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

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $13.80 and last traded at $14.00, with a volume of 61383 shares trading hands. The stock had previously closed at $14.71.

Analyst Ratings Changes

A number of brokerages recently weighed in on IDYA. Wedbush restated an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Stephens reaffirmed an “overweight” rating and set a $50.00 price objective on shares of IDEAYA Biosciences in a report on Friday, February 14th. Finally, Cantor Fitzgerald reaffirmed 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, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.58.

IDEAYA Biosciences Price Performance

The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -4.41 and a beta of 0.51. The company’s 50 day simple moving average is $20.05 and its 200 day simple moving average is $25.04.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.82). The firm had revenue of $7.00 million for the quarter, compared to analyst estimates of $7.00 million. As a group, analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Several large investors have recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in shares of IDEAYA Biosciences in the fourth quarter valued at about $35,000. GF Fund Management CO. LTD. purchased a new stake in shares of IDEAYA Biosciences during the 4th quarter worth approximately $47,000. Daiwa Securities Group Inc. raised its stake in shares of IDEAYA Biosciences by 44.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company’s stock worth $72,000 after buying an additional 853 shares during the last quarter. KBC Group NV raised its position in IDEAYA Biosciences by 84.6% during the fourth quarter. KBC Group NV now owns 4,197 shares of the company’s stock worth $108,000 after acquiring an additional 1,923 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of IDEAYA Biosciences in the fourth quarter valued at about $203,000. 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.