IDEAYA Biosciences (NASDAQ:IDYA) Posts Quarterly Earnings Results, Misses Expectations By $0.14 EPS

IDEAYA Biosciences (NASDAQ:IDYA) issued its quarterly earnings results on Tuesday. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.14), Briefing.com reports. IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. During the same period in the prior year, the firm earned ($0.50) earnings per share.

IDEAYA Biosciences Price Performance

NASDAQ IDYA traded down $0.14 on Wednesday, reaching $35.86. The company had a trading volume of 701,680 shares, compared to its average volume of 914,730. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -17.84 and a beta of 0.87. IDEAYA Biosciences has a fifty-two week low of $21.49 and a fifty-two week high of $47.74. The business has a 50 day moving average of $38.52 and a two-hundred day moving average of $41.29.

Insider Activity at IDEAYA Biosciences

In related news, CEO Yujiro S. Hata sold 56,711 shares of the stock in a transaction on Tuesday, May 14th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 56,711 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the sale, the chief executive officer now owns 677,887 shares of the company’s stock, valued at $28,206,878.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction of $1,032,840.00. The disclosure for this sale can be found here. Insiders sold 119,644 shares of company stock worth $4,832,228 over the last three months. Company insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IDYA shares. Lifesci Capital upgraded IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. Stifel Nicolaus restated a “buy” rating and set a $63.00 price objective on shares of IDEAYA Biosciences in a research report on Monday, July 8th. Wedbush restated an “outperform” rating and set a $54.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday. Mizuho started coverage on shares of IDEAYA Biosciences in a research report on Monday, July 8th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $52.33.

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.