IDEAYA Biosciences (NASDAQ:IDYA) Shares Gap Down to $38.62

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $38.62, but opened at $36.75. IDEAYA Biosciences shares last traded at $36.26, with a volume of 767,847 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on IDYA shares. Citigroup lifted their price objective on IDEAYA Biosciences from $40.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Wedbush reiterated an “outperform” rating and set a $56.00 price target (up from $52.00) on shares of IDEAYA Biosciences in a research report on Monday. Stifel Nicolaus restated a “buy” rating and issued a $63.00 price objective on shares of IDEAYA Biosciences in a research report on Monday. BTIG Research raised their price objective on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group decreased their target price on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, May 13th. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $52.08.

IDEAYA Biosciences Stock Performance

The business’s 50-day moving average is $38.33 and its two-hundred day moving average is $40.70.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative return on equity of 20.09% and a negative net margin of 483.05%. During the same period last year, the business posted ($0.49) EPS. IDEAYA Biosciences’s revenue was down 100.0% on a year-over-year basis. Analysts anticipate that IDEAYA Biosciences, Inc. will post -2.37 EPS for the current fiscal year.

Insider Activity at IDEAYA Biosciences

In other IDEAYA Biosciences news, insider Michael Anthony White sold 28,500 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $36.24, for a total value of $1,032,840.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Yujiro S. Hata sold 56,711 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total value of $2,359,744.71. Following the sale, the chief executive officer now directly owns 677,887 shares in the company, valued at approximately $28,206,878.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Anthony White sold 28,500 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $36.24, for a total transaction of $1,032,840.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,644 shares of company stock valued at $4,832,228. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd increased its holdings in IDEAYA Biosciences by 9,225.0% in the 1st quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after purchasing an additional 1,107 shares during the last quarter. Comerica Bank raised its holdings in shares of IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after buying an additional 1,324 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new position in IDEAYA Biosciences during the 1st quarter worth about $67,000. AJOVista LLC purchased a new position in IDEAYA Biosciences during the 4th quarter valued at about $99,000. Finally, SG Americas Securities LLC acquired a new position in IDEAYA Biosciences in the 1st quarter valued at about $101,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.