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

IDEAYA Biosciences (NASDAQ:IDYA) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

IDYA has been the topic of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Friday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Truist Financial decreased their target price on shares of IDEAYA Biosciences from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Mizuho lowered their price target on shares of IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, Citigroup reissued a “market outperform” rating on shares of IDEAYA Biosciences in a report on Tuesday, June 2nd. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.12.

IDEAYA Biosciences Price Performance

Shares of IDYA opened at $36.30 on Friday. IDEAYA Biosciences has a 52 week low of $23.23 and a 52 week high of $40.58. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -18.71 and a beta of -0.10. The stock’s 50-day moving average price is $35.19 and its 200-day moving average price is $32.70.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, August 4th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.16). The company had revenue of $8.86 million for the quarter, compared to analyst estimates of $8.02 million. IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%.The firm’s revenue was up 8800.0% on a year-over-year basis. During the same period last year, the business earned ($0.88) earnings per share. As a group, equities analysts anticipate that IDEAYA Biosciences will post -4.38 EPS for the current fiscal year.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, CAO Briseno Andres Ruiz sold 9,550 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total transaction of $382,095.50. Following the transaction, the chief accounting officer owned 26,466 shares in the company, valued at approximately $1,058,904.66. This represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.70% of the company’s stock.

Institutional Trading of IDEAYA Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of IDEAYA Biosciences during the 2nd quarter valued at approximately $331,452,000. Jupiter Topco LLC purchased a new stake in IDEAYA Biosciences in the 2nd quarter worth $319,728,000. Janus Henderson Group PLC increased its holdings in IDEAYA Biosciences by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 7,265,253 shares of the company’s stock worth $242,023,000 after acquiring an additional 78,797 shares in the last quarter. Vanguard Group Inc. raised its position in IDEAYA Biosciences by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock worth $173,518,000 after acquiring an additional 97,116 shares during the period. Finally, State Street Corp raised its position in IDEAYA Biosciences by 27.6% during the fourth quarter. State Street Corp now owns 4,134,641 shares of the company’s stock worth $142,935,000 after acquiring an additional 893,707 shares during the period. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

About IDEAYA Biosciences

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.