IDEAYA Biosciences (NASDAQ:IDYA) Sees Large Volume Increase

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) saw strong trading volume on Wednesday . 374,942 shares changed hands during mid-day trading, a decline of 59% from the previous session’s volume of 915,148 shares.The stock last traded at $42.45 and had previously closed at $42.25.

Analyst Ratings Changes

Several research firms have issued reports on IDYA. Oppenheimer upped their target price on shares of IDEAYA Biosciences from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. The Goldman Sachs Group lowered their target price on IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, May 13th. Lifesci Capital upgraded IDEAYA Biosciences to a “strong-buy” rating in a research report on Monday. Royal Bank of Canada raised their price target on IDEAYA Biosciences from $53.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Finally, Mizuho initiated coverage on IDEAYA Biosciences in a research report on Monday, July 8th. They set an “outperform” rating and a $50.00 target price for the company. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $52.92.

IDEAYA Biosciences Stock Performance

The firm has a 50-day simple moving average of $38.41 and a 200 day simple moving average of $41.33.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative return on equity of 20.09% and a negative net margin of 483.05%. During the same period in the previous year, the company earned ($0.49) EPS. IDEAYA Biosciences’s revenue was down 100.0% on a year-over-year basis. Equities analysts expect that IDEAYA Biosciences, Inc. will post -2.22 EPS for the current year.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 34,433 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $41.81, for a total transaction of $1,439,643.73. Following the transaction, the chief executive officer now owns 677,887 shares of the company’s stock, valued at approximately $28,342,455.47. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Yujiro S. Hata sold 34,433 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $41.81, for a total value of $1,439,643.73. Following the sale, the chief executive officer now directly owns 677,887 shares in the company, valued at approximately $28,342,455.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Anthony White sold 28,500 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $36.24, for a total value of $1,032,840.00. The disclosure for this sale can be found here. Insiders sold 119,644 shares of company stock valued at $4,832,228 over the last quarter. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of IDEAYA Biosciences by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock valued at $182,355,000 after acquiring an additional 679,985 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of IDEAYA Biosciences by 13.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock valued at $177,825,000 after buying an additional 486,222 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of IDEAYA Biosciences by 14.8% in the fourth quarter. Federated Hermes Inc. now owns 3,883,775 shares of the company’s stock valued at $138,185,000 after buying an additional 500,046 shares in the last quarter. Janus Henderson Group PLC boosted its position in IDEAYA Biosciences by 7.2% during the first quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock worth $167,104,000 after purchasing an additional 256,559 shares during the period. Finally, Capital Research Global Investors boosted its position in 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 purchasing an additional 600,000 shares during the period. Institutional investors own 98.29% of the company’s stock.

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.