IDEAYA Biosciences (NASDAQ:IDYA) Stock Price Down 5.1%

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s share price was down 5.1% on Tuesday . The company traded as low as $34.06 and last traded at $34.08. Approximately 177,469 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 861,690 shares. The stock had previously closed at $35.92.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IDYA shares. Wedbush reissued an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, May 8th. The Goldman Sachs Group reduced their price objective on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Stifel Nicolaus raised their target price on shares of IDEAYA Biosciences from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Citigroup raised their target price on shares of IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, BTIG Research assumed coverage on shares of IDEAYA Biosciences in a research report on Friday, March 8th. They set a “buy” rating and a $55.00 target price on the stock. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, IDEAYA Biosciences currently has an average rating of “Buy” and a consensus target price of $48.27.

IDEAYA Biosciences Stock Performance

The company’s fifty day moving average is $38.86 and its 200-day moving average is $40.68.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.02). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. IDEAYA Biosciences’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.49) EPS. As a group, equities analysts predict that IDEAYA Biosciences, Inc. will post -2.37 EPS for the current year.

Insider Buying and Selling at IDEAYA Biosciences

In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 34,433 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.81, for a total value of $1,439,643.73. Following the completion of the sale, the chief executive officer now directly owns 677,887 shares in the company, valued at $28,342,455.47. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 56,711 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total value of $2,359,744.71. Following the completion of the sale, the chief executive officer now directly owns 677,887 shares in the company, valued at $28,206,878.07. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Yujiro S. Hata sold 34,433 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.81, for a total transaction of $1,439,643.73. Following the completion of the sale, the chief executive officer now owns 677,887 shares of the company’s stock, valued at $28,342,455.47. The disclosure for this sale can be found here. Insiders sold a total of 119,644 shares of company stock worth $4,832,228 over the last three months. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors have recently bought and sold shares of IDYA. Vanguard Group Inc. lifted its stake in shares of IDEAYA Biosciences by 19.6% during the first quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock worth $182,355,000 after buying an additional 679,985 shares during the period. Capital Research Global Investors lifted its stake in shares of IDEAYA Biosciences by 43.6% during the fourth quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock worth $70,337,000 after buying an additional 600,000 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of IDEAYA Biosciences by 17.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,566,278 shares of the company’s stock worth $126,889,000 after buying an additional 535,909 shares during the period. Fisher Asset Management LLC lifted its stake in shares of IDEAYA Biosciences by 1,611.9% during the fourth quarter. Fisher Asset Management LLC now owns 539,676 shares of the company’s stock worth $19,202,000 after buying an additional 508,151 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of IDEAYA Biosciences by 14.8% during the fourth quarter. Federated Hermes Inc. now owns 3,883,775 shares of the company’s stock worth $138,185,000 after buying an additional 500,046 shares during the period. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.