IDEAYA Biosciences (NASDAQ:IDYA) Hits New 12-Month Low – Here’s Why

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $16.93 and last traded at $17.03, with a volume of 82861 shares changing hands. The stock had previously closed at $17.43.

Analysts Set New Price Targets

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

IDEAYA Biosciences Stock Performance

The stock has a market capitalization of $1.48 billion, a PE ratio of -5.15 and a beta of 0.76. The business’s 50-day moving average price is $20.90 and its 200 day moving average price is $26.05.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.82). The business had revenue of $7.00 million during the quarter, compared to analyst estimates of $7.00 million. As a group, equities research analysts predict that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of IDEAYA Biosciences by 2.6% during the 4th quarter. FMR LLC now owns 12,963,151 shares of the company’s stock valued at $333,153,000 after purchasing an additional 327,498 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of IDEAYA Biosciences by 13.5% in the fourth quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company’s stock worth $150,606,000 after buying an additional 695,263 shares during the period. Vanguard Group Inc. lifted its stake in shares of IDEAYA Biosciences by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 5,078,084 shares of the company’s stock valued at $130,507,000 after acquiring an additional 282,936 shares during the last quarter. State Street Corp boosted its holdings in IDEAYA Biosciences by 15.4% during the 3rd quarter. State Street Corp now owns 3,317,936 shares of the company’s stock valued at $105,112,000 after acquiring an additional 443,640 shares during the period. Finally, Deerfield Management Company L.P. Series C grew its position in IDEAYA Biosciences by 5.5% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,736,000 shares of the company’s stock worth $70,315,000 after acquiring an additional 142,000 shares during 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.