IDEAYA Biosciences (NASDAQ:IDYA) Shares Up 4.8% – Time to Buy?

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) traded up 4.8% during mid-day trading on Monday . The stock traded as high as $17.41 and last traded at $17.90. 53,688 shares traded hands during trading, a decline of 94% from the average session volume of 938,158 shares. The stock had previously closed at $17.08.

Analyst Ratings Changes

Several analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a report on Wednesday, January 15th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Finally, Stephens reissued an “overweight” rating and set a $50.00 target price on shares of IDEAYA Biosciences in a research note on Friday, February 14th. Two equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.58.

IDEAYA Biosciences Trading Up 8.4 %

The company has a market capitalization of $1.62 billion, a PE ratio of -5.61 and a beta of 0.51. The company has a fifty day simple moving average of $18.23 and a 200-day simple moving average of $23.77.

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

Institutional Trading of IDEAYA Biosciences

Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in IDEAYA Biosciences by 0.5% during the fourth quarter. Rhumbline Advisers now owns 113,561 shares of the company’s stock worth $2,919,000 after acquiring an additional 585 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of IDEAYA Biosciences by 44.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company’s stock worth $72,000 after purchasing an additional 853 shares during the last quarter. Mariner LLC raised its holdings in IDEAYA Biosciences by 9.8% in the 4th quarter. Mariner LLC now owns 9,775 shares of the company’s stock valued at $251,000 after buying an additional 869 shares during the period. Assetmark Inc. lifted its position in IDEAYA Biosciences by 2.5% in the fourth quarter. Assetmark Inc. now owns 45,269 shares of the company’s stock valued at $1,163,000 after buying an additional 1,084 shares during the last quarter. Finally, R Squared Ltd purchased a new position in IDEAYA Biosciences during the fourth quarter worth about $35,000. 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.