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

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $18.06 and last traded at $18.17, with a volume of 28397 shares changing hands. The stock had previously closed at $18.46.

Analyst Upgrades and Downgrades

IDYA has been the topic of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Stephens reiterated an “overweight” rating and issued a $50.00 target price on shares of IDEAYA Biosciences in a research report on Friday, February 14th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a report on Wednesday, January 15th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.58.

IDEAYA Biosciences Trading Up 5.5 %

The business’s 50-day moving average is $22.37 and its two-hundred day moving average is $27.59. The stock has a market capitalization of $1.62 billion, a PE ratio of -5.61 and a beta of 0.76.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The business had revenue of $7.00 million during the quarter, compared to the consensus estimate of $7.00 million. On average, analysts predict that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd grew 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 acquiring an additional 922 shares during the last quarter. R Squared Ltd purchased a new stake in shares of IDEAYA Biosciences in the 4th quarter valued at approximately $35,000. US Bancorp DE raised its stake in 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 during the period. GF Fund Management CO. LTD. purchased a new stake in shares of IDEAYA Biosciences in the fourth quarter valued at $47,000. Finally, KBC Group NV boosted its position in shares of IDEAYA Biosciences by 29.1% in the third quarter. KBC Group NV now owns 2,274 shares of the company’s stock worth $72,000 after buying an additional 513 shares during the period. 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.