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

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares reached a new 52-week low on Friday . The company traded as low as $22.14 and last traded at $22.15, with a volume of 301770 shares changing hands. The stock had previously closed at $22.72.

Analyst Ratings Changes

Several brokerages have issued reports on IDYA. Wedbush reaffirmed an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Leerink Partnrs cut shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Oppenheimer reiterated an “outperform” rating and issued a $53.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. UBS Group assumed coverage on shares of IDEAYA Biosciences in a research report on Thursday, October 24th. They set a “buy” rating and a $50.00 price objective for the company. Finally, Leerink Partners downgraded IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Trading Down 2.4 %

The firm has a fifty day moving average price of $26.14 and a 200-day moving average price of $32.25.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter last year, the company earned ($0.46) EPS. Research analysts anticipate that IDEAYA Biosciences, Inc. will post -2.45 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of large investors have recently modified their holdings of IDYA. FMR LLC raised its holdings in shares of IDEAYA Biosciences by 12.1% during the 3rd quarter. FMR LLC now owns 12,635,653 shares of the company’s stock worth $400,297,000 after buying an additional 1,365,570 shares in the last quarter. Janus Henderson Group PLC raised its stake in IDEAYA Biosciences by 26.7% during the third quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company’s stock worth $163,518,000 after acquiring an additional 1,086,356 shares in the last quarter. State Street Corp raised its stake in IDEAYA Biosciences by 15.4% during the third quarter. State Street Corp now owns 3,317,936 shares of the company’s stock worth $105,112,000 after acquiring an additional 443,640 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of IDEAYA Biosciences by 9.8% in the third quarter. Geode Capital Management LLC now owns 1,945,455 shares of the company’s stock worth $61,645,000 after acquiring an additional 172,838 shares during the last quarter. Finally, Logos Global Management LP boosted its stake in shares of IDEAYA Biosciences by 13.3% in the 2nd quarter. Logos Global Management LP now owns 1,700,000 shares of the company’s stock valued at $59,687,000 after purchasing an additional 200,000 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

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.