IDEAYA Biosciences (NASDAQ:IDYA) Reaches New 52-Week High – What’s Next?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $35.12 and last traded at $34.8860, with a volume of 47415 shares. The stock had previously closed at $33.99.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IDYA shares. JPMorgan Chase & Co. lifted their price objective on shares of IDEAYA Biosciences from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Citigroup reaffirmed a “buy” rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 9th. Mizuho upped their price objective on IDEAYA Biosciences from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a report on Tuesday, September 9th. Finally, Stephens restated an “overweight” rating and issued a $45.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, September 9th. Fifteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.40.

IDEAYA Biosciences Stock Up 2.4%

The firm’s fifty day moving average price is $29.43 and its 200-day moving average price is $24.95. The stock has a market cap of $3.11 billion, a P/E ratio of -19.08 and a beta of 0.14.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $1.45. The firm had revenue of $207.83 million for the quarter, compared to the consensus estimate of $59.98 million. Sell-side analysts predict that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Institutional Trading of IDEAYA Biosciences

Several large investors have recently modified their holdings of the business. CIBC Bancorp USA Inc. bought a new position in IDEAYA Biosciences during the 3rd quarter valued at approximately $233,000. Dark Forest Capital Management LP purchased a new position in shares of IDEAYA Biosciences during the third quarter valued at approximately $1,462,000. Mariner LLC purchased a new stake in IDEAYA Biosciences in the third quarter worth $260,000. Millennium Management LLC lifted its stake in IDEAYA Biosciences by 106.3% in the third quarter. Millennium Management LLC now owns 137,585 shares of the company’s stock worth $3,744,000 after acquiring an additional 70,899 shares during the period. Finally, Iron Triangle Partners LP bought a new stake in IDEAYA Biosciences in the third quarter valued at $7,347,000. 98.29% of the stock is 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.