IDEAYA Biosciences (NASDAQ:IDYA) Stock Price Down 4.8% – Here’s What Happened

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) fell 4.8% during mid-day trading on Thursday . The company traded as low as $21.00 and last traded at $20.89. 65,359 shares were traded during mid-day trading, a decline of 92% from the average session volume of 821,337 shares. The stock had previously closed at $21.95.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IDYA. Stephens began coverage on IDEAYA Biosciences in a research report on Monday, November 18th. They issued an “overweight” rating and a $51.00 target price on the stock. Leerink Partners downgraded shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $41.00 to $27.00 in a research note on Tuesday, November 5th. Oppenheimer restated an “outperform” rating and issued a $53.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Finally, Leerink Partnrs downgraded shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Price Performance

The business’s 50 day moving average is $24.60 and its 200 day moving average is $30.18. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -9.21 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, February 18th. The company reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.86). As a group, analysts forecast that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Several large investors have recently bought and sold shares of the stock. KBC Group NV boosted its stake in IDEAYA Biosciences by 29.1% in the third quarter. KBC Group NV now owns 2,274 shares of the company’s stock valued at $72,000 after acquiring an additional 513 shares in the last quarter. Amalgamated Bank boosted its stake in IDEAYA Biosciences by 22.9% in the third quarter. Amalgamated Bank now owns 2,840 shares of the company’s stock valued at $90,000 after acquiring an additional 530 shares in the last quarter. Rhumbline Advisers boosted its stake in IDEAYA Biosciences by 0.5% in the fourth quarter. Rhumbline Advisers now owns 113,561 shares of the company’s stock valued at $2,919,000 after acquiring an additional 585 shares in the last quarter. US Bancorp DE boosted its stake in 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in IDEAYA Biosciences by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock valued at $94,000 after acquiring an additional 796 shares in the last quarter. 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.