Value Hunters: Look To CymaBay Therapeutics Inc. (CBAY)

FIVE Stock
FIVE Stock

D. E. Shaw & Co. LP recently announced the acquisition of new stake in CymaBay Therapeutics Inc. (NASDAQ:CBAY). The institutional investor has increased its shareholding in the Healthcare company by 42.55% to 3.45 million shares with purchase of 1.03 million shares. This fresh investment now brings its stake to 5.01% valued currently at $12.04 million. In addition, DWS Investments (UK) Ltd. raised its holdings by 2.71 million to 2.74 million shares.

With over 2.25 million CymaBay Therapeutics Inc. (CBAY) shares trading Friday and a closing price of $4.10 on the day, the dollar volume was approximately $9.22 million. The shares have shown a positive weekly performance of 16.25% and its price on 07/24/20 lost nearly -2.84%. Currently, there are 68.88M common shares owned by the public and among those 68.61M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for CBAY have a consensus price objective of $9.56. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $6.00 should the stock experience a downside. Incidentally, analysts’ outlook for the CymaBay Therapeutics Inc. stock is 1.70 for the next 12 months. But an upside of 72.67% will see the stock hit the forecast high price target while mean target price for the stock is $9.00.

Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 10,000 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

The top 3 mutual fund holders in CymaBay Therapeutics Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 1.95 million shares of the company’s stock, all valued at over $6.82 million. The company sold 95164.0 shares recently to bring their total holdings to about 2.84% of the shares outstanding. iShares Russell 2000 ETF sold 36894.0 shares to see its total holdings shrink to 1.46 million shares valued at over $5.08 million and representing 2.11% of the shares outstanding. Vanguard Extended Market Index Fu bought 10774.0 shares to bring its total holdings to over 0.97 million shares at a value of $3.4 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.41% of the shares outstanding.

Shares of CymaBay Therapeutics Inc. (NASDAQ: CBAY) opened at $4.31, up $0.09 from a prior closing price of $4.22. However, the script later closed the day at $4.10, down -2.84%. The company’s stock has a 5-day price change of 16.25% and 154.22% over the past three months. CBAY shares are trading 115.31% year to date (YTD), with the 12-month market performance down to -32.26% lower. It has a 12-month low price of $1.21 and touched a high of $6.56 over the same period. Currently, 2.25 million shares have been traded, compared to an average intraday trading volume of 4.12 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.76%, 9.19%, and 47.06% respectively.

Institutional ownership of CymaBay Therapeutics Inc. (NASDAQ: CBAY) shares accounts for 81.20% of the company’s 68.88M shares outstanding. Mutual fund holders own 18.51%, while other institutional holders and individual stakeholders account for 58.79% and 0.83% respectively.

It has a market capitalization of $302.41M and a beta (3y monthly) value of 1.45. The earnings-per-share (ttm) stands at -$1.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.22% over the week and 7.29% over the month.

Analysts forecast that CymaBay Therapeutics Inc. (CBAY) will achieve an EPS of -$0.25 for the current quarter, -$0.24 for the next quarter and -$0.98 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.35 while analysts give the company a high EPS estimate of -$0.17. Comparatively, EPS for the current quarter was -$0.35 a year ago. Earnings per share for the fiscal year are expected to decrease by -22.20%, and -6.50% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate CymaBay Therapeutics Inc. (CBAY) as a “Strong Buy” at a consensus score of 1.70. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 0 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the CBAY, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on May 26, 2020, with the firm’s price target at $9. SVB Leerink coverage for the CymaBay Therapeutics Inc. (CBAY) stock in a research note released on May 12, 2020 offered a Outperform rating with a price target of $6. Stifel was of a view on May 12, 2020 that the stock is Buy, while ROTH Capital gave the stock Buy rating on May 12, 2020, issuing a price target of $15. Raymond James on their part issued Outperform rating on May 12, 2020.


Please enter your comment!
Please enter your name here