Short Interest in CymaBay Therapeutics Inc. (NASDAQ:CBAY) Decreases By 32.6%
CymaBay Therapeutics Inc. (NASDAQ:CBAY) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 367,834 shares, a decline of 32.6% from the May 31st total of 545,881 shares. Based on an average daily volume of 315,066 shares, the short-interest ratio is presently 1.2 days. Approximately 1.5% of the company’s shares are sold short.
Several institutional investors have recently modified their holdings of CBAY. ClariVest Asset Management LLC bought a new position in shares of CymaBay Therapeutics during the first quarter worth approximately $105,000. Acadian Asset Management LLC bought a new position in shares of CymaBay Therapeutics during the first quarter worth approximately $129,000. TFS Capital LLC bought a new position in shares of CymaBay Therapeutics during the first quarter worth approximately $169,000. Geode Capital Management LLC raised its position in shares of CymaBay Therapeutics by 71.4% in the first quarter. Geode Capital Management LLC now owns 168,528 shares of the biopharmaceutical company’s stock worth $724,000 after buying an additional 70,232 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of CymaBay Therapeutics by 97.6% in the first quarter. Renaissance Technologies LLC now owns 231,949 shares of the biopharmaceutical company’s stock worth $997,000 after buying an additional 114,549 shares during the period. 36.87% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on CBAY. HC Wainwright reiterated a “buy” rating and set a $7.00 target price (up previously from $6.00) on shares of CymaBay Therapeutics in a report on Monday, March 27th. Piper Jaffray Companies upped their target price on CymaBay Therapeutics from $5.00 to $6.50 and gave the stock an “overweight” rating in a report on Friday, March 24th. Oppenheimer Holdings, Inc. began coverage on CymaBay Therapeutics in a report on Friday, June 23rd. They set an “outperform” rating and a $8.00 target price on the stock. ValuEngine upgraded CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research downgraded CymaBay Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, April 3rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $5.94.
CymaBay Therapeutics (NASDAQ:CBAY) opened at 5.76 on Friday. CymaBay Therapeutics has a 12-month low of $1.15 and a 12-month high of $5.81. The stock’s market cap is $165.61 million. The firm’s 50 day moving average price is $4.59 and its 200-day moving average price is $3.37.
CymaBay Therapeutics (NASDAQ:CBAY) last issued its earnings results on Thursday, May 11th. The biopharmaceutical company reported ($0.20) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.07. The company had revenue of $4.79 million for the quarter. Equities research analysts anticipate that CymaBay Therapeutics will post ($0.79) earnings per share for the current fiscal year.
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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