IDEAYA Biosciences (NASDAQ:IDYA) Sets New 12-Month Low – Should You Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $27.50 and last traded at $27.51, with a volume of 172637 shares trading hands. The stock had previously closed at $29.47.

Analyst Ratings Changes

IDYA has been the subject of several recent research reports. Citigroup reduced their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Cantor Fitzgerald began coverage on IDEAYA Biosciences in a report on Tuesday, October 15th. They set an “overweight” rating for the company. Leerink Partnrs cut IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Leerink Partners cut IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $41.00 to $27.00 in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their price objective on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.91.

IDEAYA Biosciences Trading Down 8.5 %

The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -11.74 and a beta of 0.86. The business has a 50-day moving average price of $31.61 and a two-hundred day moving average price of $36.46.

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 last year, the firm posted ($0.46) earnings per share. On average, equities research analysts predict that IDEAYA Biosciences, Inc. will post -2.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in IDEAYA Biosciences during the 1st quarter worth $101,000. Oppenheimer & Co. Inc. bought a new position in shares of IDEAYA Biosciences in the 1st quarter valued at about $217,000. Swiss National Bank grew its holdings in shares of IDEAYA Biosciences by 30.9% in the 1st quarter. Swiss National Bank now owns 111,400 shares of the company’s stock valued at $4,888,000 after acquiring an additional 26,300 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of IDEAYA Biosciences by 21.1% in the 1st quarter. ProShare Advisors LLC now owns 17,047 shares of the company’s stock valued at $748,000 after acquiring an additional 2,966 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in IDEAYA Biosciences in the 1st quarter valued at about $679,000. 98.29% of the stock is currently owned by 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.