CymaBay Therapeutics Inc. (NASDAQ:CBAY) price on Friday, March 17, rose 4.92% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $9.59.
A look at the stock’s price movement, the close in the last trading session was $9.14, moving within a range at $9.05 and $10.05. The beta value (5-Year monthly) was 0.21. Turning to its 52-week performance, $9.54 and $1.67 were the 52-week high and 52-week low respectively. Overall, CBAY moved 20.33% over the past month.
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CymaBay Therapeutics Inc.’s market cap currently stands at around $978.28 million, with investors looking forward to this quarter’s earnings report slated for May 10, 2023 – May 15, 2023. Analysts project the company’s earnings per share (EPS) to be -$0.3, which has seen fiscal year 2022 EPS growth forecast to increase to -$1.22 and about -$1.06 for fiscal year 2023. Per the data, EPS growth is expected to be 3.90% for 2023 and 13.10% for the next financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that CBAY is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
10 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 10 recommend CBAY as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CBAY’s current price about 12.95% and 22.29% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 66.25, while 7-day volatility ratio is 8.86% and 6.56% in the 30-day chart. Further, CymaBay Therapeutics Inc. (CBAY) has a beta value of 0.25, and an average true range (ATR) of 0.56.
In the market, a comparison of CymaBay Therapeutics Inc. (CBAY) and its peers suggest the former has performed considerably stronger. Data shows CBAY’s intraday price has changed 4.92% in last session and 214.43% over the past year. Comparatively, Bristol-Myers Squibb Company (BMY) has moved -0.85% on the day and only -4.49% in the past 12 months. Looking at another peer, we see that Pfizer Inc. (PFE) price has dipped -0.67% on the day. However, the stock is -24.23% off its price a year ago. Moreover, Xencor Inc. (XNCR) is also down -0.99% in trading on the day while keeping a a downtrend of -0.32% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.
If we refocus on CymaBay Therapeutics Inc. (NASDAQ:CBAY), historical trading data shows that trading volumes averaged 1.92 million over the past 10 days and 1.57 million over the past 3 months. The company’s latest data on shares outstanding shows there are 87.80 million shares.
The 0.35% of CymaBay Therapeutics Inc.’s shares are in the hands of company insiders while institutional holders own 76.30% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.43 million on Jan 30, 2023, giving us a short ratio of 2.51. The data shows that as of Jan 30, 2023 short interest in CymaBay Therapeutics Inc. (CBAY) stood at 4.68% of shares outstanding, with shares short rising to 3.71 million registered in Dec 29, 2022. Current price change has pushed the stock 52.95% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CBAY stock continues to rise going into the next quarter.