IDEAYA Biosciences (NASDAQ:IDYA) Trading Down 3.2%

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) fell 3.2% during trading on Thursday . The company traded as low as $38.88 and last traded at $38.90. 88,103 shares were traded during trading, a decline of 90% from the average session volume of 847,028 shares. The stock had previously closed at $40.17.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IDYA. Capital One Financial restated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Thursday, February 22nd. BTIG Research began coverage on shares of IDEAYA Biosciences in a research note on Friday, March 8th. They set a “buy” rating and a $55.00 price target for the company. Royal Bank of Canada upped their target price on shares of IDEAYA Biosciences from $43.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. The Goldman Sachs Group upped their target price on shares of IDEAYA Biosciences from $36.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of IDEAYA Biosciences in a research note on Friday, February 23rd. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $44.55.

IDEAYA Biosciences Trading Down 5.6 %

The stock’s fifty day moving average is $44.19 and its two-hundred day moving average is $36.93. The company has a market capitalization of $2.83 billion, a PE ratio of -19.65 and a beta of 0.80.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). The company had revenue of $3.90 million during the quarter, compared to analysts’ expectations of $8.84 million. IDEAYA Biosciences had a negative return on equity of 23.00% and a negative net margin of 483.05%. IDEAYA Biosciences’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, analysts anticipate that IDEAYA Biosciences, Inc. will post -2.26 EPS for the current fiscal year.

Insider Buying and Selling at IDEAYA Biosciences

In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 23,557 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the sale, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at $30,870,973.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Briseno Andres Ruiz sold 2,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $42.03, for a total transaction of $84,060.00. Following the sale, the insider now directly owns 26,531 shares in the company, valued at $1,115,097.93. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Yujiro S. Hata sold 23,557 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $45.54, for a total value of $1,072,785.78. Following the sale, the chief executive officer now owns 677,887 shares in the company, valued at $30,870,973.98. The disclosure for this sale can be found here. Insiders have sold a total of 27,557 shares of company stock valued at $1,248,886 over the last three months. 5.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of IDYA. Point72 Hong Kong Ltd increased its position in shares of IDEAYA Biosciences by 363.7% during the first quarter. Point72 Hong Kong Ltd now owns 3,376 shares of the company’s stock valued at $38,000 after buying an additional 2,648 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of IDEAYA Biosciences by 96.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,474 shares of the company’s stock valued at $40,000 after buying an additional 723 shares during the period. Quantbot Technologies LP increased its position in shares of IDEAYA Biosciences by 90.5% in the first quarter. Quantbot Technologies LP now owns 4,000 shares of the company’s stock worth $44,000 after purchasing an additional 1,900 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of IDEAYA Biosciences in the fourth quarter worth approximately $49,000. Finally, Metropolitan Life Insurance Co NY increased its position in shares of IDEAYA Biosciences by 39.3% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,743 shares of the company’s stock worth $50,000 after purchasing an additional 774 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors.

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.