Fintel reports that on September 26, 2023, UBS maintained coverage of Cymabay Therapeutics (NASDAQ:CBAY) with a Buy recommendation.
Analyst Price Forecast Suggests 27.62% Upside
As of August 31, 2023, the average one-year price target for Cymabay Therapeutics is 18.28. The forecasts range from a low of 15.15 to a high of $23.10. The average price target represents an increase of 27.62% from its latest reported closing price of 14.32.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cymabay Therapeutics is 0MM, a decrease of 100.00%. The projected annual non-GAAP EPS is -1.29.
What is the Fund Sentiment?
There are 286 funds or institutions reporting positions in Cymabay Therapeutics. This is an increase of 75 owner(s) or 35.55% in the last quarter. Average portfolio weight of all funds dedicated to CBAY is 0.32%, a decrease of 17.66%. Total shares owned by institutions increased in the last three months by 7.13% to 100,288K shares. 
The put/call ratio of CBAY is 0.89, indicating a bullish outlook.
What are Other Shareholders Doing?
Avoro Capital Advisors holds 10,300K shares representing 9.30% ownership of the company. No change in the last quarter.
Janus Henderson Group holds 7,747K shares representing 7.00% ownership of the company. In it's prior filing, the firm reported owning 7,496K shares, representing an increase of 3.23%. The firm increased its portfolio allocation in CBAY by 20.82% over the last quarter.
Octagon Capital Advisors holds 4,571K shares representing 4.13% ownership of the company. No change in the last quarter.
Adage Capital Partners Gp, L.l.c. holds 4,401K shares representing 3.98% ownership of the company. In it's prior filing, the firm reported owning 4,399K shares, representing an increase of 0.04%. The firm increased its portfolio allocation in CBAY by 21.69% over the last quarter.
Cormorant Asset Management holds 3,800K shares representing 3.43% ownership of the company. In it's prior filing, the firm reported owning 1,271K shares, representing an increase of 66.54%. The firm increased its portfolio allocation in CBAY by 219.23% over the last quarter.
Cymabay Therapeutics Background Information
(This description is provided by the company.)
CymaBay Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing therapies for liver and other chronic diseases with high unmet medical need. CymaBay is developing seladelpar, a potent, selective, orally active PPARδ agonist for patients with primary biliary cholangitis (PBC). Seladelpar has received an orphan designation from the US Food and Drug administration (FDA) and the European Medicine Agency (EMA). Seladelpar also received Breakthrough Therapy Designation from the FDA for early stage PBC and PRIority MEdicines status from the EMA. CymaBay is currently commencing a global, Phase 3 registration study of seladelpar for PBC. This study is a 52-week, placebo-controlled, randomized, phase 3 study to evaluate the safety and efficacy of seladelpar (RESPONSE) in patients with PBC.
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