IDEAYA Biosciences (NASDAQ:IDYA) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of IDEAYA Biosciences (NASDAQ:IDYA) from a hold rating to a sell rating in a report published on Saturday.

Several other analysts have also issued reports on the company. Barclays started coverage on IDEAYA Biosciences in a report on Thursday, September 4th. They set an “overweight” rating and a $40.00 price target for the company. JMP Securities started coverage on IDEAYA Biosciences in a research report on Thursday, September 4th. They issued a “market outperform” rating and a $41.00 price objective on the stock. Citizens Jmp started coverage on IDEAYA Biosciences in a research report on Thursday, September 4th. They issued a “mkt outperform” rating and a $41.00 price objective on the stock. Stephens restated an “overweight” rating and issued a $45.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, September 9th. Finally, Oppenheimer set a $36.00 price objective on IDEAYA Biosciences and gave the company an “outperform” rating in a research report on Monday, September 8th. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $43.36.

IDEAYA Biosciences Stock Performance

NASDAQ:IDYA opened at $26.77 on Friday. The stock has a 50-day simple moving average of $25.28 and a two-hundred day simple moving average of $21.90. IDEAYA Biosciences has a 52-week low of $13.45 and a 52-week high of $32.67. The firm has a market capitalization of $2.35 billion, a PE ratio of -7.06 and a beta of 0.14.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.03). The business had revenue of $6.00 million during the quarter, compared to analyst estimates of $3.48 million. During the same period in the previous year, the company earned ($0.68) earnings per share. The business’s revenue for the quarter was up NaN% compared to the same quarter last year. Equities analysts forecast that IDEAYA Biosciences will post -3.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds have recently made changes to their positions in the company. CWM LLC lifted its position in shares of IDEAYA Biosciences by 325.7% in the first quarter. CWM LLC now owns 2,371 shares of the company’s stock worth $39,000 after buying an additional 1,814 shares in the last quarter. PNC Financial Services Group Inc. raised its position in IDEAYA Biosciences by 180.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company’s stock valued at $39,000 after purchasing an additional 1,546 shares during the period. Signaturefd LLC raised its position in IDEAYA Biosciences by 374.8% during the first quarter. Signaturefd LLC now owns 2,877 shares of the company’s stock valued at $47,000 after purchasing an additional 2,271 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in IDEAYA Biosciences during the second quarter valued at approximately $61,000. Finally, Daiwa Securities Group Inc. raised its position in IDEAYA Biosciences by 16.1% during the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after purchasing an additional 436 shares during the period. 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.