BlackRock Fund Advisors has recently announced that it has increased stake in Cymabay Therapeutics Inc (NASDAQ:CBAY) by 5.53%. After grabbing 7.0 million shares, the institutional investor is now in possession of 0.37 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 6.17% having worth around $133.88 million. Moreover, RA Capital Management LP increased its share by 6.94 million to have a control over 6.94 million shares. And The Vanguard Group, Inc. raised its holdings to 0.59 million shares by acquiring 5.49 million shares or 4.84% of the stake.
Cymabay Therapeutics Inc (CBAY) concluded trading on 12/28/23 at a closing price of $23.99, with 2.4 million shares of worth about $57.6 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 205.99% during that period and on Thursday the price saw a loss of about -1.96%. Currently the company’s common shares owned by public are about 113.40M shares, out of which, 108.18M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 13 analysts are covering the CBAY stock and their offered price forecasts bring an average price target of $26.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $34.00 and could fall to a lowest price of $20.00. The stock’s current price level is 7.73% above of average price target set by the analysts, while a rise to estimated low would result in loss of -19.95% for the stock. However, touching the estimated high of $34.00 would mean a gain of 29.44% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 62 times over the past 12 months. They bought 585,559 shares in 31 of the transactions. In 31 selling transactions, insiders dumped 518,514 shares.
Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and FTIF SICAV – Biotechnology Discov are the top 3 mutual funds which are holding stakes in Cymabay Therapeutics Inc Vanguard Total Stock Market ETF is currently holding 3.47 million shares of worth totaling $66.44 million. The company recently came buying 5657.0 shares which brought its stake up to 3.06% of the company’s outstanding shares. iShares Russell 2000 ETF bought 1167.0 shares, after which its hold over company’s outstanding shares expand to 2.09%, leaving 2.37 million shares with the mutual fund that have a worth of about $45.42 million. FTIF SICAV – Biotechnology Discov, after selling 1.68 million shares, have now control over 1.48% of the stake in the company. It holds 25300.0 shares of worth $32.05 million.
However, the stock later moved at a day high price of 25.33, or with a loss of -1.96%. Stock saw a price change of 8.16% in past 5 days and over the past one month there was a price change of 33.06%. Year-to-date (YTD), CBAY shares are showing a performance of 282.62% which increased to 334.60% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $5.41 but also hit the highest price of $24.47 during that period. The average intraday trading volume for Cymabay Therapeutics Inc shares is 1.92 million. The stock is currently trading 11.73% above its 20-day simple moving average (SMA20), while that difference is up 30.33% for SMA50 and it goes to 83.64% higher than SMA200.
BlackRock Fund Advisors acquired 7.0 million shares of Cymabay Therapeutics Inc having value of about $133.88 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.37 million shares in the company valued at close to $8795021.88, or have control over 5.53% stake in the company. Cymabay Therapeutics Inc (NASDAQ: CBAY) currently have 113.40M outstanding shares and institutions hold larger chunk of about 93.28% of that. Holding of mutual funds in the company is about 59.97% while other institutional holders and individual stake holders have control over 9.65% and 33.32% of the stake respectively.
The stock has a current market capitalization of $2.72B and its 3Y-monthly beta is at 0.31. It has posted earnings per share of -$0.93 in the same period. It has Quick Ratio of 22.76 while making debt-to-equity ratio of 0.32. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CBAY, volatility over the week remained 4.64% while standing at 5.45% over the month.
Analysts are in expectations that Cymabay Therapeutics Inc (CBAY) stock would likely to be making an EPS of -$0.3 in the current quarter, while forecast for next quarter EPS is -$0.31 and it is -$1.36 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.35 which is -$0.23 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.3 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 22.83% while it is estimated to decrease by -46.24% in next year.
Analysts at 13 brokerage firms have issued recommendations for the Cymabay Therapeutics Inc (CBAY)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 13 Wall Street analysts, 13 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on August 14, 2023 offering a Buy rating for the stock and assigned a target price of $18 to it.
