IDEAYA Biosciences (NASDAQ:IDYA) Shares Down 2.2%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price fell 2.2% during trading on Wednesday . The company traded as low as $35.01 and last traded at $35.01. 29,583 shares traded hands during trading, a decline of 96% from the average session volume of 837,373 shares. The stock had previously closed at $35.78.

Analysts Set New Price Targets

A number of research firms recently commented on IDYA. JPMorgan Chase & Co. lowered their price target on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Oppenheimer decreased their target price on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Lifesci Capital raised shares of IDEAYA Biosciences to a “strong-buy” rating in a report on Monday, July 29th. Citigroup decreased their target price on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, Wedbush reissued an “outperform” rating and issued a $54.00 target price on shares of IDEAYA Biosciences in a report on Wednesday, August 7th. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, IDEAYA Biosciences has a consensus rating of “Buy” and a consensus price target of $56.20.

IDEAYA Biosciences Trading Up 1.5 %

The firm’s 50-day moving average is $39.02 and its 200 day moving average is $39.83. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -17.55 and a beta of 0.84.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative return on equity of 20.52% and a negative net margin of 483.05%. During the same quarter last year, the company earned ($0.50) EPS. Analysts predict that IDEAYA Biosciences, Inc. will post -2.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its position in shares of IDEAYA Biosciences by 5.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock valued at $288,000 after acquiring an additional 332 shares during the period. Principal Financial Group Inc. lifted its position in shares of IDEAYA Biosciences by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 15,275 shares of the company’s stock valued at $670,000 after acquiring an additional 648 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of IDEAYA Biosciences by 38.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock valued at $117,000 after acquiring an additional 927 shares during the period. Covestor Ltd lifted its position in shares of IDEAYA Biosciences by 9,225.0% during the 1st quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after acquiring an additional 1,107 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of IDEAYA Biosciences during the 2nd quarter valued at $41,000. 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.