IDEAYA Biosciences (NASDAQ:IDYA) Sets New 12-Month Low – Time to Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $16.93 and last traded at $17.03, with a volume of 82861 shares traded. The stock had previously closed at $17.43.

Wall Street Analysts Forecast Growth

Several research firms have commented on IDYA. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price target on shares of IDEAYA Biosciences in a research note on Wednesday, January 15th. Wedbush reissued an “outperform” rating and issued a $52.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Finally, Stephens reissued an “overweight” rating and issued a $50.00 target price on shares of IDEAYA Biosciences in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.58.

IDEAYA Biosciences Stock Performance

The stock has a market cap of $1.49 billion, a P/E ratio of -5.17 and a beta of 0.76. The firm has a 50-day moving average price of $20.80 and a 200-day moving average price of $25.84.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The business had revenue of $7.00 million during the quarter, compared to analyst estimates of $7.00 million. On average, research analysts predict that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Several large investors have recently made changes to their positions in the business. FMR LLC increased its position in IDEAYA Biosciences by 2.6% during the 4th quarter. FMR LLC now owns 12,963,151 shares of the company’s stock valued at $333,153,000 after buying an additional 327,498 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of IDEAYA Biosciences by 13.5% during the fourth quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company’s stock valued at $150,606,000 after acquiring an additional 695,263 shares in the last quarter. Vanguard Group Inc. boosted its stake in IDEAYA Biosciences by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 5,078,084 shares of the company’s stock worth $130,507,000 after purchasing an additional 282,936 shares in the last quarter. State Street Corp boosted its stake in IDEAYA Biosciences by 15.4% in the 3rd quarter. State Street Corp now owns 3,317,936 shares of the company’s stock worth $105,112,000 after purchasing an additional 443,640 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C increased its stake in IDEAYA Biosciences by 5.5% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,736,000 shares of the company’s stock valued at $70,315,000 after purchasing an additional 142,000 shares in the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

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.