IDEAYA Biosciences (NASDAQ:IDYA) Trading Down 7.8% – Time to Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) fell 7.8% during mid-day trading on Tuesday . The stock traded as low as $15.34 and last traded at $15.10. 321,759 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 861,164 shares. The stock had previously closed at $16.38.

Analyst Ratings Changes

IDYA has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of IDEAYA Biosciences in a report on Wednesday, January 15th. Stephens restated an “overweight” rating and set a $50.00 target price on shares of IDEAYA Biosciences in a report on Friday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Finally, Wedbush restated an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $53.58.

IDEAYA Biosciences Price Performance

The firm has a market cap of $1.43 billion, a PE ratio of -4.95 and a beta of 0.76. The stock has a 50 day simple moving average of $20.38 and a 200-day simple moving average of $25.41.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.82). The company had revenue of $7.00 million for the quarter, compared to the consensus estimate of $7.00 million. As a group, equities analysts predict that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. R Squared Ltd purchased a new position in IDEAYA Biosciences in the 4th quarter worth approximately $35,000. GF Fund Management CO. LTD. bought a new stake in shares of IDEAYA Biosciences in the 4th quarter worth $47,000. Daiwa Securities Group Inc. increased its holdings in shares of IDEAYA Biosciences by 44.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company’s stock worth $72,000 after purchasing an additional 853 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of IDEAYA Biosciences in the third quarter worth $83,000. Finally, KBC Group NV lifted its holdings in shares of IDEAYA Biosciences by 84.6% during the fourth quarter. KBC Group NV now owns 4,197 shares of the company’s stock valued at $108,000 after purchasing an additional 1,923 shares in the last quarter. Institutional investors 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.