IDEAYA Biosciences (NASDAQ:IDYA) Issues Quarterly Earnings Results

IDEAYA Biosciences (NASDAQ:IDYA) posted its earnings results on Tuesday. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.18) by ($0.04), Zacks reports. IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%. The business had revenue of $10.24 million for the quarter, compared to the consensus estimate of $7.58 million. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The business’s revenue was up 14.6% on a year-over-year basis.

IDEAYA Biosciences Stock Performance

NASDAQ IDYA traded up $0.13 on Tuesday, reaching $31.77. The company had a trading volume of 212,560 shares, compared to its average volume of 1,018,937. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -16.33 and a beta of -0.04. IDEAYA Biosciences has a 1-year low of $26.81 and a 1-year high of $42.68. The company’s fifty day moving average is $37.08 and its 200-day moving average is $34.08.

Analyst Upgrades and Downgrades

IDYA has been the subject of several recent analyst reports. Wall Street Zen downgraded IDEAYA Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Wedbush lifted their price objective on IDEAYA Biosciences from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Jefferies Financial Group reiterated a “buy” rating on shares of IDEAYA Biosciences in a research report on Tuesday, September 1st. Guggenheim increased their target price on IDEAYA Biosciences from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Finally, Citigroup restated a “market outperform” rating on shares of IDEAYA Biosciences in a report on Monday, October 19th. Thirteen 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.55.

Insider Activity

In other IDEAYA Biosciences news, CEO Yujiro Hata sold 26,338 shares of IDEAYA Biosciences stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $37.41, for a total value of $985,304.58. Following the sale, the chief executive officer owned 690,695 shares of the company’s stock, valued at $25,838,899.95. This trade represents a 3.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.70% of the stock is owned by corporate insiders.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc (NASDAQ:IDYA) is a biotechnology company focused on discovering and developing precision medicines for cancer. Its research emphasizes synthetic lethality, biomarker-driven drug discovery and molecularly defined patient populations, with the goal of matching targeted therapies to specific genetic alterations in tumors.

The company’s pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily for genetically defined cancers, including metastatic uveal melanoma.