IDEAYA Biosciences (NASDAQ:IDYA) Shares Down 3.5% – Time to Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares traded down 3.5% during mid-day trading on Tuesday . The stock traded as low as $30.71 and last traded at $31.6550. 755,330 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 1,069,156 shares. The stock had previously closed at $32.82.

Analyst Ratings Changes

IDYA has been the topic of several research analyst reports. The Goldman Sachs Group increased their target price on IDEAYA Biosciences from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of IDEAYA Biosciences from a “buy” rating to a “sell” rating in a research report on Saturday, February 21st. Guggenheim raised their price objective on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Royal Bank Of Canada boosted their target price on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday. Fifteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.44.

IDEAYA Biosciences Trading Up 0.3%

The company has a 50 day moving average price of $32.35 and a 200 day moving average price of $32.62. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of -24.74 and a beta of 0.02.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.09. The firm had revenue of $10.88 million for the quarter, compared to analyst estimates of $5.95 million. The company’s revenue was up 55.7% compared to the same quarter last year. During the same period last year, the company earned ($1.49) EPS. Equities analysts predict that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, Director Jeffrey Stein bought 50,000 shares of IDEAYA Biosciences stock in a transaction dated Monday, March 2nd. The shares were bought at an average price of $32.96 per share, with a total value of $1,648,000.00. Following the purchase, the director owned 54,281 shares of the company’s stock, valued at $1,789,101.76. This trade represents a 1,167.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On IDEAYA Biosciences

Several large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in IDEAYA Biosciences by 171.1% during the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after acquiring an additional 580 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of IDEAYA Biosciences in the 3rd quarter worth $38,000. ANTIPODES PARTNERS Ltd boosted its position in shares of IDEAYA Biosciences by 49.4% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after purchasing an additional 380 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of IDEAYA Biosciences during the third quarter worth $58,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of IDEAYA Biosciences during the fourth quarter worth $61,000. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.