CymaBay Therapeutics Inc (CBAY) was Downgraded by H.C. Wainwright to ” Neutral” and the brokerage firm has set the Price Target at $2.25. Earlier the firm had a rating of “Buy ” on the company shares. H.C. Wainwright advised their investors in a research report released on Jun 1, 2016.
CymaBay Therapeutics Inc opened for trading at $2.36 and hit $2.47 on the upside on Friday, eventually ending the session at $2.43, with a gain of 4.29% or 0.1 points. The heightened volatility saw the trading volume jump to 2,70,071 shares. Company has a market cap of $57 M.
In a different news, on Apr 19, 2016, Patrick J. Omara (VP, Business Development) purchased 5,000 shares at $1.64 per share price. According to the SEC, on Apr 19, 2016, Charles Mcwherter (Sr. Vice President) purchased 3,000 shares at $1.68 per share price. On Apr 6, 2016, Sujal Shah (CFO) purchased 55,000 shares at $1.39 per share price, according to the Form-4 filing with the securities and exchange commission.
CymaBay Therapeutics Inc. is a biopharmaceutical company. The Company is focused on developing therapies to treat metabolic diseases including serious rare and orphan disorders. Arhalofenate the Company’s lead product candidate is used to treat gout. The Company has completed five Phase II clinical trials of Arhalofenate in patients with gout. The Company’s second product candidate MBX-8025 is used to treat disorder linked to deficits in lipid storage handling and utilization many of which result in metabolic disorders. The Company has completed five Phase I and one Phase II clinical trials of MBX-8025. The Company’s MBX-2982 is a treatment for type 2 diabetes that targets G protein-coupled receptor 119 (GPR119) a receptor that interacts with bioactive lipids known to stimulate glucose-dependent insulin secretion. MBX-2982 has completed four Phase I studies and one Phase II study.