IDEAYA Biosciences (NASDAQ:IDYA) Hits New 1-Year Low – Should You Sell?

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

Analysts Set New Price Targets

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

IDEAYA Biosciences Stock Performance

The stock has a market capitalization of $1.26 billion, a P/E ratio of -4.41 and a beta of 0.51. The stock has a 50-day simple moving average of $20.05 and a 200 day simple moving average of $25.04.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results 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 company had revenue of $7.00 million for the quarter, compared to analyst estimates of $7.00 million. Equities analysts predict that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

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