IDEAYA Biosciences (NASDAQ:IDYA) Hits New 52-Week Low – Here’s Why

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) hit 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 traded. The stock had previously closed at $18.46.

Analyst Ratings Changes

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

IDEAYA Biosciences Stock Performance

The firm has a fifty day moving average of $22.66 and a 200 day moving average of $27.89. The firm has a market capitalization of $1.56 billion, a PE ratio of -5.41 and a beta of 0.76.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.82). The company had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $7.00 million. Research analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors have recently modified their holdings of the stock. FMR LLC increased its holdings in shares of IDEAYA Biosciences by 12.1% in the 3rd quarter. FMR LLC now owns 12,635,653 shares of the company’s stock valued at $400,297,000 after acquiring an additional 1,365,570 shares during the last quarter. RA Capital Management L.P. bought a new stake in IDEAYA Biosciences during the third quarter valued at $42,681,000. Janus Henderson Group PLC raised its holdings in shares of IDEAYA Biosciences by 26.7% during the third quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company’s stock worth $163,518,000 after purchasing an additional 1,086,356 shares during the period. Jennison Associates LLC lifted its position in shares of IDEAYA Biosciences by 136.6% in the 3rd quarter. Jennison Associates LLC now owns 972,266 shares of the company’s stock worth $30,801,000 after buying an additional 561,404 shares during the last quarter. Finally, Norges Bank bought a new position in shares of IDEAYA Biosciences in the 4th quarter worth about $13,385,000. 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.