IDEAYA Biosciences (NASDAQ:IDYA) Shares Down 6.2%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price dropped 6.2% during mid-day trading on Thursday . The stock traded as low as $29.72 and last traded at $29.72. Approximately 451,393 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 863,756 shares. The stock had previously closed at $31.70.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IDYA. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, September 24th. Mizuho started coverage on shares of IDEAYA Biosciences in a report on Monday, July 8th. They issued an “outperform” rating and a $50.00 price objective on the stock. BTIG Research increased their price objective on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Stifel Nicolaus lifted their target price on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Citigroup decreased their price target on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $56.00.

IDEAYA Biosciences Stock Down 7.7 %

The company’s fifty day moving average price is $37.24 and its 200 day moving average price is $38.95. The company has a market capitalization of $2.21 billion, a P/E ratio of -14.55 and a beta of 0.84.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data 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 return on equity of 20.52% and a negative net margin of 483.05%. During the same period in the prior year, the business posted ($0.50) EPS. Research analysts predict that IDEAYA Biosciences, Inc. will post -2.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Light Asset Management LLC bought a new position in IDEAYA Biosciences in the 4th quarter valued at about $12,299,000. Superstring Capital Management LP bought a new position in IDEAYA Biosciences in the fourth quarter valued at approximately $8,941,000. Vanguard Group Inc. raised its position in IDEAYA Biosciences by 17.0% during the fourth quarter. Vanguard Group Inc. now owns 3,475,772 shares of the company’s stock valued at $123,668,000 after purchasing an additional 504,275 shares in the last quarter. Entropy Technologies LP bought a new stake in IDEAYA Biosciences during the first quarter worth $679,000. Finally, Jennison Associates LLC bought a new stake in IDEAYA Biosciences during the first quarter worth $11,244,000. 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.