CymaBay Therapeutics (NASDAQ:CBAY) Sees Unusually-High Trading Volume

CymaBay Therapeutics Inc (NASDAQ:CBAY) shares saw unusually-strong trading volume on Wednesday . Approximately 4,816,100 shares changed hands during trading, an increase of 295% from the previous session’s volume of 1,220,599 shares.The stock last traded at $1.56 and had previously closed at $1.55.

A number of research analysts recently issued reports on CBAY shares. Stifel Nicolaus lowered CymaBay Therapeutics from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a report on Monday, November 25th. Svb Leerink reaffirmed a “market perform” rating on shares of CymaBay Therapeutics in a report on Thursday, January 2nd. Leerink Swann lowered CymaBay Therapeutics to a “hold” rating and set a $2.50 target price on the stock. in a report on Tuesday, November 26th. Roth Capital lowered CymaBay Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $22.00 to $2.00 in a report on Tuesday, November 26th. Finally, Zacks Investment Research raised CymaBay Therapeutics from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $6.56.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.12 and a current ratio of 13.12. The company has a 50 day simple moving average of $1.81 and a two-hundred day simple moving average of $3.96. The company has a market cap of $107.17 million, a PE ratio of -1.15 and a beta of 1.20.

Several institutional investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC lifted its holdings in shares of CymaBay Therapeutics by 19.7% during the second quarter. Parametric Portfolio Associates LLC now owns 29,838 shares of the biopharmaceutical company’s stock worth $214,000 after buying an additional 4,920 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of CymaBay Therapeutics by 6.8% during the second quarter. Vanguard Group Inc. now owns 3,559,875 shares of the biopharmaceutical company’s stock worth $25,488,000 after buying an additional 226,906 shares during the last quarter. Invesco Ltd. acquired a new position in shares of CymaBay Therapeutics during the second quarter worth approximately $1,111,000. Bank of America Corp DE lifted its holdings in shares of CymaBay Therapeutics by 19.9% during the second quarter. Bank of America Corp DE now owns 227,748 shares of the biopharmaceutical company’s stock worth $1,630,000 after buying an additional 37,862 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of CymaBay Therapeutics during the second quarter worth approximately $151,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

About CymaBay Therapeutics (NASDAQ:CBAY)

CymaBay Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and providing therapies to treat liver and other chronic diseases. Its lead product candidate is seladelpar, a selective agonist of peroxisome proliferator-activated receptor delta, which has completed Phase II clinical study for the treatment of primary biliary cholangitis, as well as patients with nonalcoholic steatohepatitis.

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