IDEAYA Biosciences (NASDAQ:IDYA) Shares Gap Down – What’s Next?

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) gapped down prior to trading on Tuesday . The stock had previously closed at $31.48, but opened at $30.34. IDEAYA Biosciences shares last traded at $30.4220, with a volume of 1,085,447 shares trading hands.

Analyst Upgrades and Downgrades

IDYA has been the topic of a number of research reports. Royal Bank Of Canada raised their price objective on IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Wells Fargo & Company raised their price objective on IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. Citigroup restated a “market outperform” rating on shares of IDEAYA Biosciences in a report on Tuesday, June 2nd. Guggenheim raised their price objective on IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Finally, Truist Financial set a $65.00 price objective on IDEAYA Biosciences in a report on Monday, April 13th. Fifteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.69.

IDEAYA Biosciences Stock Performance

The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -17.25 and a beta of -0.05. The business has a 50 day simple moving average of $30.05 and a 200-day simple moving average of $32.55.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The business had revenue of $6.56 million during the quarter, compared to analyst estimates of $5.04 million. During the same period in the previous year, the business earned ($0.82) earnings per share. The firm’s revenue was down 39.4% on a year-over-year basis. Equities analysts predict that IDEAYA Biosciences, Inc. will post -4.27 earnings per share for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in shares of IDEAYA Biosciences by 171.1% in the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after acquiring an additional 580 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of IDEAYA Biosciences in the 3rd quarter worth $38,000. ANTIPODES PARTNERS Ltd increased its stake in shares of IDEAYA Biosciences by 49.4% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after acquiring an additional 380 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of IDEAYA Biosciences in the 3rd quarter worth $58,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of IDEAYA Biosciences during the 4th quarter worth about $61,000. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.