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

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $24.48 and last traded at $24.93, with a volume of 96045 shares changing hands. The stock had previously closed at $25.59.

Analyst Upgrades and Downgrades

IDYA has been the subject of a number of recent analyst reports. Oppenheimer restated an “outperform” rating and issued a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Wedbush reaffirmed an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Tuesday. Leerink Partnrs downgraded shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus raised their price target on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.67.

IDEAYA Biosciences Price Performance

The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -10.99 and a beta of 0.79. The firm has a fifty day moving average of $28.28 and a 200 day moving average of $34.01.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same period in the previous year, the firm earned ($0.46) earnings per share. Research analysts anticipate that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP grew its holdings in shares of IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after purchasing an additional 800 shares during the period. Covestor Ltd raised its holdings in IDEAYA Biosciences by 23,050.0% in the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after buying an additional 922 shares during the period. Quest Partners LLC acquired a new position in IDEAYA Biosciences in the second quarter valued at about $41,000. US Bancorp DE boosted its stake in IDEAYA Biosciences by 67.2% during the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after buying an additional 689 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of IDEAYA Biosciences by 637.9% during the second quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock valued at $68,000 after acquiring an additional 1,684 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.