Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With CBAY Stock Today?
CymaBay Therapeutics Inc (CBAY) stock is trading at $3.44 as of 1:29 PM on Wednesday, Oct 5, a loss of -$0.12, or -3.24% from the previous closing price of $3.55. The stock has traded between $3.40 and $3.50 so far today. Volume today is 397,965 compared to average volume of 410,949.
More About CymaBay Therapeutics Inc
CymaBay Therapeutics Inc is a clinical-stage biopharmaceutical company. Its main business involves the development of therapeutics such as Arhalofenate, MBX-8025, and MBX-2982. These drugs are intended to treat serious metabolic disorders. Arhalofenate is used to treat gout, MBX-2982 is an oral, G-protein coupled receptor agonist being evaluated as a therapeutic agent for patients with Type 2 diabetes and MBX-8025 is a selective agonist for the peroxisome proliferator-activated receptor delta.
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