Healthy Upside Potential: CymaBay Therapeutics Inc. (CBAY)

CymaBay Therapeutics Inc. (NASDAQ: CBAY) stock jumped 3.89% on Friday to $6.94 against a previous-day closing price of $6.68. With 2.56 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.71 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $7.14 whereas the lowest price it dropped to was $6.61. The 52-week range on CBAY shows that it touched its highest point at $7.06 and its lowest point at $1.67 during that stretch. It currently has a 1-year price target of $10.44. Beta for the stock currently stands at 0.11.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CBAY was up-trending over the past week, with a rise of 12.85%, but this was up by 56.31% over a month. Three-month performance surged to 107.78% while six-month performance rose 123.15%. The stock gained 136.86% in the past year, while it has gained 10.69% so far this year. A look at the trailing 12-month EPS for CBAY yields -1.25 with Next year EPS estimates of -1.11. For the next quarter, that number is -0.30. This implies an EPS growth rate of -71.10% for this year and 9.00% for next year.

Float and Shares Shorts:

At present, 87.80 million CBAY shares are outstanding with a float of 80.92 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.74 million, which was 2.06% higher than short shares on Sep 14, 2022. In addition to Mr. Sujal A. Shah as the firm’s Pres, CEO & Director, Dr. Dennis D. Kim M.B.A., M.D., MBA serves as its Chief Medical Officer.


Institutional Ownership:

Through their ownership of 76.51% of CBAY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.96% of CBAY, in contrast to 60.18% held by mutual funds. Shares owned by individuals account for 12.92%. As the largest shareholder in CBAY with 12.16% of the stake, Avoro Capital Advisor LLC holds 10,300,000 shares worth 10,300,000. A second-largest stockholder of CBAY, TCG Crossover Management LLC, holds 5,905,400 shares, controlling over 6.97% of the firm’s shares. Commodore Capital LP is the third largest shareholder in CBAY, holding 5,738,500 shares or 6.78% stake. With a 2.83% stake in CBAY, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,398,201 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.33% of CBAY stock, is the second-largest Mutual Fund holder. It holds 1,121,963 shares valued at 7.03 million. FCP Medical – BioHealth holds 0.90% of the stake in CBAY, owning 760,005 shares worth 4.77 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CBAY since 9 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CBAY analysts setting a high price target of $17.00 and a low target of $8.00, the average target price over the next 12 months is $10.44. Based on these targets, CBAY could surge 144.96% to reach the target high and rise by 15.27% to reach the target low. Reaching the average price target will result in a growth of 50.43% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CBAY will report FY 2022 earnings on 03/15/2024. Analysts have provided yearly estimates in a range of -$1.11 being high and -$1.50 being low. For CBAY, this leads to a yearly average estimate of -$1.23. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CymaBay Therapeutics Inc. surprised analysts by $0.02 when it reported -$0.28 EPS against a consensus estimate of -$0.30. The surprise factor in the prior quarter was -$0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.25 and the low estimate is -$0.34. The average estimate for the next quarter is thus -$0.30.

Summary of Insider Activity:

Insiders traded CBAY stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 51,301 while 0 shares were sold.

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