Cymabay Therapeutics, Inc. (NASDAQ:CBAY) Hits Highs with Strength in Pipeline

Cymabay Therapeutics, Inc. (NASDAQ:CBAY)

Cymabay Therapeutics, Inc. (NASDAQ:CBAY) was upgraded by H.C. Wainwright from “Neutral” to “Buy” at the end of January. However CBAY had already delivered some spectacular performance prior to that announcement. Last week CBAY shares gained over 37%, and YTD the stock is up over 85%. On Friday shares gained over 15%, on four times their average daily volumes, and the Relative Strength Indicator (RSI) was sitting at over 85 – overbought by most standards. Still, analysts have a price target of over $5.65 on CBAY.

SanFancisco, CA-based Cymabay Therapeutics, Inc. (NASDAQ:CBAY) is a clinical-stage biopharmaceutical company that develops therapies to treat metabolic diseases with high unmet medical need or serious rare and orphan diseases. Cymabay Therapeutics, Inc. (NASDAQ:CBAY) was seeded with the assets from an earlier biotechnology company that had a pipeline which was the result of over $120 million in development expenses. Their pipeline is more mature than many other firms in the biotech space.

 

According to the centers for Disease Control, 8.3 million U.S. adults are afflicted by this disease and gout’s prevalence grew by 1.2% over the previous two decades. MBX-8025 addresses aspects of metabolic syndrome, including improvements in insulin sensitivity and trends toward decreased waist circumference and body fat. Over half of the patients that entered the Phase 2 study meeting the criteria for metabolic syndrome no longer met the criteria at the end of the study. MBX-2982 demonstrated dose-dependent increases in drug exposure with a profile supporting once daily oral dosing that was safe and well tolerated with no serious adverse events, adverse event trends or dose-limiting toxicities. These results may provide clinical validation for the potential therapeutic benefits of MBX-2982 as a type 2 diabetes treatment.

Three firms follow Cymabay Therapeutics, Inc. (NASDAQ:CBAY) – one rates CAY as a “Buy”, while the other two rate the shares as a “Strong Buy”.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

2/17/2017
Ticker Symbol CBAY
Last Price a/o 8:00 PM EST  $                      3.24
Average Volume                    402,850
Market Cap (mlns)  $                    75.73
Sales (mlns) $0.00
Shares Outstanding (mlns) 23.45
Share Float (mlns) 23.13
Shortable Yes
Optionable No
Inside Ownership 0.10%
Short Float 1.53%
Short Interest Ratio 0.88
Quarterly Return 57.56%
YTD Return 86.71%
Year Return 180.87%