IDEAYA Biosciences (NASDAQ:IDYA) Sets New 12-Month Low – Here’s Why

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $20.39 and last traded at $20.44, with a volume of 1046777 shares. The stock had previously closed at $21.00.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. UBS Group assumed coverage on IDEAYA Biosciences in a research report on Thursday, October 24th. They set a “buy” rating and a $50.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Leerink Partners cut IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Finally, Stephens reissued an “overweight” rating and issued a $50.00 target price on shares of IDEAYA Biosciences in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.58.

IDEAYA Biosciences Trading Down 2.7 %

The company has a 50 day simple moving average of $24.22 and a 200 day simple moving average of $29.64. The stock has a market capitalization of $1.77 billion, a PE ratio of -8.77 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The business had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $7.00 million. On average, equities research analysts predict that IDEAYA Biosciences, Inc. will post -2.45 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its stake in shares of IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after buying an additional 800 shares in the last quarter. Covestor Ltd raised its stake in shares of IDEAYA Biosciences by 23,050.0% during the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after buying an additional 922 shares in the last quarter. R Squared Ltd purchased a new position in shares of IDEAYA Biosciences during the 4th quarter worth approximately $35,000. US Bancorp DE raised its stake in shares of IDEAYA Biosciences by 67.2% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after buying an additional 689 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of IDEAYA Biosciences by 29.1% during the 3rd quarter. KBC Group NV now owns 2,274 shares of the company’s stock worth $72,000 after buying an additional 513 shares in the last quarter. 98.29% of the stock is 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.