IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives $50.25 Consensus PT from Analysts

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $50.25.

A number of equities analysts have commented on IDYA shares. Mizuho reduced their target price on shares of IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada decreased their price objective on IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, July 7th. Wall Street Zen upgraded IDEAYA Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Citigroup restated a “market outperform” rating on shares of IDEAYA Biosciences in a report on Tuesday, June 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd.

IDEAYA Biosciences Price Performance

IDYA stock opened at $35.40 on Tuesday. IDEAYA Biosciences has a 1-year low of $22.09 and a 1-year high of $40.58. The business has a 50-day moving average price of $32.98 and a 200 day moving average price of $32.70. The company has a market capitalization of $3.11 billion, a P/E ratio of -22.12 and a beta of -0.09.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The firm had revenue of $6.56 million for the quarter, compared to analysts’ expectations of $5.04 million. The business’s revenue for the quarter was down 39.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.82) earnings per share. On average, analysts anticipate that IDEAYA Biosciences will post -4.1 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Briseno Andres Ruiz sold 9,550 shares of IDEAYA Biosciences stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total transaction of $382,095.50. Following the completion of the sale, the chief accounting officer owned 26,466 shares of the company’s stock, valued at $1,058,904.66. The trade was a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IDYA. ANTIPODES PARTNERS Ltd raised its stake in shares of IDEAYA Biosciences by 49.4% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after buying an additional 380 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of IDEAYA Biosciences by 16.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after purchasing an additional 436 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in IDEAYA Biosciences by 5.2% during the fourth quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock worth $335,000 after buying an additional 476 shares in the last quarter. Farther Finance Advisors LLC grew its position in IDEAYA Biosciences by 171.1% during the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock valued at $32,000 after buying an additional 580 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of IDEAYA Biosciences by 26.7% in the second quarter. Versant Capital Management Inc now owns 2,825 shares of the company’s stock worth $105,000 after acquiring an additional 596 shares during the period. Hedge funds and other institutional investors own 98.29% of the company’s stock.

About IDEAYA Biosciences

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.