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

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

Analyst Ratings Changes

A number of brokerages have commented on IDYA. Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Leerink Partners lowered shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $41.00 to $27.00 in a report on Tuesday, November 5th. Oppenheimer restated an “outperform” rating and issued a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Leerink Partnrs lowered IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Stephens initiated coverage on IDEAYA Biosciences in a research report on Monday, November 18th. They set an “overweight” rating and a $51.00 target price for the company. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, IDEAYA Biosciences currently has an average rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Trading Down 3.3 %

The company has a market capitalization of $2.08 billion, a P/E ratio of -10.31 and a beta of 0.82. The business has a 50 day moving average price of $26.89 and a 200 day moving average price of $32.66.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same quarter in the prior year, the company posted ($0.46) earnings per share. On average, analysts forecast that IDEAYA Biosciences, Inc. will post -2.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV increased its holdings 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 acquiring an additional 513 shares in the last quarter. Amalgamated Bank grew its position in shares of IDEAYA Biosciences by 22.9% in the 3rd quarter. Amalgamated Bank now owns 2,840 shares of the company’s stock valued at $90,000 after purchasing an additional 530 shares during the period. US Bancorp DE increased 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 worth $54,000 after purchasing an additional 689 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in IDEAYA Biosciences by 35.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock worth $94,000 after buying an additional 796 shares during the period. Finally, Allworth Financial LP lifted its stake in 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 in the last quarter. 98.29% of the stock is currently owned by institutional investors.

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.