IDEAYA Biosciences (NASDAQ:IDYA) Shares Gap Up to $35.00

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) gapped up prior to trading on Monday . The stock had previously closed at $35.00, but opened at $36.64. IDEAYA Biosciences shares last traded at $32.64, with a volume of 223,066 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Citigroup decreased their target price on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday. Mizuho assumed coverage on shares of IDEAYA Biosciences in a research note on Monday, July 8th. They set an “outperform” rating and a $50.00 price target for the company. Lifesci Capital upgraded IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Stifel Nicolaus raised their target price on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $56.00.

IDEAYA Biosciences Price Performance

The stock’s 50 day moving average is $38.54 and its 200-day moving average is $39.48.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.52%. During the same quarter in the previous year, the firm posted ($0.50) EPS. On average, analysts expect that IDEAYA Biosciences, Inc. will post -2.51 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors have recently modified their holdings of IDYA. Jump Financial LLC bought a new position in IDEAYA Biosciences during the 4th quarter valued at about $215,000. Dimensional Fund Advisors LP lifted its position in IDEAYA Biosciences by 12.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,286,300 shares of the company’s stock valued at $45,767,000 after purchasing an additional 144,058 shares during the period. Trexquant Investment LP boosted its holdings in IDEAYA Biosciences by 32.8% in the fourth quarter. Trexquant Investment LP now owns 21,984 shares of the company’s stock worth $782,000 after purchasing an additional 5,432 shares during the last quarter. Franklin Resources Inc. grew its position in IDEAYA Biosciences by 4.9% in the 4th quarter. Franklin Resources Inc. now owns 27,237 shares of the company’s stock worth $969,000 after purchasing an additional 1,260 shares during the period. Finally, TD Asset Management Inc raised its stake in IDEAYA Biosciences by 21.1% during the 4th quarter. TD Asset Management Inc now owns 137,690 shares of the company’s stock valued at $4,899,000 after buying an additional 24,034 shares during the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.