IDEAYA Biosciences (NASDAQ:IDYA) Hits New 12-Month Low – Here’s Why

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s share price reached a new 52-week low on Friday . The company traded as low as $23.98 and last traded at $24.43, with a volume of 25948 shares changing hands. The stock had previously closed at $24.85.

Analyst Ratings Changes

IDYA has been the topic of several recent research reports. Leerink Partners lowered IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and cut their target price for the company from $41.00 to $27.00 in a report on Tuesday, November 5th. Oppenheimer reiterated an “outperform” rating and issued a $53.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Wedbush reiterated an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Price Performance

The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -10.31 and a beta of 0.82. The stock’s 50 day simple moving average is $26.89 and its two-hundred day simple moving average is $32.66.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same period last year, the company earned ($0.46) EPS. As a group, analysts predict that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in IDYA. Allworth Financial LP boosted its position in IDEAYA Biosciences by 800.0% in the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after buying an additional 800 shares in the last quarter. Covestor Ltd raised its stake in shares of IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after acquiring an additional 922 shares during the last quarter. Quest Partners LLC acquired a new position in shares of IDEAYA Biosciences in the 2nd quarter worth approximately $41,000. US Bancorp DE grew its position in IDEAYA Biosciences by 67.2% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after acquiring an additional 689 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in IDEAYA Biosciences by 637.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock valued at $68,000 after purchasing an additional 1,684 shares in the last quarter. 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.