IDEAYA Biosciences (NASDAQ:IDYA) Reaches New 52-Week Low – Here’s What Happened

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $28.00 and last traded at $28.49, with a volume of 34140 shares trading hands. The stock had previously closed at $28.15.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Cantor Fitzgerald initiated coverage on IDEAYA Biosciences in a research report on Tuesday, October 15th. They set an “overweight” rating on the stock. Citigroup cut their target price on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Mizuho assumed coverage on IDEAYA Biosciences in a research report on Monday, July 8th. They set an “outperform” rating and a $50.00 price target on the stock. BTIG Research increased their price target on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, Lifesci Capital raised shares of IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $55.45.

IDEAYA Biosciences Trading Up 1.3 %

The stock’s fifty day simple moving average is $33.37 and its 200 day simple moving average is $37.08.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). During the same quarter in the prior year, the company posted ($0.50) earnings per share. As a group, equities research analysts predict that IDEAYA Biosciences, Inc. will post -2.47 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Allworth Financial LP raised its stake in IDEAYA Biosciences by 800.0% during the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after purchasing an additional 800 shares in the last quarter. Quest Partners LLC bought a new position in shares of IDEAYA Biosciences in the 2nd quarter valued at about $41,000. Covestor Ltd grew its position in IDEAYA Biosciences by 9,225.0% in the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock worth $49,000 after acquiring an additional 1,107 shares in the last quarter. US Bancorp DE grew its position in IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after acquiring an additional 689 shares in the last quarter. Finally, Comerica Bank increased its stake in IDEAYA Biosciences by 723.5% during the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after acquiring an additional 1,324 shares during 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.