IDEAYA Biosciences (NASDAQ:IDYA) Sets New 12-Month Low – Here’s What Happened

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) reached a new 52-week low during trading on Monday . The stock traded as low as $24.20 and last traded at $24.78, with a volume of 198250 shares changing hands. The stock had previously closed at $25.16.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Stifel Nicolaus increased their price target on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Oppenheimer restated an “outperform” rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Stephens assumed coverage on IDEAYA Biosciences in a research report on Monday, November 18th. They issued an “overweight” rating and a $51.00 target price on the stock. Finally, UBS Group began coverage on shares of IDEAYA Biosciences in a report on Thursday, October 24th. They set a “buy” rating and a $50.00 price target for the company. 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Price Performance

The firm’s fifty day simple moving average is $27.75 and its 200 day simple moving average is $33.47. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of -10.59 and a beta of 0.79.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data 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 quarter last year, the business posted ($0.46) earnings per share. Equities research analysts forecast that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV boosted 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 acquiring an additional 513 shares during the period. Amalgamated Bank boosted its holdings in shares of IDEAYA Biosciences by 22.9% during the third quarter. Amalgamated Bank now owns 2,840 shares of the company’s stock worth $90,000 after purchasing an additional 530 shares during the period. US Bancorp DE grew its position in IDEAYA Biosciences by 67.2% during the third 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. Mirae Asset Global Investments Co. Ltd. increased its stake in IDEAYA Biosciences by 35.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock valued at $94,000 after buying an additional 796 shares during the period. Finally, Allworth Financial LP lifted its position in IDEAYA Biosciences by 800.0% in the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

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.