IDEAYA Biosciences (NASDAQ:IDYA) Shares Down 4.8% – Time to Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) fell 4.8% on Thursday . The stock traded as low as $21.00 and last traded at $20.89. 65,359 shares traded hands during trading, a decline of 92% from the average session volume of 821,337 shares. The stock had previously closed at $21.95.

Analysts Set New Price Targets

Several brokerages recently weighed in on IDYA. UBS Group assumed coverage on IDEAYA Biosciences in a research note on Thursday, October 24th. They set a “buy” rating and a $50.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Leerink Partnrs cut shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Oppenheimer restated an “outperform” rating and issued a $53.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.58.

IDEAYA Biosciences Price Performance

The company’s 50 day moving average price is $24.36 and its 200 day moving average price is $29.97. The firm has a market capitalization of $1.82 billion, a P/E ratio of -9.01 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, February 18th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.82). On average, research analysts anticipate that IDEAYA Biosciences, Inc. will post -2.45 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds have recently bought and sold shares of the company. Allworth Financial LP raised its stake in IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after buying an additional 800 shares during the period. Covestor Ltd increased its holdings in shares of IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after acquiring an additional 922 shares in the last quarter. R Squared Ltd acquired a new stake in shares of IDEAYA Biosciences during the fourth quarter worth about $35,000. US Bancorp DE lifted its holdings 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 valued at $54,000 after purchasing an additional 689 shares in the last quarter. Finally, KBC Group NV grew its position in shares of IDEAYA Biosciences by 29.1% in the 3rd quarter. KBC Group NV now owns 2,274 shares of the company’s stock valued at $72,000 after purchasing an additional 513 shares during the period. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.