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

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $21.76 and last traded at $21.94, with a volume of 34428 shares changing hands. The stock had previously closed at $22.42.

Wall Street Analyst Weigh In

Several analysts have commented on IDYA shares. Leerink Partnrs downgraded IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Stephens started coverage on shares of IDEAYA Biosciences in a research report on Monday, November 18th. They issued an “overweight” rating and a $51.00 price objective on the stock. Wedbush reissued an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $53.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Stock Performance

The stock’s 50-day moving average price is $24.84 and its 200-day moving average price is $30.38. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -9.33 and a beta of 0.82.

Institutional Trading of IDEAYA Biosciences

Several large investors have recently bought and sold shares of the company. Covestor Ltd boosted its position in shares of IDEAYA Biosciences by 23,050.0% in the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after buying an additional 922 shares in the last quarter. Allworth Financial LP raised its position in IDEAYA Biosciences by 800.0% during the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after acquiring an additional 800 shares during the last quarter. R Squared Ltd purchased a new stake in shares of IDEAYA Biosciences in the fourth quarter valued at about $35,000. US Bancorp DE grew its position in shares of IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after purchasing an additional 689 shares during the last quarter. Finally, KBC Group NV grew its position in shares of IDEAYA Biosciences by 29.1% in the third quarter. KBC Group NV now owns 2,274 shares of the company’s stock valued at $72,000 after purchasing an additional 513 shares during 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.