IDEAYA Biosciences Sees Unusually Large Options Volume (NASDAQ:IDYA)

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) saw unusually large options trading on Tuesday. Stock investors purchased 9,011 call options on the company. This represents an increase of approximately 2,681% compared to the average volume of 324 call options.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors have recently modified their holdings of IDYA. Baker BROS. Advisors LP raised its stake in IDEAYA Biosciences by 54.6% in the third quarter. Baker BROS. Advisors LP now owns 3,275,444 shares of the company’s stock valued at $89,125,000 after buying an additional 1,156,716 shares in the last quarter. Millennium Management LLC raised its position in shares of IDEAYA Biosciences by 345.2% during the 1st quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock worth $8,970,000 after acquiring an additional 424,625 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in IDEAYA Biosciences by 126.4% during the second quarter. Ensign Peak Advisors Inc now owns 741,833 shares of the company’s stock worth $15,593,000 after purchasing an additional 414,189 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in IDEAYA Biosciences by 1,619.5% in the third quarter. Balyasny Asset Management L.P. now owns 380,311 shares of the company’s stock valued at $10,348,000 after purchasing an additional 358,194 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in IDEAYA Biosciences by 191.2% in the third quarter. Dimensional Fund Advisors LP now owns 497,048 shares of the company’s stock valued at $13,525,000 after purchasing an additional 326,376 shares during the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IDYA has been the topic of a number of recent analyst reports. Wall Street Zen upgraded IDEAYA Biosciences from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. JPMorgan Chase & Co. boosted their target price on shares of IDEAYA Biosciences from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Tuesday, September 9th. JMP Securities initiated coverage on IDEAYA Biosciences in a report on Thursday, September 4th. They issued a “market outperform” rating and a $41.00 price objective on the stock. Finally, Citigroup reissued a “buy” rating on shares of IDEAYA Biosciences in a report on Tuesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.00.

IDEAYA Biosciences Stock Down 1.0%

Shares of IDEAYA Biosciences stock traded down $0.36 during mid-day trading on Tuesday, hitting $34.48. The stock had a trading volume of 506,217 shares, compared to its average volume of 1,137,066. The firm has a market cap of $3.02 billion, a P/E ratio of -18.54 and a beta of 0.04. The firm has a 50-day moving average of $33.13 and a two-hundred day moving average of $27.46. IDEAYA Biosciences has a 12-month low of $13.45 and a 12-month high of $37.08.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $1.45. The business had revenue of $207.83 million during the quarter, compared to analysts’ expectations of $59.98 million. Sell-side analysts expect that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

IDEAYA Biosciences Company Profile

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.