Short Interest in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Grows By 10.1%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 10,000,000 shares, an increase of 10.1% from the December 15th total of 9,080,000 shares. Based on an average daily volume of 889,000 shares, the days-to-cover ratio is presently 11.2 days. Approximately 12.9% of the shares of the company are short sold.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP boosted 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 acquiring an additional 800 shares in the last quarter. Covestor Ltd lifted its position in IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after purchasing an additional 922 shares during the period. US Bancorp DE boosted its holdings in IDEAYA Biosciences by 67.2% in 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. KBC Group NV increased its position in IDEAYA Biosciences by 29.1% during the 3rd quarter. KBC Group NV now owns 2,274 shares of the company’s stock worth $72,000 after purchasing an additional 513 shares during the period. Finally, Values First Advisors Inc. acquired a new position in IDEAYA Biosciences during the 3rd quarter worth approximately $74,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

Wall Street Analyst Weigh In

IDYA has been the topic of a number of recent research reports. UBS Group assumed coverage on IDEAYA Biosciences in a research report on Thursday, October 24th. They issued a “buy” rating and a $50.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Stephens initiated coverage on shares of IDEAYA Biosciences in a research report on Monday, November 18th. They set an “overweight” rating and a $51.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Finally, Oppenheimer reissued an “outperform” rating and issued a $53.00 price objective on shares of IDEAYA Biosciences in a 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Trading Down 2.4 %

IDEAYA Biosciences stock opened at $22.18 on Monday. The company has a fifty day simple moving average of $26.14 and a 200-day simple moving average of $32.24. The stock has a market cap of $1.92 billion, a P/E ratio of -9.52 and a beta of 0.82. IDEAYA Biosciences has a 12-month low of $22.10 and a 12-month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter last year, the firm posted ($0.46) EPS. As a group, sell-side analysts forecast that IDEAYA Biosciences will post -2.45 earnings per share for the current fiscal year.

About IDEAYA Biosciences

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.