IDEAYA Biosciences (NASDAQ:IDYA) Hits New 52-Week Low – Time to Sell?

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $23.98 and last traded at $24.43, with a volume of 25948 shares changing hands. The stock had previously closed at $24.85.

Wall Street Analyst Weigh In

IDYA has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Leerink Partnrs downgraded IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Stephens began coverage on IDEAYA Biosciences in a research report on Monday, November 18th. They set an “overweight” rating and a $51.00 target price on the stock. UBS Group started coverage on shares of IDEAYA Biosciences in a report on Thursday, October 24th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued 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 an average price target of $53.67.

IDEAYA Biosciences Trading Down 2.1 %

The company’s fifty day moving average is $26.98 and its 200-day moving average is $32.77. The firm has a market capitalization of $2.10 billion, a P/E ratio of -10.44 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results 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 quarter in the prior year, the business posted ($0.46) EPS. On average, equities research analysts anticipate that IDEAYA Biosciences, Inc. will post -2.45 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of IDEAYA Biosciences by 9.7% in the 2nd quarter. Rhumbline Advisers now owns 105,797 shares of the company’s stock worth $3,715,000 after buying an additional 9,387 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in IDEAYA Biosciences by 10.3% in the second quarter. Victory Capital Management Inc. now owns 316,105 shares of the company’s stock valued at $11,098,000 after acquiring an additional 29,600 shares during the last quarter. Arizona State Retirement System boosted its position in shares of IDEAYA Biosciences by 14.3% during the second quarter. Arizona State Retirement System now owns 17,742 shares of the company’s stock worth $623,000 after purchasing an additional 2,225 shares in the last quarter. Quest Partners LLC acquired a new position in IDEAYA Biosciences in the second quarter valued at about $41,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of IDEAYA Biosciences by 637.9% in the second quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock worth $68,000 after acquiring an additional 1,684 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors.

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.