IDEAYA Biosciences (NASDAQ:IDYA) Announces Earnings Results

IDEAYA Biosciences (NASDAQ:IDYA) announced its quarterly earnings results on Tuesday. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.12), FiscalAI reports. The business had revenue of $6.56 million during the quarter, compared to analysts’ expectations of $5.04 million. The firm’s revenue was down 39.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.82) earnings per share.

IDEAYA Biosciences Trading Down 2.4%

Shares of NASDAQ:IDYA traded down $0.69 during trading on Tuesday, reaching $28.21. 156,335 shares of the stock were exchanged, compared to its average volume of 1,106,977. IDEAYA Biosciences has a 12 month low of $16.82 and a 12 month high of $39.28. The firm has a market cap of $2.48 billion, a PE ratio of -21.52 and a beta of -0.04. The stock has a 50-day moving average price of $32.20 and a 200-day moving average price of $32.96.

Insider Activity

In other news, Director Jeffrey Stein acquired 50,000 shares of IDEAYA Biosciences stock in a transaction dated Monday, March 2nd. The stock was bought at an average price of $32.96 per share, for a total transaction of $1,648,000.00. Following the completion of the acquisition, the director directly owned 54,281 shares in the company, valued at approximately $1,789,101.76. The trade was a 1,167.95% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. boosted its stake in shares of IDEAYA Biosciences by 16.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after buying an additional 436 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of IDEAYA Biosciences by 5.2% in the fourth quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock valued at $335,000 after buying an additional 476 shares during the period. Parallel Advisors LLC boosted its stake in shares of IDEAYA Biosciences by 23.4% in the fourth quarter. Parallel Advisors LLC now owns 3,847 shares of the company’s stock valued at $133,000 after buying an additional 730 shares during the period. E Fund Management Co. Ltd. boosted its stake in shares of IDEAYA Biosciences by 7.8% in the second quarter. E Fund Management Co. Ltd. now owns 12,225 shares of the company’s stock valued at $257,000 after buying an additional 881 shares during the period. Finally, Mariner LLC boosted its stake in shares of IDEAYA Biosciences by 12.7% in the fourth quarter. Mariner LLC now owns 10,772 shares of the company’s stock valued at $372,000 after buying an additional 1,218 shares during the period. 98.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Truist Financial set a $65.00 price target on IDEAYA Biosciences in a research report on Monday, April 13th. Wall Street Zen upgraded IDEAYA Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Wells Fargo & Company boosted their price objective on IDEAYA Biosciences from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, April 14th. The Goldman Sachs Group boosted their price objective on IDEAYA Biosciences from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Finally, Guggenheim boosted their price objective on IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Fifteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.44.

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.