IDEAYA Biosciences (NASDAQ:IDYA) Hits New 12-Month High – Here’s Why

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) hit a new 52-week high on Tuesday . The company traded as high as $41.47 and last traded at $41.1150, with a volume of 80699 shares changing hands. The stock had previously closed at $40.04.

Analysts Set New Price Targets

Several equities research analysts recently commented on IDYA shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Friday, July 17th. Mizuho decreased their target price on shares of IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Wedbush raised their price target on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada dropped their price target on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.12.

IDEAYA Biosciences Stock Down 2.1%

The firm has a market cap of $3.65 billion, a P/E ratio of -21.43 and a beta of -0.10. The business’s 50 day moving average is $36.78 and its 200-day moving average is $33.05.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.16). The company had revenue of $8.86 million for the quarter, compared to the consensus estimate of $8.02 million. IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The company’s revenue was up 8800.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.88) earnings per share. As a group, equities analysts predict that IDEAYA Biosciences, Inc. will post -4.38 earnings per share for the current year.

Insider Activity

In other news, CAO Briseno Andres Ruiz sold 9,550 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total transaction of $382,095.50. Following the transaction, the chief accounting officer owned 26,466 shares of the company’s stock, valued at approximately $1,058,904.66. This trade represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.70% of the company’s stock.

Institutional Trading of IDEAYA Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of IDYA. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in IDEAYA Biosciences during the second quarter valued at approximately $1,452,000. California State Teachers Retirement System grew its position in shares of IDEAYA Biosciences by 3,522.2% in the 2nd quarter. California State Teachers Retirement System now owns 3,500,995 shares of the company’s stock worth $130,482,000 after acquiring an additional 3,404,340 shares in the last quarter. AXQ Capital LP acquired a new position in shares of IDEAYA Biosciences in the 2nd quarter worth approximately $753,000. Nykredit A S bought a new stake in shares of IDEAYA Biosciences in the 2nd quarter valued at approximately $76,000. Finally, Two Sigma Securities LLC bought a new stake in shares of IDEAYA Biosciences in the 2nd quarter valued at approximately $247,000. 98.29% of the stock is owned by institutional investors.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.