Charles Mcwherter Purchases 5,000 Shares of CymaBay Therapeutics Inc. (CBAY) Stock

CymaBay Therapeutics Inc. (NASDAQ:CBAY) SVP Charles Mcwherter purchased 5,000 shares of CymaBay Therapeutics stock in a transaction dated Thursday, July 20th. The shares were bought at an average price of $7.43 per share, with a total value of $37,150.00. Following the completion of the acquisition, the senior vice president now directly owns 5,100 shares of the company’s stock, valued at $37,893. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

CymaBay Therapeutics Inc. (NASDAQ:CBAY) traded up 0.32% during midday trading on Friday, reaching $6.26. The company had a trading volume of 946,917 shares. The firm has a 50-day moving average of $6.64 and a 200 day moving average of $4.54. CymaBay Therapeutics Inc. has a 1-year low of $1.15 and a 1-year high of $8.29. The company’s market capitalization is $273.91 million.

CymaBay Therapeutics (NASDAQ:CBAY) last announced its earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.06. On average, equities research analysts forecast that CymaBay Therapeutics Inc. will post ($0.77) EPS for the current year.

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Several equities analysts have recently weighed in on CBAY shares. Ifs Securities restated a “strong-buy” rating on shares of CymaBay Therapeutics in a report on Monday, July 17th. Citigroup Inc. restated an “outperform” rating and set a $15.00 price target (up from $8.00) on shares of CymaBay Therapeutics in a report on Thursday, July 20th. Oppenheimer Holdings, Inc. lifted their price objective on CymaBay Therapeutics from $8.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, July 20th. ValuEngine upgraded CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, CIBC reiterated an “outperform” rating and issued a $15.00 price objective (up from $8.00) on shares of CymaBay Therapeutics in a report on Thursday, July 20th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. CymaBay Therapeutics has a consensus rating of “Buy” and a consensus target price of $12.32.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. TFS Capital LLC purchased a new position in shares of CymaBay Therapeutics during the first quarter worth $169,000. Boxer Capital LLC purchased a new position in shares of CymaBay Therapeutics during the first quarter worth $3,342,000. ClariVest Asset Management LLC purchased a new position in shares of CymaBay Therapeutics during the first quarter worth $105,000. Acadian Asset Management LLC purchased a new position in shares of CymaBay Therapeutics during the first quarter worth $129,000. Finally, LVM Capital Management Ltd. MI raised its position in shares of CymaBay Therapeutics by 100.0% in the second quarter. LVM Capital Management Ltd. MI now owns 20,000 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 10,000 shares in the last quarter. 25.39% of the stock is currently owned by institutional investors and hedge funds.

About CymaBay Therapeutics

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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