IDEAYA Biosciences (NASDAQ:IDYA) Sets New 1-Year Low – Here’s What Happened

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s share price reached a new 52-week low on Monday . The stock traded as low as $18.06 and last traded at $18.17, with a volume of 28397 shares trading hands. The stock had previously closed at $18.46.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Stephens reissued an “overweight” rating and set a $50.00 price target on shares of IDEAYA Biosciences in a research report on Friday, February 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a report on Wednesday, January 15th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average target price of $53.58.

IDEAYA Biosciences Stock Down 3.4 %

The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -5.41 and a beta of 0.76. The company’s 50-day moving average is $22.66 and its 200-day moving average is $27.89.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share (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 the consensus estimate of $7.00 million. Sell-side analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

Several hedge funds have recently made changes to their positions in IDYA. FMR LLC increased its stake in IDEAYA Biosciences by 2.6% during the 4th quarter. FMR LLC now owns 12,963,151 shares of the company’s stock worth $333,153,000 after buying an additional 327,498 shares during the period. Janus Henderson Group PLC increased its position in shares of IDEAYA Biosciences by 13.5% during the fourth quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company’s stock worth $150,606,000 after acquiring an additional 695,263 shares during the period. Vanguard Group Inc. raised its stake in shares of IDEAYA Biosciences by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 5,078,084 shares of the company’s stock valued at $130,507,000 after acquiring an additional 282,936 shares in the last quarter. State Street Corp boosted its holdings in IDEAYA Biosciences by 15.4% in the third quarter. State Street Corp now owns 3,317,936 shares of the company’s stock valued at $105,112,000 after purchasing an additional 443,640 shares during the period. Finally, Deerfield Management Company L.P. Series C grew its stake in IDEAYA Biosciences by 5.5% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,736,000 shares of the company’s stock worth $70,315,000 after purchasing an additional 142,000 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

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.