The share price of CymaBay Therapeutics Inc. (NASDAQ:CBAY) fell to $8.61 per share on Tuesday from $8.66. While CymaBay Therapeutics Inc. has underperformed by -0.58%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CBAY rose by 163.30%, with highs and lows ranging from $10.05 to $1.67, whereas the simple moving average jumped by 72.29% in the last 200 days.
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On March 09, 2023, BTIG Research started tracking CymaBay Therapeutics Inc. (NASDAQ: CBAY) recommending Buy. H.C. Wainwright also reiterated CBAY shares as ‘Buy’, quoting a target price of $13 on the company’s shares in a report dated August 04, 2020. Piper Sandler Initiated an Overweight rating on July 31, 2020, and assigned a price target of $12. H.C. Wainwright May 26, 2020d its ‘Neutral’ rating to ‘Buy’ for CBAY, as published in its report on May 26, 2020. SVB Leerink’s report from May 12, 2020 suggests a price prediction of $6 for CBAY shares, giving the stock a ‘Outperform’ rating. Stifel also rated the stock as ‘Buy’.
Analysis of CymaBay Therapeutics Inc. (CBAY)
To gain a thorough understanding of CymaBay Therapeutics Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -148.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 8.90, 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.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and CBAY is recording an average volume of 1.73M. On a monthly basis, the volatility of the stock is set at 6.41%, whereas on a weekly basis, it is put at 5.21%, with a loss of -2.38% over the past seven days. Furthermore, long-term investors anticipate a median target price of $13.50, showing growth from the present price of $8.61, 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?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. 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 0.34%. 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 76.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
At the end of the first quarter, The Vanguard Group, Inc. increased its CBAY holdings by 0.28% and now holds 3.64 million CBAY shares valued at $29.14 million with the added 10236.0 shares during the period. CBAY shares are owned by institutional investors to the tune of 76.30% at present.
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