CymaBay Therapeutics Target of Unusually High Options Trading (CBAY)

CymaBay Therapeutics Inc (NASDAQ:CBAY) was the recipient of some unusual options trading activity on Monday. Traders acquired 1,126 call options on the stock. This is an increase of 993% compared to the average daily volume of 103 call options.

A number of brokerages have recently issued reports on CBAY. Cantor Fitzgerald reiterated a “buy” rating and set a $16.00 price objective on shares of CymaBay Therapeutics in a report on Friday, March 16th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective (up from $12.00) on shares of CymaBay Therapeutics in a report on Wednesday, January 24th. Oppenheimer set a $15.00 price objective on shares of CymaBay Therapeutics and gave the company a “buy” rating in a report on Wednesday, January 10th. Piper Jaffray Companies reiterated a “buy” rating and set a $16.00 price objective on shares of CymaBay Therapeutics in a report on Friday, March 16th. Finally, Leerink Swann reiterated a “buy” rating and set a $16.00 price objective on shares of CymaBay Therapeutics in a report on Tuesday, November 28th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $17.78.

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In other CymaBay Therapeutics news, Director Kurt Von Emster sold 4,300 shares of CymaBay Therapeutics stock in a transaction on Friday, January 5th. The shares were sold at an average price of $10.21, for a total value of $43,903.00. Following the completion of the sale, the director now directly owns 90,000 shares of the company’s stock, valued at $918,900. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 978,140 shares of company stock valued at $11,761,941. Insiders own 15.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC boosted its holdings in CymaBay Therapeutics by 56.2% during the fourth quarter. Virtu Financial LLC now owns 24,735 shares of the biopharmaceutical company’s stock worth $228,000 after purchasing an additional 8,899 shares during the last quarter. Sigma Planning Corp boosted its holdings in CymaBay Therapeutics by 82.0% during the fourth quarter. Sigma Planning Corp now owns 27,300 shares of the biopharmaceutical company’s stock worth $251,000 after purchasing an additional 12,300 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new position in CymaBay Therapeutics during the fourth quarter worth about $115,000. Raymond James & Associates boosted its holdings in CymaBay Therapeutics by 50.6% during the fourth quarter. Raymond James & Associates now owns 53,148 shares of the biopharmaceutical company’s stock worth $489,000 after purchasing an additional 17,848 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in CymaBay Therapeutics during the fourth quarter worth about $197,000. Institutional investors and hedge funds own 61.36% of the company’s stock.

CBAY stock opened at $13.20 on Wednesday. CymaBay Therapeutics has a twelve month low of $3.16 and a twelve month high of $15.59. The firm has a market cap of $803.82, a PE ratio of -15.90 and a beta of 1.96. The company has a current ratio of 6.35, a quick ratio of 6.35 and a debt-to-equity ratio of 0.04.

CymaBay Therapeutics (NASDAQ:CBAY) last released its quarterly earnings results on Thursday, March 15th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.06. The firm had revenue of $5.20 million for the quarter, compared to analysts’ expectations of $1.25 million. analysts predict that CymaBay Therapeutics will post -0.86 EPS for the current year.

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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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