IDEAYA Biosciences (NASDAQ:IDYA) Reaches New 52-Week Low – Here’s Why

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price hit a new 52-week low on Friday . The company traded as low as $25.12 and last traded at $25.16, with a volume of 197582 shares traded. The stock had previously closed at $25.78.

Analysts Set New Price Targets

Several brokerages recently weighed in on IDYA. Stephens assumed coverage on IDEAYA Biosciences in a report on Monday, November 18th. They set an “overweight” rating and a $51.00 price target for the company. Leerink Partnrs lowered shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Citigroup cut their price target on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Leerink Partners lowered shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $41.00 to $27.00 in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald began coverage on IDEAYA Biosciences in a research note on Tuesday, October 15th. They set an “overweight” rating on the stock. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Stock Performance

The stock’s fifty day moving average is $28.83 and its two-hundred day moving average is $34.49. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -11.06 and a beta of 0.79.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same period in the prior year, the business earned ($0.46) earnings per share. Sell-side analysts predict that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors have recently added to or reduced their stakes in IDYA. Allworth Financial LP lifted its holdings in shares of IDEAYA Biosciences by 800.0% in the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after buying an additional 800 shares during the period. Covestor Ltd raised 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 worth $29,000 after purchasing an additional 922 shares in the last quarter. Quest Partners LLC bought a new stake in IDEAYA Biosciences during the second quarter worth approximately $41,000. US Bancorp DE lifted its holdings in shares of IDEAYA Biosciences by 67.2% during the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after purchasing an additional 689 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of IDEAYA Biosciences by 723.5% in the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after purchasing an additional 1,324 shares in the last quarter. 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.