IDEAYA Biosciences (NASDAQ:IDYA) Shares Gap Up – What’s Next?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares gapped up prior to trading on Friday . The stock had previously closed at $19.07, but opened at $19.56. IDEAYA Biosciences shares last traded at $19.20, with a volume of 16,109 shares traded.

Analysts Set New Price Targets

Several brokerages have issued reports on IDYA. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Wedbush reissued an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Stephens reissued an “overweight” rating and set a $50.00 price objective on shares of IDEAYA Biosciences in a research note on Friday, February 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set 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 issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.58.

IDEAYA Biosciences Stock Down 3.2 %

The company has a market cap of $1.62 billion, a P/E ratio of -5.59 and a beta of 0.76. The business has a fifty day moving average of $22.66 and a 200 day moving average of $27.97.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its 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 the consensus estimate of $7.00 million. On average, sell-side analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of institutional investors have recently added to or reduced their stakes in IDYA. Creative Planning bought a new position in IDEAYA Biosciences in the third quarter worth $275,000. US Bancorp DE raised its holdings in IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after purchasing an additional 689 shares in the last quarter. Amalgamated Bank raised its holdings in IDEAYA Biosciences by 22.9% in the third quarter. Amalgamated Bank now owns 2,840 shares of the company’s stock worth $90,000 after purchasing an additional 530 shares in the last quarter. Assetmark Inc. raised its holdings in IDEAYA Biosciences by 11.3% in the third quarter. Assetmark Inc. now owns 44,185 shares of the company’s stock worth $1,400,000 after purchasing an additional 4,481 shares in the last quarter. Finally, Covestor Ltd raised its holdings in IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after purchasing an additional 922 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

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.