CymaBay Therapeutics Inc. (CBAY) lost ground during morning trading on September 22 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the health care sector halfway through the trading day. At the lunch break, shares of CBAY have fallen 3.55% to $1.9 after closing the day prior at $1.97. So far, the stock has traded as high as $2.09 and as low as $1.9. Today’s decline has come with about 24,024 shares changing hands, compared to an average 30-day volume of 130,711 for CymaBay Therapeutics Inc.. The price is currently below the 30-day volume weighted average price of $1.96 for CBAY.
The share depreciation gives the company a market capitalization of $46.19 million based upon 23.45 million shares outstanding. It also means that CBAY has a price-to-book ratio of 3.0:1.
In the past 52 weeks, shares of CBAY have traded as low as $0.8201 and as high as $3.04. Technical traders will take note that at $1.9, shares of CBAY are trading above their 200-day MA at $1.75 and below their 50-day MA at $2.05. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is CBAY?
CymaBay Therapeutics Inc is a biopharmaceutical company is focused on developing therapies to treat metabolic diseases with unmet medical need, including serious rare and orphan disorders. Its clinical development candidates are MBX-8025 and arhalofenate. The company’s 21 employees are led by CEO Harold E. Van Wart from the corporate headquarters at 7999 Gateway Boulevard in Newark, CA.
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