IDEAYA Biosciences (NASDAQ:IDYA) Reaches New 12-Month Low – Should You Sell?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $24.48 and last traded at $24.93, with a volume of 96045 shares. The stock had previously closed at $25.59.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IDYA shares. Oppenheimer reissued an “outperform” rating and set a $53.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Stephens started coverage on IDEAYA Biosciences in a research note on Monday, November 18th. They set an “overweight” rating and a $51.00 price objective for the company. Leerink Partnrs downgraded shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Wedbush reissued an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday. Finally, Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $41.00 to $27.00 in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $53.67.

IDEAYA Biosciences Price Performance

The business has a 50-day moving average of $28.49 and a 200-day moving average of $34.17. The company has a market capitalization of $2.14 billion, a P/E ratio of -10.63 and a beta of 0.79.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.03. During the same period in the prior year, the company earned ($0.46) EPS. Sell-side analysts predict that IDEAYA Biosciences, Inc. will post -2.45 EPS for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in IDEAYA Biosciences by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,945,455 shares of the company’s stock worth $61,645,000 after purchasing an additional 172,838 shares during the period. Barclays PLC boosted its stake in shares of IDEAYA Biosciences by 188.8% in the third quarter. Barclays PLC now owns 181,170 shares of the company’s stock worth $5,739,000 after buying an additional 118,438 shares during the last quarter. XTX Topco Ltd acquired a new stake in IDEAYA Biosciences during the third quarter worth about $245,000. Two Sigma Advisers LP raised its position in IDEAYA Biosciences by 1.7% during the third quarter. Two Sigma Advisers LP now owns 468,100 shares of the company’s stock valued at $14,829,000 after acquiring an additional 7,700 shares in the last quarter. Finally, State Street Corp boosted its position in IDEAYA Biosciences by 15.4% in the 3rd quarter. State Street Corp now owns 3,317,936 shares of the company’s stock worth $105,112,000 after purchasing an additional 443,640 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

About IDEAYA Biosciences

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.