IDEAYA Biosciences (NASDAQ:IDYA) Sees Unusually-High Trading Volume – What’s Next?

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) saw strong trading volume on Wednesday . 409,227 shares were traded during mid-day trading, a decline of 53% from the previous session’s volume of 867,331 shares.The stock last traded at $26.64 and had previously closed at $26.78.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IDYA shares. Stifel Nicolaus boosted their target price on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Leerink Partners lowered shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $41.00 to $27.00 in a research note on Tuesday, November 5th. JPMorgan Chase & Co. cut their target price on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Citigroup lowered their price target on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, Stephens started coverage on IDEAYA Biosciences in a research report on Monday, November 18th. They set an “overweight” rating and a $51.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Stock Up 0.8 %

The firm has a market capitalization of $2.33 billion, a P/E ratio of -11.58 and a beta of 0.86. The business has a 50-day moving average price of $29.68 and a 200-day moving average price of $35.42.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter last year, the firm posted ($0.46) earnings per share. As a group, sell-side analysts forecast that IDEAYA Biosciences, Inc. will post -2.46 EPS for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Large investors have recently modified their holdings of the stock. Allworth Financial LP grew its position in IDEAYA Biosciences by 800.0% in the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after acquiring an additional 800 shares during the period. Covestor Ltd boosted its position in IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after buying an additional 922 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of IDEAYA Biosciences during the second quarter worth approximately $41,000. US Bancorp DE raised its stake in shares of IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after acquiring an additional 689 shares during the last quarter. Finally, Comerica Bank boosted 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 worth $66,000 after acquiring an additional 1,324 shares in the last quarter. 98.29% of the stock is currently owned by 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.