Short Interest in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Rises By 8.1%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 10,060,000 shares, an increase of 8.1% from the October 31st total of 9,310,000 shares. Based on an average daily trading volume, of 830,000 shares, the days-to-cover ratio is presently 12.1 days. Approximately 13.0% of the company’s stock are short sold.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its stake in IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after acquiring an additional 800 shares during the period. Covestor Ltd lifted its position in IDEAYA Biosciences by 23,050.0% during 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. Quest Partners LLC purchased a new stake in IDEAYA Biosciences in the second quarter valued at $41,000. US Bancorp DE grew its position 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 during the period. Finally, Comerica Bank raised its stake in shares of IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after buying an additional 1,324 shares during the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wedbush restated an “outperform” rating and set a $52.00 target price on shares of IDEAYA Biosciences in a report on Monday, November 4th. JPMorgan Chase & Co. decreased their price objective on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Oppenheimer reiterated an “outperform” rating and issued a $53.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. UBS Group started coverage on shares of IDEAYA Biosciences in a report on Thursday, October 24th. They issued a “buy” rating and a $50.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Two investment 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.67.

IDEAYA Biosciences Trading Down 2.9 %

NASDAQ:IDYA opened at $26.66 on Wednesday. The company has a market capitalization of $2.30 billion, a P/E ratio of -11.44 and a beta of 0.79. IDEAYA Biosciences has a 12 month low of $25.20 and a 12 month high of $47.74. The firm has a fifty day simple moving average of $29.31 and a 200-day simple moving average of $35.03.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same period last year, the firm posted ($0.46) EPS. Equities analysts forecast that IDEAYA Biosciences will post -2.46 EPS for the current year.

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.