IDEAYA Biosciences (NASDAQ:IDYA) Reaches New 12-Month Low – Here’s What Happened

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares hit a new 52-week low during trading on Thursday . The company traded as low as $25.20 and last traded at $25.35, with a volume of 60643 shares trading hands. The stock had previously closed at $25.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IDYA shares. UBS Group started coverage on shares of IDEAYA Biosciences in a research report on Thursday, October 24th. They issued a “buy” rating and a $50.00 target price for the company. Wedbush reaffirmed an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a research report on Monday, November 4th. Lifesci Capital upgraded IDEAYA Biosciences to a “strong-buy” rating in a report on Monday, July 29th. Oppenheimer reaffirmed an “outperform” rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Finally, Stifel Nicolaus upped their price objective on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Two equities research 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, IDEAYA Biosciences has an average rating of “Moderate Buy” and a consensus price target of $53.67.

IDEAYA Biosciences Stock Performance

The business has a 50-day moving average of $30.79 and a two-hundred day moving average of $36.00.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.03. During the same period in the prior year, the firm earned ($0.46) earnings per share. Analysts anticipate that IDEAYA Biosciences, Inc. will post -2.46 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its holdings in shares of IDEAYA Biosciences by 5.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock worth $288,000 after buying an additional 332 shares in the last quarter. KBC Group NV lifted its holdings in shares of IDEAYA Biosciences by 29.1% during the third quarter. KBC Group NV now owns 2,274 shares of the company’s stock valued at $72,000 after acquiring an additional 513 shares during the period. Amalgamated Bank boosted its stake in shares of IDEAYA Biosciences by 22.9% in the 3rd quarter. Amalgamated Bank now owns 2,840 shares of the company’s stock valued at $90,000 after purchasing an additional 530 shares in the last quarter. US Bancorp DE grew its holdings in shares of IDEAYA Biosciences by 67.2% in the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after purchasing an additional 689 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of IDEAYA Biosciences by 35.2% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

About IDEAYA Biosciences

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.