IDEAYA Biosciences (NASDAQ:IDYA) Sets New 52-Week Low – Here’s Why

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $24.20 and last traded at $24.78, with a volume of 198250 shares trading hands. The stock had previously closed at $25.16.

Analyst Ratings Changes

A number of research firms have recently weighed in on IDYA. UBS Group initiated coverage on IDEAYA Biosciences in a report on Thursday, October 24th. They issued a “buy” rating and a $50.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Wedbush reaffirmed an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Finally, Oppenheimer restated an “outperform” rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IDEAYA Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $53.67.

IDEAYA Biosciences Stock Performance

The firm has a fifty day moving average of $27.75 and a 200-day moving average of $33.47. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -10.59 and a beta of 0.79.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same period in the previous year, the company earned ($0.46) EPS. On average, analysts predict that IDEAYA Biosciences, Inc. will post -2.45 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of IDYA. Bank of New York Mellon Corp raised its position in shares of IDEAYA Biosciences by 43.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 316,492 shares of the company’s stock valued at $11,112,000 after purchasing an additional 95,129 shares in the last quarter. Rhumbline Advisers raised its stake in shares of IDEAYA Biosciences by 9.7% in the 2nd quarter. Rhumbline Advisers now owns 105,797 shares of the company’s stock valued at $3,715,000 after purchasing an additional 9,387 shares in the last quarter. Fiera Capital Corp lifted its position in shares of IDEAYA Biosciences by 22.6% during the second quarter. Fiera Capital Corp now owns 1,335,410 shares of the company’s stock worth $46,886,000 after purchasing an additional 246,010 shares during the last quarter. Victory Capital Management Inc. grew its stake in IDEAYA Biosciences by 10.3% in the second quarter. Victory Capital Management Inc. now owns 316,105 shares of the company’s stock worth $11,098,000 after purchasing an additional 29,600 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in IDEAYA Biosciences by 14.3% in the second quarter. Arizona State Retirement System now owns 17,742 shares of the company’s stock valued at $623,000 after buying an additional 2,225 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.