In Tuesday’s session, CymaBay Therapeutics Inc. (NASDAQ:CBAY) marked $3.48 per share, up from $3.21 in the previous session. While CymaBay Therapeutics Inc. has overperformed by 8.41%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CBAY fell by -12.56%, with highs and lows ranging from $4.74 to $1.67, whereas the simple moving average jumped by 12.48% in the last 200 days.
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On April 11, 2022, Cantor Fitzgerald started tracking CymaBay Therapeutics Inc. (NASDAQ: CBAY) recommending Overweight. A report published by H.C. Wainwright on August 04, 2020, Reiterated its previous ‘Buy’ rating for CBAY. Piper Sandler also rated CBAY shares as ‘Overweight’, setting a target price of $12 on the company’s shares in an initiating report dated July 31, 2020. SVB Leerink May 12, 2020d its ‘Mkt Perform’ rating to ‘Outperform’ for CBAY, as published in its report on May 12, 2020. Stifel’s report from May 12, 2020 suggests a price prediction of $8 for CBAY shares, giving the stock a ‘Buy’ rating. ROTH Capital also rated the stock as ‘Buy’.
Analysis of CymaBay Therapeutics Inc. (CBAY)
CymaBay Therapeutics Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -92.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 13.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and CBAY has an average volume of 800.34K. On a monthly basis, the volatility of the stock is set at 8.04%, whereas on a weekly basis, it is put at 7.02%, with a gain of 6.75% over the past seven days. Furthermore, long-term investors anticipate a median target price of $9.89, showing growth from the present price of $3.48, which can serve as yet another indication of whether CBAY is worth investing in or should be passed over.
How Do You Analyze CymaBay Therapeutics Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 79.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in CBAY shares?
The recent increase in stakes in CBAY appears to be a result of several institutional investors and hedge funds increasing their positions. Avoro Capital Advisor LLC’s position in CBAY has decreased by 0.00% in the first quarter. The company now owns 10,300,000 shares of the stock, with a value of $30.39 million, following the sale of 0 additional shares during the last quarter. TCG Crossover Management LLC made another decreased to its shares in CBAY during the first quarter, downing its stake by 0.00%. During the last quarter, the company picked up 0 additional shares for a total stake of worth $17.42 million, bringing number of shares owned by the company to 5,905,400.
During the first quarter, Commodore Capital LP added a 318,604 position in CBAY. BlackRock Fund Advisors purchased an additional 0.12 million shares in the last quarter, increasing its holdings by 2.39%, now holding 4.98 million shares worth $14.68 million. At the end of the first quarter, The Vanguard Group, Inc. increased its CBAY holdings by 1.55% and now holds 3.78 million CBAY shares valued at $11.16 million with the added 57802.0 shares during the period. CBAY shares are owned by institutional investors to the tune of 79.30% at present.