IDEAYA Biosciences (NASDAQ:IDYA) Hits New 52-Week Low – Here’s What Happened

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $21.76 and last traded at $21.94, with a volume of 34428 shares changing hands. The stock had previously closed at $22.42.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Stephens started coverage on shares of IDEAYA Biosciences in a research note on Monday, November 18th. They issued an “overweight” rating and a $51.00 target price for the company. Oppenheimer reissued an “outperform” rating and issued a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Wedbush reaffirmed an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Trading Down 3.1 %

The stock’s 50 day moving average price is $24.84 and its 200 day moving average price is $30.38. The firm has a market cap of $1.88 billion, a PE ratio of -9.33 and a beta of 0.82.

Hedge Funds Weigh In On IDEAYA Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in IDYA. Creative Planning acquired a new stake in IDEAYA Biosciences in the third quarter valued at $275,000. Values First Advisors Inc. bought a new stake in shares of IDEAYA Biosciences in the 3rd quarter worth about $74,000. Allworth Financial LP raised its stake in shares of IDEAYA Biosciences by 800.0% in the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after purchasing an additional 800 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of IDEAYA Biosciences by 35.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock worth $94,000 after purchasing an additional 796 shares during the last quarter. Finally, abrdn plc acquired a new position in IDEAYA Biosciences in the third quarter worth about $7,376,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.