. Citigroup Inc. restated an “outperform” rating and set a $15.00 target price (up from $8.00) on shares of CymaBay Therapeutics in a research report on Thursday, July 20th. Oppenheimer Holdings, Inc. initiated coverage on shares of CymaBay Therapeutics in a research report on Friday, June 23rd. They set an “outperform” rating and a $8.00 target price on the stock. ValuEngine upgraded shares of CymaBay Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, CIBC restated an “outperform” rating and set a $15.00 target price (up from $8.00) on shares of CymaBay Therapeutics in a research report on Thursday, July 20th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $11.88.
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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