IDEAYA Biosciences (NASDAQ:IDYA) Shares Gap Up to $35.00

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) gapped up before the market opened on Monday . The stock had previously closed at $35.00, but opened at $36.64. IDEAYA Biosciences shares last traded at $32.64, with a volume of 223,066 shares.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $54.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, August 7th. Oppenheimer lowered their target price on IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Lifesci Capital upgraded IDEAYA Biosciences to a “strong-buy” rating in a report on Monday, July 29th. Stifel Nicolaus increased their price objective on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. cut their target price on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $56.20.

IDEAYA Biosciences Trading Down 3.7 %

The firm’s 50 day moving average price is $38.92 and its two-hundred day moving average price is $39.66. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -16.29 and a beta of 0.84.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.52%. During the same period in the prior year, the business posted ($0.50) earnings per share. As a group, equities research analysts predict that IDEAYA Biosciences, Inc. will post -2.51 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Covestor Ltd boosted its stake in shares of IDEAYA Biosciences by 9,225.0% in the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after buying an additional 1,107 shares during the period. Quest Partners LLC acquired a new stake in shares of IDEAYA Biosciences during the 2nd quarter worth $41,000. Comerica Bank raised its stake in IDEAYA Biosciences by 723.5% in the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after purchasing an additional 1,324 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in IDEAYA Biosciences during the first quarter worth about $67,000. Finally, Daiwa Securities Group Inc. grew its stake in IDEAYA Biosciences by 637.9% during the second quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock worth $68,000 after buying an additional 1,684 shares in the last quarter. 98.29% of the stock is owned by institutional investors.

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.