IDEAYA Biosciences Target of Unusually Large Options Trading (NASDAQ:IDYA)

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was the target of some unusual options trading on Monday. Stock investors bought 24,287 call options on the company. This represents an increase of 2,391% compared to the typical volume of 975 call options.

Wall Street Analyst Weigh In

IDYA has been the topic of a number of research reports. Royal Bank Of Canada restated an “outperform” rating and set a $49.00 target price on shares of IDEAYA Biosciences in a research report on Wednesday, February 18th. UBS Group began coverage on IDEAYA Biosciences in a research report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price objective for the company. Citigroup boosted their price objective on IDEAYA Biosciences from $64.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Truist Financial raised their target price on shares of IDEAYA Biosciences from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Wednesday, February 18th. Fifteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.69.

IDEAYA Biosciences Trading Down 1.3%

Shares of NASDAQ:IDYA traded down $0.42 during trading on Monday, hitting $32.32. 260,797 shares of the company’s stock traded hands, compared to its average volume of 906,221. The company has a 50-day moving average price of $32.68 and a 200-day moving average price of $32.35. IDEAYA Biosciences has a 52 week low of $13.45 and a 52 week high of $39.28. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -24.60 and a beta of 0.02.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.94) EPS for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.09. The firm had revenue of $21.75 million during the quarter, compared to the consensus estimate of $5.95 million. The business’s revenue for the quarter was up 55.7% on a year-over-year basis. During the same quarter last year, the firm earned ($1.49) earnings per share. On average, analysts predict that IDEAYA Biosciences will post -3.07 earnings per share for the current fiscal year.

Insider Activity at IDEAYA Biosciences

In other IDEAYA Biosciences news, Director Jeffrey Stein purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average price of $32.96 per share, with a total value of $1,648,000.00. Following the completion of the transaction, the director directly owned 54,281 shares of the company’s stock, valued at approximately $1,789,101.76. This trade represents a 1,167.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.50% of the company’s stock.

Institutional Trading of IDEAYA Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in IDEAYA Biosciences by 11.8% in the fourth quarter. Janus Henderson Group PLC now owns 7,186,456 shares of the company’s stock valued at $248,344,000 after acquiring an additional 758,117 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of IDEAYA Biosciences by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock valued at $173,518,000 after purchasing an additional 97,116 shares during the period. State Street Corp raised its holdings in shares of IDEAYA Biosciences by 27.6% in the 4th quarter. State Street Corp now owns 4,134,641 shares of the company’s stock valued at $142,935,000 after purchasing an additional 893,707 shares during the period. Baker BROS. Advisors LP lifted its stake in IDEAYA Biosciences by 10.5% in the 4th quarter. Baker BROS. Advisors LP now owns 3,618,826 shares of the company’s stock valued at $125,103,000 after purchasing an additional 343,382 shares during the last quarter. Finally, Fiera Capital Corp grew its holdings in IDEAYA Biosciences by 32.6% during the fourth quarter. Fiera Capital Corp now owns 2,437,262 shares of the company’s stock worth $84,256,000 after purchasing an additional 599,295 shares during the period. Institutional investors own 98.29% of the company’s stock.

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.