IDEAYA Biosciences (NASDAQ:IDYA) Sets New 1-Year Low – Time to Sell?

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $21.76 and last traded at $21.94, with a volume of 34428 shares traded. The stock had previously closed at $22.42.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IDYA. Leerink Partners lowered IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $41.00 to $27.00 in a research note on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Leerink Partnrs cut shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Oppenheimer restated an “outperform” rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.67.

IDEAYA Biosciences Stock Up 2.7 %

The stock has a market cap of $1.90 billion, a P/E ratio of -9.42 and a beta of 0.82. The company’s 50 day moving average price is $24.60 and its two-hundred day moving average price is $30.18.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, February 18th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.86). As a group, equities research analysts forecast that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its position in IDEAYA Biosciences by 800.0% during the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after purchasing an additional 800 shares in the last quarter. Covestor Ltd boosted its holdings in shares of IDEAYA Biosciences by 23,050.0% in the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after buying an additional 922 shares in the last quarter. R Squared Ltd purchased a new position in shares of IDEAYA Biosciences in the 4th quarter worth approximately $35,000. US Bancorp DE raised its stake in shares of IDEAYA Biosciences by 67.2% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after acquiring an additional 689 shares in the last quarter. Finally, KBC Group NV lifted its position in IDEAYA Biosciences by 29.1% during the third quarter. KBC Group NV now owns 2,274 shares of the company’s stock valued at $72,000 after acquiring an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

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.