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

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $20.39 and last traded at $20.44, with a volume of 1046777 shares traded. The stock had previously closed at $21.00.

Wall Street Analyst Weigh In

IDYA has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Wedbush restated an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Leerink Partners downgraded IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Oppenheimer restated an “outperform” rating and issued a $53.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Finally, UBS Group assumed coverage on IDEAYA Biosciences in a research report on Thursday, October 24th. They issued a “buy” rating and a $50.00 target price on the stock. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.58.

IDEAYA Biosciences Trading Down 2.7 %

The stock has a market cap of $1.77 billion, a PE ratio of -8.77 and a beta of 0.82. The company has a fifty day moving average of $24.22 and a 200-day moving average of $29.64.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate 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. As a group, research analysts anticipate that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its stake in IDEAYA Biosciences by 15.4% during the 3rd quarter. State Street Corp now owns 3,317,936 shares of the company’s stock worth $105,112,000 after purchasing an additional 443,640 shares in the last quarter. Barclays PLC boosted its position in shares of IDEAYA Biosciences by 188.8% during the 3rd quarter. Barclays PLC now owns 181,170 shares of the company’s stock worth $5,739,000 after acquiring an additional 118,438 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of IDEAYA Biosciences by 12.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 689,073 shares of the company’s stock worth $21,830,000 after acquiring an additional 78,518 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of IDEAYA Biosciences during the 3rd quarter worth about $246,000. Finally, General American Investors Co. Inc. acquired a new position in shares of IDEAYA Biosciences during the 3rd quarter worth about $2,851,000. 98.29% of the stock is 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.